All Forum Posts by: Adam Zach

@Jon Jones I have my PE but never directly used it nor have I heard of someone using it.  I think it is more geared towards your W2 than RE but certainly has come credibility.

Nice work. Fargo is a great place. 

@Chris Gonzalez my experience it can be tough but would suggest local credit unions as they are more flexible than banks. Hope that helps.

@David Paul hear the same thing. Are there local real estate investors that could would buy it for you? We do the same in the Midwest and may be cheaper than hard money

$10,000. no rime or reason but that is my experience minimum threshold.

@Patrick Owens interesting take on personality test and DISC profile. 

@Jaron Walling you got it. Sorry for late reply. didnt see comment. really took this idea from Kris Krohn on lease options and furthered it to have the tenants find the home instead of us searching for the properties ourselves.

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.