All Forum Posts by: Ari Hadar

 @Ari Hadar

Rent and ARV are two very important numbers and you just have to put in the work to find them. Take this with a grain of salt as I'm a new investor to Baltimore as well.

Rent: Scan apartments.com or craigslist.com and see what similar homes are renting for. A step further would be to reach out to these places and ask the property managers whether they're struggling to rent at that price or finding it easy. A step further is to have an excellent property manager who should know this data. Rentometer is great but it's only on piece of data. It'll give you a ballpark but they can easily be off and you need to verify those numbers anyway.

ARV: is easier to find. Go to Zillow.com, or Redfin.com (I find Redfin has more data) and look in the exact area of the home you're interested in and look at homes sold in the last 3 months. If there aren't many close by, bump it to last 6 months or last year. Most places looking within a mile radius will do the trick, but in Baltimore, you really want to find homes within a block or two. Any further, you need to know the area well and likely it is very different. And then just look at the most similar homes (bedrooms, bathrooms, total area, similar finish) and those are your comps and likely the same comps an appraiser will make to determine the ARV.

Besides reading and consuming BP, in a city the size of Dallas, you should join a local reia. The number one thing I would do and still do is analyze properties and deals everyday. Pick out a property and follow it through it's life cycle. Off market to market to sold to rehab to resale. Try to figure a way to buy every deal you see. This will help you identify a real deal. Eventually you'll notice when someone gets a good deal. When the next good deal is there, you'll be less nervous because you've already seen someone else go in for the kill. It's like when a lion tries to take down a zebra. Once they identify the one, they don't worry about getting kicked in the face. They just attack. That will be your mindset.

Clint

I was justvlooking at Reia website where i want to invest and it's only one hour a month meeting (first free , after about 20$ each meeting). It seems not so much. 

About analyzing deals i find the comps very problematic and i havevto consult an agent about the comps and rehab estimates.how many properties should i analyze a day and how do i keep track with the analisis? You don't have the past comps to analyze old buying and selling of properties so it is tricky. 

Sorry what are you asking? You are taking 90k out of a stock market account ar 1.59% interest and want a 60% refi at 5.25-6.5% interest? Are you trying to purchase and you have the 90k down and need 60% more to purchase or?

@Stephanie Barthelemy 1) Without being paranoid, instinctively discount and thoroughly verify rent projections. Can't tell you enough how many inaccurate (always high side) current rent estimates and unrealistic rent growth rate projections I've heard/read and suffered from. 2) Have mental and $ reserves - you have to accept that "stuff" will happen. Known to many investors that sold after a minor setback or a series of objectively minor challenges. 3) Never let "Bragging Bob" get you down - you will invariable meet this person socially, at work or god forbid in your family. "Bragging Bob" got a lower rate, has a better cap rate, choose a fast growing city, etc. and he/she is just so excited to let you and everyone know. Smile, be polite, and don't waste a second on their one-upper b.s. The goal is what's good for your pockets and your situation. keep your ego in check and do you. 4) contractors that finish on time and under budget are like unicorns that fart rainbow-colored glitter. Not saying it doesn't happen (perfect results with contractors), but your financial modeling needs to account for an oh crap scenario that includes higher costs and delays (lost rent).

 I mean that i hope it is like that and i have no clue what happened. 

That was my initial thought. There is probably a clause in his contract that states that as a face of BP he is not allowed to post on certain topics I.e. politics. I thought BP most likely confronted him about certain post and he refused to comply. 

@Ari Hadar.

I can still find distressed homes on mls. The niche we buy in there are no wholesalers that I’ve come across. We buy in Toledo.

@Stephanie Barthelemy

We live in Phoenix and invest in Ohio.  Make sure you have solid boots on the ground, a good realtor and network with local investors.  We actually self manage the majority of our portfolio from 2300 miles away.  I can collect a check and call the plumber just as well as a PM.  The boots on the ground fill in the pieces where I can't perform remotely such as unlock a door or collect a lock box.