All Forum Posts by: Amber Koontz

@Mike DeLeo Good luck to you as well!

@Mike DeLeo

 Yes, that was great advice! I think for me it will be fine to stay a year and move to the next duplex only because I do not have kids. I want to be very successful before I start my family. What I hope to do is really familiarize myself with the ins and outs of being a landlord and contracts and everthing that to comes with effectively working with tenates  while occupying my first purchase. (A family member may occupy the other side). Lawyers, a handyman..... There is so much to learn, but I look forward to growing and diversifying my portfolio.

@Jerry Padilla thanks for the advice. I am a bit concerned about the rehab effort needed. From the pictures on this duplex it seems as if whomever left tore out things that were on the walls. I'm thinking that possibly could be more extensive than I imagine. I have reached out to the realtor to get more detail on the place and what's been going on. I came across this on realtor.com, I get emails on the type of listings I'm interested in. I definitely will not proceed without getting a clear assestment of the damages and the ARV.

Wow, great responses. I will also try these websites.  @Brandon Styles you are very welcome and good luck to you as well!

Hello Brandon

I am fairly new to this, however I've been using city-data.com

I go there and plug in an address to find the detail that you are searching for. There very well may be something even better out there, in the meantime this works great for me. Give it a try. 

@O'brian R. Thank you very much for the advice! I heard about FHA loans and the great low percentage down. That actually could work well for me. I believe I heard of it here in a podcast. I have a big to do list of notes that I've taken. That totally slipped my mind.

@William Dampier thank you as well. Today I was learning more about ARVs and the 70% rule. There is also some great information for looking at properties with an inspection list. 

Guys I've read The Millionaire Real Estate Agent and soon the the investor.  There are so many opportunities or niches, I'm going to really start putting time into educating myself to set a strong foundation for action. Congratulations to you both on your success!

I hope to also gain some insight from Adam Kibler. 

1 out of three names I was able to get to populate with the @ leading. I'll get it soon enough. :)

Thanks guys

Wow that was great information! I am working on my why and what for and exactly what things I'm interested in pursuing. I have more work to do. Thank you for a great response @ O'brian R. and good luck Ronnie!

Hello all, I've come across a duplex that needs a bit if work for around $50,000. 6 bed 3 bath. I'm researching the area to see about the neighborhood and also what places go for in that area. I would stay in this place for the 2 yr timeframe needed to use this for my next purchase. I'm unsure of how to maneuver this. I need to get approved for a loan. Already approved for a regular house loan, but duplexes seem to be very different. There is a possibility for hard money inclusion, but I wouldn't know exactly if I have true source and if you can get that type of assistance when making a long term investment or holding. I also need to find a reputable construction company that could do the work to remodel this duplex. That brought me to also think about having someone come out to actually look at the property and tell me what all needs to be done. I'm thinking $15-$20,000 in the remodel. How much do I negotiate with the construction company as well as the seller? I have a million questions. I've only been saving for a few months now. I think my savings or start up could be decent by June however, this is for sale right now. Can anyone straighten my process out as far as help me focus on the key things and maybe more research material for lenders and construction companies as well as if this even a deal to make? 

CONGRATULATIONS! I also will be networking on here to gain more insight. I'm very excited and I feel that the opportunities are limitless. Personally I want start out with a duplex, but probates have peaked my curiosity. Thanks for another option to incorporate into a soon to be very diverse portfolio. Good luck!