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All Forum Posts by: Clark Harrison

Clark Harrison has started 6 posts and replied 14 times.

Post: First Investment Property At Naples Florida

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

@Rachel Santos hey! Not yet. My partner and I had a few on the hook here and some in other states. We are doing the BRRRR strategy so finding the right deal is important. Hoping to land one soon

Post: Finding brrrr deals 2021

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

Happy new year fam!

My partner and I are against the wall at the moment. We’re having A very tough time sourcing good deals to brrrr.

We are relatively new at this, but we have all our ducks in a row and educated ourselves and are ready to go with the strategy. However the biggest setback we are having is lead generation for deals. 

We are primarily looking in Florida since that’s where I live (but open to other areas), and we have some agents looking as well as wholesalers. none of the wholesalers have had much inventory and the realtors don’t seem to grasp this concept enough and keep sending homes at market value from mls.

Would you consider foreclosures? If so, I need to educate myself on them. Any other tips or advice to increase flow into the funnel? Much appreciated.

Post: [Calc Review] Help me analyze this deal!

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Post: Looking for RE lawyer

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

We have some deals pending, and I know the importance of having a good legal team involved. Is there anyone who would want to work with me? 

Post: Advice Starting BRRRT

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

@Whitney Hutten I really appreciate this advice! you are right, I am needing to "make the deal". See what the number would have to be for the deal to work, then go for that. I learned that from Brandon Turner in the last webinar. As for writing offers each week, I'm sure the price ranges will be all over the place. I will be using creative financing (hard money, private money, and/or personal cash). How soon should I have that money available? Once I find a deal that works? My plan was to find a deal that works, write it up with the BRRRR calc and get it verified by the agent, appraiser, and/or contractor so the numbers are arv are solid with hopes that strengthens the hard money/private money process. Thoughts? I so appreciate your input!

Post: Advice Starting BRRRT

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

@Miller McSwain thank you for responding! "looking on my own" has been locating good school districts, finding the neighborhoods, looking for properties on sale that need good amount of work, or homes that seem distressed, then doing sales comps and rental comps to see if the numbers add up. And I just have recently started driving for dollars since the few agents I'm working with aren't really providing much. I only have one wholesaler group so far and I'm checking their portfolio updates. 

Post: Advice Starting BRRRT

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

@Mike McCarthy thanks for commenting. The only reason I’ve turned down a deal is because when I run the numbers, it either won’t rent for enough to have positive cash flow, or, there won’t be extra equity in the deal after all is said and done and I refinance. So basically yeah the price is too high. Since it’s my first one, I want to make sure I end up positive at the end. Thoughts?

Post: Advice Starting BRRRT

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

I've been searching for my first BRRRR deal for about 70 days now. I've utilized some realtors as well as some wholesalers, also looking myself. I'm also looking in a few other markers besides Naples Florida where I live.

Since I’m new at this, does it really take this long to find your first deal? 

 i've listened to many podcasts, videos, and read the BRRRR book too. I know the importance of buying right to ensure extra equity after all is said and done. Is it just a weird market right now? I feel like it shouldn't take this long to find a good brrrr deal. Any advice? Or experiences to know if this is normal or not?

Post: Structuring terms w/ a partner for the very first deal

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

Hey fam! My wife and I are ready to take the plunge and start our investing business. We live in Naples FL, (which is a wealthy market), and likely need a partner for our first deal. After talking to a lender, I learned We either need to continue to raise our credit score for a few months, or find a partner for our first deal.

Because this partner would likely be the only one on the mortgage, thus absorbing the risk, I’m looking for partners who don’t live here so I can make sure we ensure value in this deal besides just putting up half the money. 

I’m looking for advice on how to drum up a proposal. Besides splitting the down payment, income, and equity, I’m offering to do the work and running the business management since they would absorb the risk w/ the mortgage. Is that a good proposal? Any advice on other things I should add or change? I know a fair amount of people who I can bring this to.

Post: First Investment Property At Naples Florida

Clark HarrisonPosted
  • Rental Property Investor
  • Naples, FL
  • Posts 16
  • Votes 4

@Astrid Lorenz So grateful for your reply! I’m messaging you now