All Forum Posts by: Chris Music

Welcome Darren, sounds like you are rocking it, 12 units in 3 years! Keep it up.

Welcome to BP, this is a great resource for learning about all aspects of RE investing. Your plan of buying a multi-unit and living in one of the units sounds like a great idea! Good luck.

@J. Martin thanks for taking the lead on this. Count me in.

@Denise Madrid see you there!

Hey Chris,

Welcome to BP, there is a great forum on the 2% and 50% rules that should help you get perspective on if this is a good deal for you:

http://www.biggerpockets.com/forums/88/topics/13335-5-rule-and-the-2-rule

These are just general guidelines but a good way to make sure you play it safe the first time out.

Building a house from scratch is a major undertaking and given your level of experience it would be easier to rehab rather than build your first time out. Having said that, it all depends if going rates for properties in your market are higher than the cost to build your own. Reach out to local builders/contractors to get a gerneral idea of how much it cost to build a new house then compare it to listings on the MLS.

Jimmy,

Welcome! glad to see you are getting your education. BP has some great resources. Check out the beginners guide if you haven't already:

http://www.biggerpockets.com/real-estate-investing

Very awesome! Good luck closing those leads!

Awesome! Thanks for making this happen.

Ollisha, awesome name! an earnest money deposit isn't required but most sellers will take your offer more seriously if you have some skin in the game. If you are set on not offering a deposit you will need to make your offer look more attractive in other ways, maybe increase the offer, decrease the inspection contingency period, promise a short close. Or if you can show a track record of closing deals the seller may feel more comfortable. Good luck.

Julie,

Welcome and thanks for jumping in to offer your wisdom, sounds like you have some experience to share! I'm a rehabber in Contra Costa County, always good to see fellow NorCal investors.