All Forum Posts by: Adam Zach

Wow, thank you all for the tremendous responses. I will have to go back and look it up and do a quick tally for the nearly 100 respondents and see if I cant get a quick breakdown to share with you all. Glad to hear there are a lot of fellow engineers looking to build something outside their W2, wish you all the best of luck and would love to connect to talk more.

Is it just me or are about 25% of all real estate investors, also engineers? As an Engineer myself I could be biased but curious if anyone has insight. I know folks usually have professional background like IT, accounting, dr but would be going out on a limb to say engineers cover the majority of all real estate investors?

Investment Info:

Single-family residence buy & hold investment in Fargo.

Purchase price: $219,000
Cash invested: $1

Bought a home for a family who couldnt get a bank loan. We used commercial loan and private money so had zero money out of pocket. We sold it to the family as a contract for deed 30 minutes after we closed so instantly cash flows $500/month.

What made you interested in investing in this type of deal?

Tired of vacancy, tired of being a property manager, wanted a turn key rental property.

How did you find this deal and how did you negotiate it?

The family came to us and we had them shop on the MLS for a home in their price range, we then made an offer on the house that made sense for our monthly P&I payments and a monthly payment the family could afford

How did you finance this deal?

commerical loan plus private money

How did you add value to the deal?

zero.

What was the outcome?

so far so good, have done 8 of these in the past and love them.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

real estate agents, commercial lenders, title company. attorney to draft CFD. Would recommmend them all if you are in Fargo hit me up.

@Richard Ochoa in general there is a big rental and land grab in GF. We personally like SFH over MF but argue yes, better rent:price ratio

connect with wholesalers to what end? jack and Josh, Eric and Brian might be good connections

@Charles Wang there is a local real estate meetup hosted by @Jack Hoss and @Josh Koth who by chance wholesale as well and would be a good conneciton for you.

@Arshad Khan - i think it depends. north and older will get more cash flow now but more repairs later, south is less cash flow but better properties.  there is a real estate meetup that you can get leads from, plus you can connect with Jack and Josh with house dudes, lastly i may be able to help.

I got degree and has helped me personally, if you choose to do so you could have your college buddies rent from you in a house hack so you can still live cheap, just dont rack up student loan debts. tough question to answer via a thread.  I would find some people you emulate and ask them

@Trystan Fuglseth I think you are in a great spot.  House hack is my number 1 recommendation.  single family or 4plex. you can value add within if you want.  I have not done hard money but have private money and would recommend private over hard.  good idea on meetup, jack and josh are great. 

Nicholas - i am not your guy as I do SFH, maybe Jason W, Lee R with KW inspire or Steve Schaffer are about only connections I would suggest for you