All Forum Posts by: Coty Dolan

Hello @Lawrence M. , thank you for your service brother, I am a veteran as well. 

The VA loan is a great tool to have at your disposal, as is an FHA 203k Loan. You could use both loans to increase the velocity of your investing. There a plenty of places that will cashflow even with a 0% down VA loan, and then you could use an FHA 203k for your personal residence, possibly a small multi-unit? After a year or so move-out, refinance potentially have 2 properties, with 3-5 total cash flowing.

Just an idea, but no matter what you do I wish you the best of luck!!! congratulations on staring. 

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

Spicy Thread lol 

Hello @Tyre Carmon and congratulations on starting your journey! 

From what I have learned from my mentor, BP community, and reading, I am anticipating the rehab and refinance to be the hardest part of my first deal. I am not too worried about the rehab as I do have experience overseeing this type of project. 

All that I have gathered however has made me aware that the refinancing part of the project will hardly ever go to plan, so always use conservative estimates when running the numbers on a deal. 

As for finding deals and evaluation, as @Jaysen Medhurst said, make that your life until you are doing deals in your head at all downtimes. I have done thousands of deal evaluations using all the BP calculators and other REI calculations, until I was comfortable taking my numbers and presenting them to investors with confidence.

Find a good agent and get access to an MLS so you can see what's out there on the market and recently sold comps, and realistic expectations of rehab projects in your market. I also use rentometer.com and niche.com to research target markets.

You have to know and be confident in your assessment of your market. You must the neighborhoods and trends. I invest in the Tampa area, in the Ybor City area, I know the average rent, that there are a lot of 3/1 SFRs there, the ratio of renters vs. buyers in an area...

When using the calculators, if a deal seems too good, it is. watch the videos on how to use them as well as hit um the forums that a relevant to your market, they always have great info on things you wouldn't think of. i.e. what utilities landlord usually pays in an area, insurance, vacancy rate. 

County Accessor website are great for looking up properties and getting good information for running numbers. 

I hope some of that was helpful!!! Congratulations man I wish you the best!

@Brian Goodling hello I'm Coty, I am a new investor in the Tampa area! I hope it's okay if I ask you a question, you seem to know what you are talking about. 

What are the normal utilities that a landlord pays in the area? I know where I am from in CA its standard for a landlord to pay sewer and tenants pay everything else. Does that seem right in the Tampa area? 

Thank you so much for your time! 

Hi @Tyler Mau , my name is Coty and I am an investor in Maricopa County as well. I have been having a great experience with West USA Realty, they do both real estate sales and property management. My agent's name is Tony Chard. he's been great, goes and walks properties for me, sends video, gives an opinion on neighborhoods. Very helpful since I am in Pacific Grove, CA. Let me know if you would like his information. 

Maricopa County Assessors home search site: 

• https://www.mcassessor.maricopa.gov/

Here are some resources I use for finding deals in the area:

• homepath.com
• homesteps.com
• Auction.com (if you are comfortable with long-distance auctions) 

I hope this info helps!

Good luck! and happy hunting!

@Tyler Caglia Hell Yeah! great to hear!

Hello,

I was searching for deals this morning and through looking on the HUD.com website I found the GSA Auctions website (https://realestatesales.gov/gsaauctions/gsaauctions/)

after looking around on it, there seems to be some great opportunity for finding deals. I am wondering what people's experiences have been with GSA Auctions? 

Thank you for your input and advice...

@Will Fraser Yes my mistake, I meant 1.4. But okay thank you you, so should be on the right track for 1,400 sq ft. 
I really appreciate your input thank you. 

Hello, my Name is Coty Dolan,

I am looking to do a BRRRR deal in Mesa, AZ. I am looking for a contractor in the area as well as some input on the deal.

It's a 14k sq. ft. 3/1. I am offering $80k on the duplex, and planning on a complete renovation and add a second bathroom for $90k.

I wanted to know if anyone has any input on major rehabs in the Mesa area and any recommendations for contractors. 

also, is $90k a reasonable rough estimate? 

Thank you for all the input.