All Forum Posts by: Amanda Rome

Someone from Lending Stone contacted a new wholesaler I'm working with a out a property he has and then went on to say he's not interested in buying but just lends money. Eliya Okamba was the name on Facebook. I'm going to do more digging but definitely doesn't feel right.

@Tim Johnson Please do! I would definitely go!

Hello BP people!

I'm Amanda from Central Minnesota. I've been studying real estate investing for several months now and just wanted to provide an introduction!

My husband and I are looking to BRRRR distressed properties in the northern suburbs of minneapolis. (Think Blaine area.) I've put a couple offers on houses I've found on the MLS but have come in too low for any one to accept my offer.

I'm hoping to start going to some meetups but live about an hour away from where the meetups I'm finding are and just need to commit my time to get there.

We are also going to try and start direct mailing absentee owners in the next month with the hopes of getting our first deal under our belts.

I'd love to start connecting with people so reach out and say Hi! I love hearing everyone else's startup stories.

Nice to meet you all!

Before I go see a house I run my numbers to see how much I'd need to get the house for. I then have my realtor sent the seller/agent something along the lines of "I have a client interested at $xxx are we wasting our time?" And as long as we don't get a straight "yes, waste of time" answer I go see and generally put in an offer. My last one was nearly 50% of asking price. The whole house needed to be gutted. They ended up counter offering too high and we moved on. 

I had an offer on a house that the sellers were taking their time responding on. We gave them a deadline so that I could continue to evaluate other properties. Maybe you could put a 24hr response time from the seller and then be able to move quickly to the next one. You could have your realtor (or yourself if you don't have one) let the seller know you are interested on the ones you don't make an offer on right away and that could give you a day or two to get an offer in.

I podcast and listen to audio books while I drive or do tasks that don't need my full attention. The hardest thing for me has been scheduling walk throughs. We are looking at distressed properties and I want an idea of what it actually looks like. I suppose I could have my realtor take some footage but I feel I'm already using her for so much. I definitely need to make sure I add value to her once I finally get a property under my wings.

Things are definitely priced higher where I'm at than what my husband and I can afford. The hard money lenders we've found want us to have a certain % of the loan in reserves and that doesn't give us a whole lot to look at after closing costs have gone through. Maybe I do need to look outside of where we are looking currently.