All Forum Posts by: Andrew Brewer

Hi everyone, I have a question about how to build a deal funnel for out of state investing. The question is, how do I build a deal funnel out of state? I am looking in the KC area and have spent a lot of time looking on the MLS for deals myself but would like to also build connections to get a funnel for offmarket deals. What is the best way to go about doing this from a remote location?

Hi everyone, I had a questions about the "Rehab" portion of the BRRRR method. When buying an investment property and using the BRRRR method, what should be the order of steps in rehabbing?. I will be the first to admit that as a newbie I don't feel comfortable in estimating rehab costs and will be using a GC for the rehab part. Should I send a GC over to inspect a property before buying? Or would someone consider this a waste of time. I don't want to purchase a property without knowing the rehab costs and I have heard over and over to not take rehab costs from a realtor or wholesaler at face value and have an unbiased third party give me an estimate

Hi Everyone, I am looking for peoples experience in buying when considering the crime in an area and how much crime is too much. Personally, I've lived a majority of my life in California (Palms in LA, Richmond CA when it was bad, Oakland, Berkeley, San Jose) and there is always crime everywhere, theres consistently aggresive homeless people, car break ins, burglaries, muggings, etc, even in areas that are "nicer"

a good example would be : the high rise I currently work in in San Jose. Outside on the street and in the underground parking garage we have a huge crime problem, its a daily occurence to have to the police onsite to arrest someone, to have maintenance reapir/clean up vandalism, and to have homeless camping/urinating/defecating/in the corners. Despite this, the top 21 floors are luxury condos ranging in price from 550000 for a studio to over 2 mil for a penthouse, personally I wouldn't want to pay 2 mil only to see someone peeing on my front door. 

I've looked at crime stats in a number of potential markets but have come to realize that I don't really know what I'm looking for in terms of appropriate levels. What do other people look for in terms of appropriate crime levels?

by "total renovation budget" do you mean what kind of finishes am I looking for? 

The property is a 1500 sq ft SFH 4bd/1ba. I'm looking to rehab and rent (BRRRR method) so I don't need top end finishes. The budget is going to be what it takes to get the house into rentable condition.

Hi all, I'm chasing a potential rehab deal in Durham NC and am looking for contractor recommendations. The deal would probably be a gut to stud rehab and needs foundation work. If anyone knows a reliable and honest contractor in that area I'd appreciate it. Thanks everyone!

Hi Everyone, I'm looking to connect with REI minded people in Richmond, CA. Any fellow Richmond investors here?

I rent right now but plan on buying a primary residence soon. I am trying to purchase from an investment standpoint, but the driving factor for me isn't wealth creation, its quality of life and cutting down on stress. I won't overleverage and buy a place where I will struggle to make payments, but there are certain things I want to do in life that rentals simply don't afford. I'm married, have two step children and four rabbits (plus my girls want a dog). I would like to be able to invite family over to visit and want an outdoor area where i can barbecue and where my girls can play outside. I want to be able to change the oil in my car and use my tools. All of these things are made almost impossible with renting. Many rental i've come across list things like "no pets, visitors must be approved with landlord etc" and don't have backyards or anything of the sort. I've had landlords tell me straight up that they won't rent to couples or couples with children(discriminatory I know, but in a hot rental market with multiple applications on a unit its hard to prove in court). There is also the stress of thinking that your lease may not be renewed, or that a good owner will sell the building to someone else who starts hounding me. What happens if I have to move in five years, but market rents have appreciated to the point where I can't find a similar replacement?  At that point do I just get rid of my pets and my stuff?

As someone who has rented for many years, I have to say the stress associated with renting is just not worth it. I hate having to ask the landlord if I want my mom to come and visit for two weeks, or if I want to build shelves. I don't like the thought of being told out of thin air that my lease won't be renewed and feel like I have to walk on eggshells to stay on the good side of a landlord lest he/she decide to get rid of me.

In sum, Like @Ned Jackson 

@Ned J.undefined says, lots of stuff we do is a "bad investment" but there are other things to consider besides purely financial rewards. There are plenty of people with lots of money who are miserable. The freedom to do what you please in your own residence and the decrease in stress can be worth the financial tradeoffs. 

Thanks @J. Martin, I've been looking at list prices, I understand that properties don't necessarily sell for what they list at but from what i've seen in the Bay Area they typically sell for over, rather than under. This may not be the case for MFH. I haven't looked at auction properties sold for cash. I don't have the cash on hand to buy outright and this would be my first deal so I don't have a track record to present to investors.

I second @Al 

@Al D.

How are the successful california investors analyzing their deals? What are the metrics in this unique market that is allowing investors to buy and cashflow these great properties?

@Jay Hinrichs

where are you finding these under 200k deals in Richmond? Are they all offmarket?