All Forum Posts by: Bruce Green

Nice work Greg.  Just goes to show you.  There is most always a way to make money in RE.  Are any of the family still in their units?

Well, I've been a member for about 4 months or so.  Things have changed a bit since I joined BP.  I just bought my first property.  A duplex that I am house hacking with my wife and son in one unit and my daughter and grand babies in the other. 

I was able to pay cash for the units so it is free and clear.  It also came with the next lot over.  Now on to the next deal.  Thanks for the knowledge to make this all possible BP.

A lot of the TV flippers are just actors.  They learn a little lingo grab  a sledge hammer and a camera crew and there you have it.  They are all only after one thing.  YOUR MONEY.  Beware of all things FREE.

Welcome to BP

This is my first attempt a putting a deal together.  I am budgeting for PM cost in my analytics.  My wife and I will do the work of the PM.  Until I get the expenses from the current owner I won't make a move.  Thanks for you feedback.

I have found a empty 6plex.  According to the agent the owner has become tired of the property and is ready to retire soon.  He had no tenant screening process no background checks and so on.  I am assuming that he had tenants from hell and as leases came up for renewal he just did not renew.   Now the place sits empty.  There has been a price reduction of  21% (possible equity) to help move the complex.  I have no other numbers on the property and am waiting to here back from the agent on those.  If the numbers look good is it a good idea to purchase a completely empty complex?

Thanks all.

I've read a couple of different post about investors and when to solicit them.  Most of the post say to get a deal under contract and then seek out investors.  This seems a bit riskier than the reverse.  Can anyone tell me why to sign a contract then seek investor help?

You have an awesome Dad.  To answer you question,  First keep you strategy in mind.  Does your deal support it.  If the deal "the numbers" support you assumptions that it is a great deal and it fits you strategy jump in.  And I mean that you must remember that you are investing to make money.  So if it is a breakeven deal then at some point you will need to come out of pocket for those unexpected / emergency repairs. Also consider your financing requirements for investment properties.

I not sure of your situation but it sounds as if your chain is getting pulled.  Continue searching for a "mentor" you fill comfortable with. My best advice is to not rush into a deal when you are not sure.  It could be catastrophic and very very difficult to recover from.