All Forum Posts by: Brandon Smeltzer

Partnerships definitely seem tempting as a newbie-more people, more money and knowledge right?... I'm glad you guys brought up the point about unequal motivation and effort from either. Never really thought about it like that. Thanks!

Thanks @Chris Pasternak!! If you were a buy and hold kinda guy which affordable Pittsburgh neighborhood would buy your first rental?

Thanks everyone for the advice!!! There seems to be differing opinions on the whole lock box code to a stranger issue. 

I'm pretty sure that he's the owner. He offered owner financing (8% APR) The house is empty and he said that some pipes were stolen from the basement. Is that still relatively normal or does it indicate an unsafe neighbor and thus a bad investment for a buy and hold rental? The house seems at least 60 years old and would soon need a new HVAC system. Im looking in the Pittsburgh area. There's seems to be a lot of houses out there that are very old with small yards. Are any of the neighborhoods good investments if a house is this old?

@Andy RobisonThat's a good point. I guess the first thing I should learn is what are good or bad practices. 

*whew* ok, great. Will not enter.  Man, good thing I had BP by my side. Thanks @Jeff B.!!!

I just called an owner about a property that I'd like to see in a couple of days. He said he had some other properties to show but he said he would give me the code to the lock box so I can check it out. 

My wife is worried that this is not only an abnormal thing for an owner to do, but it's also a huge liability for me to go and see the property. 

Is this true?

Thanks!

Fantastic.

@Leland Barrowundefined

@Leland Barrowundefined Thanks for these next steps. Great advice. I never considered being low on the wholesalers list. I guess 5 properties a month seems like a lot more work than driving for dollars?

Thanks, Logan! I work in medicine and don't plan to quit my job anytime soon. My goal is a little too big to admit at this stage as an aspiring investors. My 10 year goal is to purchase multi family complexes by using something like Brandon Turners "7 years to 7 figures" model, multiplying that x 4, and using the equity to purchase the multi family units and then rely on the cash flow as passive income. 

I know it's in theory, but how many investors can truly find a four plex for 80% of market value and produce a 10% increase in the ARV?

If I'm learning how to find and manage the right contractors and prop managers, does it make sense to also spend the time to learn how to pursue motivated sellers if they're few and far between or the wholesalers have already found them?

Thanks!

Would you guys recommend using a wholesaler to find your first deals?

I've searched for this answer, but after searching through a pile of results, it seemed like a needle in a haystack, despite how basic it was.