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All Forum Posts by: Andrew David Evans

Andrew David Evans has started 2 posts and replied 41 times.

Post: Realtor in Atlanta and brand new to BP

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

Tyler, welcome to BP! Bigger Pockets is truly the most beneficial free resource on the internet for real estate investors. The link @Ryan Horne posted is the meet up I was going to recommend, on the last Tuesday of every month. Truly a phenomenal place to receive information and network with over 100 other investors in the area. Hope to see you there!

I have heard very great things about vinyl, cost effective and looks great. Regardless I would go wood over carpet, looks clean and easier to maintain.

Cynthia, good luck on your investment! Will you be doing any rehab to your condo once purchased?

Post: HOW TO FLIP HOUSES WITH NO MONEY

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

@Jason Hirko So obviously there is no such thins as "no money" investing, would you recommend going to hard money route vs. trying to partner and find a more private money source to avoid paying extra for money? I completely agree with the idea of adding value in exchange for first hand experience much before attempting to find money for purchasing a property. So after that first step what is the best way to go in with "low money" down?

Post: Should I convert a five bedroom to four?

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

I think although it depends on the market, converting 2 small rooms to create a grand master bedroom/ master bathroom would be largely beneficial in most areas. If the house is going to be for college students it might make more sense to keep the five small rooms to maximize profits, however if you intend to escape the college student rental scene and create a great SFH, I think the conversion would be highly beneficial. Let us know what you decide and keep us updated! Good luck!

Post: Funding for a rehab

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

You could use a private money loan as apposed to a hard money loan to save yourself great money on the hard money interest. Although I know not everyone has friends/ family that can be accessible for a private money loan so I would then suggest you network as much as possible and try to find a partner to go in with you. Although it will require some amount of money, if you network hard enough through BP and local REI meetings there is a great chance you can find someone interested in funding and not interested in doing the work. Best of luck, keep us updates on what you end up doing!

Post: HOW TO FLIP HOUSES WITH NO MONEY

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

As apposed to the common answer of going to a hard money lender, you could also network an try to find someone that can go in on the deal with you. If you do not have the funds to go 50/50, maybe you could work out a private loan situation in which you could do more of the work in return for a greater private loan. A hard money loan is a great way for anyone with limited capital to get involved however hard money is very expensive. Keep us updated on what you decide, good luck!

Post: method of finding deals

Andrew David EvansPosted
  • Atlanta, GA
  • Posts 44
  • Votes 9

To find a deal off of the MLS means that you're looking in the same pool all the wealthy and experienced investors are looking into. It will make it very difficult for you to compete with the offers that are going to be listen in the MLS unless you get extremely lucky. If you're looking for a deal in which you will be one of the only, if not the only offer I would suggest simply driving for dollars. If you cannot personally be the one driving around you can find someone that can help you do that. Finding a vacant home or something of the sort, and reaching out to the owner offering to close quickly will give you a chance at being the only offer making it much easier for you to land REAL deal. Let us know what you decide to do, keep us updated. Good luck!

If you're going to use a "simple" method for analyzing rehab cost like the $12 a sq foot method, I would be extremely careful and particular setting money aside to go over that budget. It will be much easier to underestimate as apposed to over estimate that cost. Maybe use the $12 a sq. foot method as a basic as far as cosmetics goes (putting lipstick on a pig) and then do a separate analysis for bigger things as far as HVAC, electrical, plumbing, appliances ect. I would love to know what you decide to go with and how it works. Good luck!