All Forum Posts by: Daniel Guerra

@Mitch Messer, @Sam Shueh

Thanks for the input.

The rehab/investor guy mentioned he can send me pictures, but figured he can easily send me fake pictures.  

I agree with both of your assessments. 

My plan is to partner with a real estate investor on a deal I found.  The home is under contract and will be closing real soon.  The partner will be managing all of the rehab work.  I’ll be putting up all of the funds except paying the contractors.  My partner and I have agreed on the percentages of the profits after ALL costs.  

I met the investor once and talked to him via phone countless of times.  He would at times conference call with other individuals on his team to increase his validity.  He claims to have done 200+ rehabs, claims his work is top notch, and has his own crew of workers.  

I asked him for investor references so that I can find out more about him without him being present.  He mentioned he would give me references once he sees the home.  I asked him to go see the home.  He mentioned he will see the home after I close on it.   I also asked him to see one of his latest projects.  He gave me an excuse that I don’t recall.  He seems like a busy Individual.

How can I find out more about him?  Does any of this sound a little suspect?  Any tips/suggestions?

Thanks for the responses.

@Nish Ravichandran 

Goodluck!

@Wayne Brooks

Thanks for the response Wayne.

Why is it a risk for an agent to grant access to an "investor"?

I'm looking for some good advice on how I can access the Northwest Indiana MLS access for comps to accurately figure out an ARV (after repair value) for a home. I understand that you can get your Indiana realtor license for MLS access. I also read that you can become a "secretary" or "assistant" to a realtor for MLS access.

Would I need to contact a brokerage to become an "assistant"?  Would I need to contact a realtor in Northwest Indiana and ask?  Is becoming an "assistant" far fetched?

I'd like to avoid getting the Northwest Indiana license myself because I'm doing my own direct mail campaign. 

Thanks for the advice in advance.

@Ned Carey

I plan on implementing the BRRRR strategy. Plan is to pull out all the cash (hopefully make a little extra cash) I initially invested buying the property and have some equity in the property. Also keep the property in a great neighborhood (low crime, great schools, low property taxes, etc.) for a rental.

It all starts with the deal.

Anybody have success buying probate real estate?

@Dave Passey @Matthew Paul

Thanks for the insight!  I’ll continue to push my own marketing campaign.

You ever purchase a property at a sheriff sale?  

@Henry Lazerow You killed it!  Great job!

I dream of doing a property like that one day.

@Sezuo Daudu Hammond is a class C area.  There’s some ghetto spots in the middle of it.  I’d avoid that part of Hammond.

Dyer is a great area.  Its a class B neighborhood.

Merrillville is mostly mix from my understanding.

I've been looking for a rehab property in B class neighborhoods and so far nothing has materialized. I'm using the typical general equation: ARV x .70 - repair costs = purchase price.

I understand the markets are super red hot now however.  Nothing is impossible but seems like the chances of finding a deal according to my equation is .1% or less in a B class neighborhood.

I see a few C class properties that meet my equation but I do also plan on holding the property as a rental.  I see a lot more issues holding on to a property as a rental in a C class neighborhood compared to a B class one.