All Forum Posts by: Ari Hadar

No you don't.  Right now some markets are really hot. Are you looking to do flips or long term rentals?  Flips require a lot more work and knowledge or you can get in over your head quickly.  I'd start with something that needs no work or minimal work until you have a better idea of what is involved.

Hello Ari,

Coaches are very useful, but you should not have to pay for one. Keep putting yourself out on BP and tell everyone what you're doing and you'll find some coaches. Here in my market I've found several investors who will support me if I need the help, although they're aren't coaches, they're my team. This is crucial for any investor. Let me know if you need any help!

Meaning if you are unable to flip the property could you rent it out instead and not lose money? Say you anticipate the house to sell at 250,000 and your all in for 230,000. Say the market drops and now the home is only worth 220,000. If you were to get a mortgage on it would renting it cover the expense of the mortgage so you could hold it for a while until you get to your at least break even price? 

I attempted to flip a property way back when and it did not go as planned. It sat on the market for 4 months and after commission costs and the carrying costs of taxes I would not stand to make a dime. So I said to myself you know what let me rent it real estate values tend to go up over time. I made a whopping 30 dollars a month cash flow. Well fast forward to now obviously being a hot market its 100,000 dollars over my original expectations to sell it. And I will continue to hold it as a rental because rent has also increased. 

@Ari Hadar If theres enough meat on the bone during a downturn and with the crazy lumber prices then yes. Many speculators lost their shirts and files bankruptcy during the last crash because they could not get out of the deal at a profit / pay back hard money. You can make alot of money certainly just make sure you run the numbers and they make sense and can tolerate the risk for the worst case scenario. If you have an exit strategy or at least can rent it out at a profit instead of flipping then do it. 

Hi Monica, I worked with Martel Turnkey and they offer properties in Cleveland and Memphis. Let me know if you want to connect and chat about the purchase process or just questions in general about turnkeys. 

Hi @Ari Hadar, this is certainly a path to profit in real estate, but I would highly recommend that you make sure that it aligns with your total values and goals for investing.

This approach relies on investors (almost exclusively out of state and out of country) paying MORE THAN A HOME IS WORTH based on the rents.  It is very difficult to do this honestly, but maybe not impossible.