New investor looking to start discussions!

[Adam Temel]

Hello, I am a new investor who is looking to house hack. Also this is my first post and I wanted to see how using the forums go. I never have used one before but I'm eager to meet new people and get some good advice about house hacking! 

Regards,

Adam 

[Heath Ryans]

@Adam Temel brother you gotta @ me or i won't see that you replied. I just happened to click back on this thread.

You mentioned estimating rehab costs. That is definitely a big deal. You can absolutely have someone walk it with you as your going through it. I wouldn't pay for an actual inspection until you have it under contract but you can offer to slide someone a few dollars if they will come out and do a walk through with you. They should be able to give you a fair estimate of the costs but obviously that would all depend on what came up on the inspection report and what all you wanted done. Bear in mind, you will save a considerable amount if you are able to do the work on your own.

If your not comfortable making a call on the ARV, just ask an agent. It's not a big deal for them to generate some comps real quick. Now don't go and ask them what every single house on the MLS is worth but it's not a time consuming process for them.

Finally, you said ON MARKET. Key words. If you want a deal, you have to go off market. You want a good deal with value add potential and great cash flow. Unless you just have money to blow and don't overly care about how great of a deal it is.