All Forum Posts by: Brendan Quinn

Its hard Trying to decide on a location to invest in. Knowledge is power   

I can think of a few things that would be really useful for predicting an areas home values or rent in the future. Knowing things like median income for an area,  median rent , population growth, unemployment and investment of companies are some information that id like to research.  I need to decide to sell or hold and im wondering if anyone can reccomend the resources or techniques to research the things i mentioned?

also any recommendations on what else I should consider. What helps you determine if an area will have rising property values in the short term or long term? 

Any websites or tools??

Missed that one!  By a while. Im Interested in next time 

Thanks for the feedback.  

I have an investment thats been stable. has not required much upkeep

two years iv owned it without much difficulty finding renters hvac, roof without issues so far but are on the back end of expected life.  House 2004. 
im trying to decide if it makes sense to keep it  or lose it now before big expenses. Cash flow of 300 a month without considering vacany or the expenses of inevitable maintenance.  

Feels like its smart to sell because if i pay for a new roof or hvac my cash flow will take a long time to get me even on that out of pocket.  Selling seems right but i took depreciation on the property, so im wondering the best strategy here 

Interested in the next one

hi everyone my name is Brendan and i'm considering my first BRRRR. I think I can use a cash offer,and do the rehab with a low enough cost that i should be able to refinance and get everything back, so far i have only briefly looked at comps and talked to a contractor got some rough estimates and at first glance it seems like there is a lot of potential for this to work., mainly because the house seems to be such a mess that i can get it for a great price, foundation issues, roof issues, dated kitchen, very old house needs electric all new new heating system, seems, like a complete gut, the quick estimate on the price of the rehab surprised me how low, around 60K i didnt expect it considering how much work needed to be done, so im definetely going to have that itimized maybe even try to get some sort of contract written up with the contractor before i buy the house,

so i guess next will be making sure my comps are what they need to be,  getting a better idea of what the rents i can expect,  and talk to a lender about the process for the eventual refinance, 

what i am more worried about is the extent of the work that needs to be done  and some of the problems i should look out for or be prepared to meet,   the foundation issues are scary but they already warned me about it  when i talked to the sellers agent. the agent seems knowledgeable and she referred me to a contractor and a mason, haven't spoken to the mason yet but the contractor is an investor himself with years in the business, and ill be looking into his track record a bit more. so far i have a good feeling about them.

  it seems the price for this single family home is low because of how extensive the damage is,  initial estimate was around 20k for the damaged foundation wall to be fixed, and 40k more for renovations to the house.  seems oddly low to me but maybe that was leaving a lot of the detail work out, 

so basically im wondering about the process with permits since the damage is big .  do i leave all that to the contractor? can i be proactive about it before i buy the house? and is just contacting city hall or speaking to the contractor the best way to do that.

what are some considerations when it comes to a major renovation that i need to be on top of , i feel as though i must be missing something because the numbers seem to be there even if the contractors numbers wind up under the actual cost,  a few other people have apparently passed on this place over the last few years because the contractor said he has walked the property not very long ago and remembers it. so someone else must have been interested in the near past. 

I am currently reading Mr, Greens BRRRR book and its helpful. ill finish soon im about half way but i have thought about BRRRR as a next step prior to getting the book .

any advice for someone who owns a few rentals but always did conventional loans and never this type of major renovation, i have some basic construction knowledge, i consider myself fairly handy. hanging doors and doing tile is not foundations and water damage, plumbing electric  yikes,  i should get a few different estimates from contractors for sure,  

, maybe someone can direct me as to a proper sequence.  about the order i should be proceeding in and what i should cross off  the scary potential problem list by looking into it further before i proceed.   definitely don't wanna buy before i take critical steps that would become a problem after i own the property and should have looked into earlier. 

thanks for any advice!!   

im new to this forum and forums in general   but ill be contributing and visiting the site more,  been listening to the podcast a while now!!   Great stuff