All Forum Posts by: Andrew Gillings

Try out homemetry.com, I've been looking for some older properties and have had decent luck finding numbers on there and it's free! It definitely depends on where you're looking but most older home that have been owned by the same person for years have good info!

@Joe Villeneuve, in your opinion what areas are better in MI and which do you like for MFHs?

Thanks @Jeff Filali! Yeah, I should have been more clear. I am most definitely looking for a fixer property.

@Andrew Johnson and @Joe Villeneuve, Thank you both for the input. I should have been a little more clear I guess. I am not looking for anything turn key or rent ready. I know that even in the bad areas I would be winning the lottery to find 5-10k/door that are turnkey unless I was buying 100+units..I would be looking for a bit of a fixer. That is what my current home was and I got hooked on the equity that I built in the last year!

Hi all,

I currently live in California and real estate prices are much higher than I would like. I know that the deals are out there, however I have seen that there are more/better deals elsewhere. 

I would ideally like to get into MFH, the more the better to me. $5-10k/door which I am finding. I just want to make sure that the area's are somewhat decent. What are some places or sites that you have all found to best help determine the status of the area? I don't want to have to visit every single property just to find out that the area is less desirable and waste my time or money. Some direction from the pros would be great! Places I am looking are in TX, MS, GA, TN, and AL. I am not opposed to other places but these are places that I have wanted to own in and my wife would love to live someday.

As for financing, current home has about $70,000 in equity that I built into it in the last year. I am trying to determine if it is worth it to sell before my 2 years is up and eat the taxes. While I can save a good amount by waiting, I do not want to miss out on any deals by not. What are the pros and cons in selling before my 2 year mark? 

I know that there are other ways to gain financing, however I want to exhaust all of my options before I hit those other ways.

What are your thoughts? All are welcomed! 

Thank you all for the Replies! @J. Martin, @Kim Stofan@Gordon Cuffe, @David Oldenburg, @Account Closed...I hope that I mentioned all that have helped!

Well since I last posted I have been looking for properties and figuring out what might fit best for me. I have been leaning way further to MFH's and I am seeing that out of state is giving much better returns (at least what I have been able to find). In my own home, I was in the process of a refi, but after the appraisal came back at $70,000 more,  I am backing out of it and eating the appraisal fees rather than the refi fees. I am now looking into what cons there are to selling before my 2 years to cash out and put this towards a MFH. I am thinking that taking the tax loss might be worth not losing out on what I have been finding. Again, just looking into it. I will start looking into some local REIAs to start Networking and learning as much as can until I find the right MFH fixer. Thank you again everyone for all of your replies! I really appreciated al of the feedback. 

@Jeremy Brown , as far as budget goes, I really need to start shopping for funding, more than likely an HML for at least my first few flips. I can always refi any that well have a good cash flow for a rental. I do not have a particular area in mind as of yet but I definitely want to get into multi family. I guess what I really would like though is someone to shadow for a bit.

@Tim Kunz , I have been checking out all of the info BP has and it is mind blowing! Have you been to any of the events on meetup? If so, are there any good ones you recommend? Have you been able to do any deals yourself yet, I would like to hear about them if so. Let me know..Thanks!

Hi all,

I have been wanting to break into the real estate game here in Sacramento for awhile now. I really don't know where to start except with research. I have been doing the research on it for awhile but I just have not pulled the trigger on the whole thing. I really want to do flips as well as buy and holds (ideally multi-family units, apartments are the goal). I want to be able to do most of the work myself as I am a very hands on person. I just recently bought a house that I did the work on myself and I am hoping to sell this one as soon as I am able to. I work in sales and have a fairly flexible schedule, however money gets tight sometimes and I do not know where to find the proper funding for this. I would love to talk with someone in my area about it. Maybe there is someone looking to do some mentoring? I am willing to work hard and for free if that is the price to learn from someone already in the business. I have a few contacts that help but they are not in the area and cannot work as closely as I would like. I have been reading books on this stuff but that only goes so far. It is at a point where I need some actual experience. If anyone has a good direction for me to go in or is will to meet or speak with me, that would be great! I have loved reading all these posts in the forums. Thanks in advanced for the help!

- Andrew