All Forum Posts by: Tim B.

If you're really familiar with what you are buying and the property's history, then possibly not. But if you're not sure than I would get one who is knowledgeable in that area. You could also interview realtor's to get their thoughts and figure out whether you need the help. Find a Realtor who is familiar with that type property. Finally if the other person has a realtor than that is more of reason to get one. The commission is just going to go to the other person's realtor and it doesn't cost you anything to get one.

When's the next summit? And what city is it going to be located in.

I agree business casual is a safe bet.

We buy and hold, difference in tax is one reason. Short term gains are at ord. Income rates and long term are at 15%.

We always use eloquent ivory from HD. It's pretty neutral, granted this is for rentals but we get good reviews on it.

Hey Sandy! Great question, I think your right alot of our deals have been from networking and direct marketing.

We look for the distressed deal (not just house) and we look for the complex renovation, in our area people look for the easy to medium fixer upper that can be quick flip.

Since we do 2-4's there is less competition than those who do the sfh, I also think ppl aren't seeing the changes in our market.

Thank you for your input!! I def. value it.

I guess to say it depends on what your looking for, but yes more than enough opportunity.

Its definitely getting tougher to find what meets our criteria. There is still alot to rebuild but with the lending market requiring more upfront I really don't see the benefit to small deals. If you look at the jobs situation I think there is alot more room for growth and development.

We started out investing in small deals probably like most people who have to create their own real estate rental company. We have bought several properties in good to great areas in NOLA that needed extensive rehab so we could gain equity and pos cashflow. Our most recent deal is netting us more than 250k.

My strategy has simply been buy the property no one wants in a great area manage the renovation myself and be pretty aggressive with the purchase price and renovation cost and end up with significant equity so we can do the next deal, but we don't sell we hold onto them and refi or do 2nd loans or whatever, its been much more difficult recently to pull the equity out.

I'm looking to make the transition from these small deals, 2-4 units, to the mid (10-60) and big deals (60-200).

Any strategic advice is welcome or suggested sites or more questions, I'd really just like to make the leap to big deals (60-200), in my mind to make such a leap may be far more difficult and I'm not sure if I should just go with the mid size and not jump to fast.

Also, I'm close to our passive profit equaling and exceeding our expenses. I love what I do but I want to just manage our real estate and focus on this.

Questions:

-Conventional financing for investment seems to be at 80% loan to purchase price, is this right? Any banks doing anything better? I know I could really try to negotiate and find someone who might be in a tight spot.

-Any ideas on financing.

-Are the mid-size residential deals worth going after or should I just give it my all and do what it takes to get to the big deals?

-Where are the best sites to be watching for these (loopnet (premium member), auctions, etc.)?

-I have a small possibility I could financially do the big deals on my own or with just 1-2 investors, the medium deals I could def do on my own, should I just try to do it on my own?

-Any advice is welcome, feel free to answer whatever you can.

Thanks!