All Forum Posts by: Bradley Benski

I would of loved to stop by, but was tied up with other business until 8:30PM

@Mark S. 

 It really depends on your expenses and goals!  You've got to do some research and find out how much your expenses are going to run, then see how it fits into your overall Real Estate Investing goals.  Others have outlines items you need to include in your expenses.  There is also some spreadsheets here on the site to help you with analysis and include items you may not of thought about.

@Gregory Casey Welcome to the Site, lots of good information here, have fun!

Hey Scott,

Sometimes it just takes time.  I remember spending over 5 months with funding and evaluating deal after deal and getting outbid before some friends and I finally landed our first house.  Funny is that afterwards we had a good 5 months of finding stuff.

As mentioned above, get together with a local REIC and you can find out if it's truely a "Sellers" market or not.  I remember a time when I was looking for a house and put an offer in over asking price, they came back asking for "Best and Final" indicating they had 15 offers above the asking price.

Sometimes it happens, sometimes it doesn't.  Also as mentioned above make sure your broker is oriented towards investors and investor expectations regarding pricing.

Bottom line is that "your" price should be based on the income potential of the property and your goals.

Your inspection will tell you if the Foundation is an issue and you can get estimates for the repair.  Make it part of your conditions in any offer, then come back for concessions or walk from the deal.

If you're numbers look good it's worth it to keep walking down the road towards the deal.

I can understand your fustration, but that's part of the business.  Everybody needs to provide quotes, get information, etc.  It's just the cost of business.  Bottom line, if the property doesn't make financial sense to you then it's not worth getting into.  You did the analysis and determined what "you" thought it was worth.

Your number didn't suit the seller, that's the way it goes.   Importantly you didn't go breaking your high number just to chase the deal.   So you had to order a police report, pennies compared to spending over 60K for this property..........

@Tom Mole

Thanks, Tom. Yes, putting together plans and actions seems to be my way of life. Always looking to analyse deals. Since hopping on the board I think I've looked at 100 potential deals online.

@Jon Klaus

Thanks, Jon. Looking forward to all the site has to offer and hopefully being a strong contributor for years to come.

@Rocky V.

Rocky, we definately have to meet. Maybe my next trip to the States. I'm down in Houston waiting on a visa before going out of the country again. My family has ties to the Arlington/Grand Prairie area.

@Jaren Barnes

Jaren, Thanks. A lot to go through on the site. Making my way through the beginners guide now. I find that when cruising the forums it's just so great to hit links of posts recommended by others. By the time several posts are read the browser tabs are starting to stack 10-20 high, LOL.

Hello,

My name is Brad and I'm A Real Estate Investor.......

Currently I have full interest in 2 properties that I own outright, one in the DFW area and one in Socal and am in a syndicate with others on 9 tax foreclosure properties in the DFW area.

Real Estate is a secondary activity for me as I work overseas and spend the majority of my time outside of the US.

As of now it appears our syndicates are going to start selling the properties and as they sell I'm looking to Lather/Rinse/Repeat the process but do it on my own (not as part of a syndicate), if I can.

Short goal is to be in 1 property by the end of 2014, 2 more properties by end of 2015 (total of 3) and 3 additional properties in 2016 making 6 total by end of 2016. Beyond that, start moving up to multi-family properties with the intent of building an income stream that can supplement then replace my working income stream.