All Forum Posts by: Ari Hadar

So, I am new to the BP world and the calculator. I watched the recent webinar with the live example (great help by the way) and I watched the YouTube video with Brandon doing one in Waco, TX (also great insight). I have essentially mirrored the process and all the numbers add up and come to be within the margins I am looking for. (400+ cash flow/month, CoC ROI of 8% before haggling price on property (target price gets it to 12%), little to no work needed) Additionally, it has established tenants on the property till 2021 and is recently renovated from inside out so it will be a buy and hold property.

To me, it all sounds to good to be true but I am also of the thought of why hasn't anyone else jumped on this property as it has been on the market for over 2 months which seems like a red flag in most occasions.  Any guidance/advice/tips would be greatly appreciated.

Amir,

If I were you, I would do a little research on the forums here with real life people.... Choose a half a dozen markets or so and then go into those specific local real estate forums. Look at the people in those local forums that post the most and see what they are talking about. And if anybody in the local forums catches your attention, message them personally to ask them about that market. 

When you post on the forums "I have a lot of cash and no deal", I'm sure you will get flooded with messages of "Please give me your money", but if you sneak around a bit you can send the messages. If you were to take my market specifically (Orlando Fl), you can tell who the good investors are in my area by doing a little digging.

Hope this helps,

Matt

 It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.

I think having one go to metric is a recipe for disaster lol. A 1% rule property can be great in one neighborhood and terrible in another. I look at neighborhood metrics, coc, and market comps to determine value add. Doesn't take much more effort than using the 1% rule but tells a much more complete story about the deal :) 

@Ari Hadar

I use the MLS too. I look at it almost everyday. But you're not gonna find ‘homerun' deals in the MLS. Not in my market atleast.

It means you have to do your own direct mail campaign, drive for dollars, cold calling or ring-less voicemail are some strategies/ you talk and buy directly from a distressed seller. Note: I said distressed seller not property. These are sellers who are in pre-foreclosure, in a middle of a divorce, have financial difficulties and etc. Goal is to help first, get a win-win for both parties. 

Don't you use the mls at all? Are you doing the direct mail alone or through companies? 

Hi guys, I am looking for a contractor in the Knoxville area. Specifically, I am looking for someone in the Oak Ridge area. Do you know anyone who could help a BRRRR investor?