All Forum Posts by: Jordan Alexander

@Amanda G. Thanks for the feedback! Yes I will be checking into how long I need to stay but we're going to get in and out as quick as possible.

The repairs are minimal; it needs paint more than anything but I will also need to purchase a refrigerator, push mower, and weed eater since I will be doing the lawn myself. Other than that the only thing that is really broken in the house is the garage door opener.

Our plan is get into an even cheaper home for the next one with a little more meat on the bone and repairs needed. This one is just to get our feet wet and is relatively save, I hope. We are going to save about 10-15k up before purchasing again. Scaling slowly but without huge risk.
 

Let me know what you guys think about my first investment. For sale by owner, probably not one with as many repairs as normal but I needed something relatively simple to get the wife confident with the process. Doing a conventional loan with 5% down. Our goal is to live in it as owner occupant for 3-6 months then rent it out while we go buy another single family or possible small multi. Hoping this will kick start me into a few more properties!

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@Sharon Vornholt Thank you! I definitely will!

@Marlon Johnson @Ehsan Rishat

Thanks for the input! I will put these things into practice ASAP! I just want to find an actual deal for my first property instead of overpaying on the MLS. I'm not working with a ton of capital yet so I can't afford to take huge risks. I am still interviewing agents and am still pursuing a mentor in the area. Once those get into place I think I will see some opportunity.

Well friends, I'm in hot pursuit of my first deal (looking to house hack / turn into a rental, SFH or Small MF). So far I have made 5 offers in the past couple weeks but have gotten outbid every time. I live in rural Oklahoma and would like to invest close but am really struggling with MLS deals right now. There's not a lot of prospects on the market right now and most agents I've found really don't understand what I'm trying to do. Lately I've shifted focus to driving for dollars and gathering contact info from other investors in my area.

My question is this: What is the best practices for using direct mail? Also, what is the best way to contact other investors about whether or not they might be looking to sell some of their portfolio? And lastly, am I missing anything as far as generating leads in a small town? 

Thanks for your input in advance, I value it greatly! 

I'm ready to get my foot in the door, literally!

Guys just wanted to update you: I stuck my hat in the ring at 60k but other investors outbid me and it sold for 67K. Think they were a cash buyer as well. It's tough to find this first property. I want to hit a home run but also just want to get my feet wet with that 1st deal. So far I've made 4 offers and all rejected. I am learning some patience.. Lol

@Jaysen Medhurst @Nicholas Anderson @Wyatt Dooley

@Jaysen Medhurst Plan is conventional at 3% (bank said they can do it for owner occupant), live in it for 6 months to year then rent it out and start over. I will definitely bump up my repair and cap-ex numbers! We will probably manage our first few by ourselves and then find a manager after we get a decent sized portfolio. It's a forclosure so I'm expecting a bidding war with some other investors. In your opinion is it go? Thanks!

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