All Forum Posts by: Avihay Ohana

In full transparency, we didn’t target this type of seller. We sent out hundreds of hand written letters to multi family owners and didn’t filter hotels.

Seller is very motivated and after deep analysis we believe NOI (post rehab) should be around $120-$144K

What would you value property like this?

@Norb Schneider

If you have a full time job - absolutely. Especially if you are planing to buy more.

Finding a tenant and screening them, maintaining the property if something broke down.

Evictions

It can easily turn into another job, then you are missing the whole point of passive income. Find a deal that is 8% better (in terms of rent) and have the piece of mind

I am also an out of state investor buying in Charlotte.

@Wang Judy

Charlotte NC, you can find 1%.

Gastonia, a town 20 minutes away is a great up and coming city that a lot of deals can be found.

I live in NYC and was able to buy 4 properties since July 2020 in those two cities. Three of which are within the 1% rule.

@Cornelius Garland

You hit the nail on the head.

@Dan Auciello

Had the same problem when I started to invest in Charlotte. Couldn’t find the right lender(And I have strict criteria who is “the right lender”. No credit check, no appraisal, can fund in less than a week).

It took me 2-3 weeks, I asked for referrals from wholesalers, local investors Facebook groups and BP members.

Eventually, I found two. One of which was very carful and needed too much money down(out of state lender) and one that is an absolutely blessing and I am grateful to have(local private lender who knows the area).

My recommendation:

Don’t spend a minute with out of state lenders.

Make it your “one thing” this week get 20 referrals. You will find one.

Hi BP members, 

I started called calling two month ago and feel like I learned a lot. 

My first contract should be signed next week and I hope things will ramp up from now on. 

knowing it's not an easy route, I believe sharing ideas, tools, best strategies can be valuable. 

If you are starting out, or already have business going and interested in connecting pm me and lets LETS KILL IT TOGETHER! 

I am just in the process of cracking it myself. 

There are so many different situations and way to go however for vacant: 

Use prop stream. Search for the property address. Look under "linked properties" It will usually give you the owner's main address. 

If it's LLC type in google Business search. search for the name of the LLC. It will give you the owner's name and mailing address which is often the owner's main address. You can use BeenVerfied to skip trace that.

If its occupied go directly to Been Verified type in the name and the main address of this person. 

There is a lot more to it but I found these two he most helpful.  

@David Slafman

I personally target senior with equity, divorce, probate, Absentee owners, vacant, tax delinquent

Don’t let anyone discourage you. If someone does not want to get a text they can respond STOP and system like leadsherpa remove them automatically.

@Ethan Brown

Simply post on local investor Facebook groups. You will get tons of hungry buyers in almost every market

@Tim Lee

Hi Tim,

Which market you are calling to?