All Forum Posts by: Dave Kush

I think what you say is most important. If you are very clear that you're selling the contract, a couple photos would be ok, then after you get somebody interested, can get more in detail. You can't really show a picture of the contract. I've definitely seen pictures in wholesale offering. Not sure if legal, but definitely happens. Again, make sure what you say is crystal clear and leaves no ambiguity. 

Check your state, but double closings are usually legal.

Sure, I definitely would recommend David Greene's BRRRR book. It's pretty comprehensive.

In terms of adding units...that's a tough one. Usually, provided all the units are attractive, you would probably get more total rent. An important consideration for a SFH is separation of utilities. You want to be able to meter them separately where possible. The quality and age of property is important too. Probably the biggest key is the layout and how well it lends itself to being divided.

The challenge with BRRRR right now is interest rates and getting all of your money back out. But if you bought low enough, you can still do it.

I think you've got the process generally right, but recommend being as accurate as possible on the cost and the ARV.

I see the comps are similar in square feet.  Are they similar in other ways?  Beds/baths/amenities?  My guess is that if the two houses are the same square feet, but the rooms are different, you would get different ARVs.

As long as the numbers work, locations are good, I'd rather have newer than older. I can't see any downside, however I'm interested to see if anybody else does. 

Good question. 2 things that come to mind....

If the market allows you to BRRRR a duplex with 200k, that's going to be ideal. Minimal risk, cost, etc. Then it's on to the next, and so on.

If not BRRRR, then I'd say put down the min and get as many as you can.

Good Afternoon! 

I think more info is needed to provide an answer. If they are near each other and in one spot, it *probably* would be possible to build around them. If they are spread out, could be a different story. 

I would recommend a very through background checking service. I use this company... Found it to be more useful than RentRedi, etc. 

I have no affiliation,  connection , other then being a satisfied client. 

https://ntnonline.com/

Good luck and congrats!

Dave

Some agents might pay, but for them it's more like a referral than a lead.  Maybe you can use these as an opportunity to gain rapport with agents in those markets.  IE: you send them leads in exchange for access to their flippers.  Then you have a person in that market if you get an investor deal.

I agree with Kevin. The rule of thumb can be useful for sizing something up to determine if it's worth investigating more.  Before you make an offer, find out all you can. It might even be worth it to reach out to your contractor for a quick conversation.  If you've looked at the house, including the foundation, I'd make a list of all the repairs you think are necessary.  

This is also what inspection clauses are for.  Make your best estimate with the info you have.  If during inspection it turns out to be a light repair, great--you've accounted for that.  If it turns out to be really serious, like described above, then you can renegotiate with the seller and/or cut bait.