All Forum Posts by: Andrew Fredrickson

@Tanner Barnes

I worded my original response poorly. I believe we are talking about the same thing.

You are trying to find a property that can rent for at least 1% of purchase price, correct?

I was suggesting buying, for example, a 2/1 for $150k that might only rent for $1,000/mo, converting it into a 3/2 that could generate $1,500+/mo in rent (more than 1% of purchase price).

This is just an example of a value add option that could turn less than good deals into solid investments. 

All the best!

@Tanner Barnes welcome to BiggerPockets!

Finding a good 1% deal can be difficult sometimes. Maybe look for properties where you can add value that will bring the cashflow up to at least 1% (e.g. adding additional rooms). I often look for 2/1 properties with unfinished basements that I can convert into 3/2s. 

Other suggestions for learning more:

@David Neff welcome! You've definitely come to the right place!

Whichever method you choose to focus on (wholesaling, flipping, buy and hold, etc), you'll find tons of information about each in the forums! 

One of the most valuable tools BiggerPockets has to offer are their calculators: https://www.biggerpockets.com/real-estate-investment-calculator

All the best,

@Remi Oguntoye welcome to the BiggerPockets community! 

I would suggest focusing on one thing to begin with (wholesaling, flipping, buy and hold, etc). 

You could also reach out to some more experienced investors at the next meetup you go to and see if there is some way you can help them on their next deal. 

All the best!

@Nick Engen welcome to BiggerPockets! Glad to have you join us! 

All the best!

@Shawn Durley welcome to the BiggerPockets community! 

Keep reading, asking questions, and listening to the podcasts. There is a wealth of knowledge here!

All the best,

Great to hear some real-life stories! Still can't get the image of @Brandon Turner's toilet fiasco out of my head haha! 

Hi @Nicole Brown !

I would start by reaching out to an agent (perhaps go to your local REIA and ask for suggestions) and ask them to send you multi-family listings.

Also, make sure to brush up on your deal analysis, so you can jump on a good deal when it comes along. 

Checkout: https://www.biggerpockets.com/renewsblog/2014/09/28/analyze-rental-properties/

All the best,

Andrew

@Kristin Hobbs way to go on your first investment property! Looks like you're off to a great start!

All the best,

@Hai Nguyen welcome to the BiggerPockets community!

This is what I would recommend:

• Read Brandon Turner's book on rental property investing (great overview) https://www.amazon.com/Book-Rental-Property-Investing-Passive-ebook/dp/B018UTI2DO
• Listen to the BP Real Estate podcast https://www.biggerpockets.com/podcast
• Listen to the BP money podcast https://www.biggerpockets.com/moneyshow
• Attend your local https://www.biggerpockets.com/forums/521-events-and-happenings
• Start analyzing deals to get practice
• Engage more on the BP forums and connect with others
• Post a profile pic ;)

All the best!