All Forum Posts by: Dave Hemrick

Hello everyone,

I am interested in learning your best practice to gather leads to then take the details from those leads to use the calculators on this site to determine if it will work for you. Do you like to direct market? Do you have any particular sites you would use to search for investment properties. I am currently interested in multi unit properties and I am reaching out to learn from the ground up. 

Thank you!

I like to use Zillow to find out the price history, taxes, schools, etc. For the purposes of buying investment properties, what is your best practice? What site or sites would you use for leads to analyze?

@Dean Klein It is a C to D area for sure. I know it will be 20 to 25 percent since I will not be living there. .2 x 40,000 is 8,000 and then 20,000 in repairs. So I am in the hole for 28,000 minimum right off the bat. I can come up with the 8,000. Do banks cover repair costs? If I go for this deal, can I use the equity in this property to purchase another one? 

Thank you so much to everyone for providing your insights and being upfront with some not so fun moments when it comes to investing in real estate. My plan is to just own the property. I do not want to live there. I found a duplex for 40,000. Both parts are vacant and currently do not have any tenants. The seller said it can cost 20,000 to 25,000 in repair costs. The rent is 1,300 total. I am also looking into using a property manager. Anyone have any thoughts on that property?

Hello Everyone! I am super new and wanted to see if someone can provide a step by step guide (or can point me to one) on how to go about purchasing your first multi family (duplexes, three-plexes, and four-plexes). Then, how can you use that first purchase to then purchase another one? My main goal is to own multiple multi family properties so that I can maximize potential passive income. Any help would be greatly appreciated! Thanks BPers!!

Important: I do not own my own place right now (I rent) nor do I have lots of cash on hand. I am most likely looking at bank financing for my first purchase.

Location is Norristown, Philadelphia, King of Prussia, East Norriton, etc.

@Marvin McTaw Thanks for the link. I saw your response. I am at the very beginning stage of looking for cash buyers, however, since I am so green at this, I need a little hand holding. Do you have much experience personally with wholesaling?

Hello fellow BPers. I am new to the REI scene and am looking to get into wholesaling since I have very little money to start with. What is a play to play on how to get either land or a property under contract to quickly give it to an investor who will run with the purchase?