All Forum Posts by: Account Closed

Are you a contractor? A builder? A realtor at least? What is your angle to compete against the others in your local area who do this professionally?

My criterion is the deal cash flows. The way I am invested currently does. So selling one of those investments to buy a non cash flowing property is not acceptable. I wouldn't take landlord risk/responsibility for "appreciation hopes" only. People old enough to remember, back in the day, didn't either.

For you people saying Zillow is good, can you post an address of a property you bought there and the current rent you are getting, so we can run the numbers ourselves and see what kind of deal it was. I can get the rest of the info for the pro forma myself once I have the address. 

I'll believe a good deal was bought off of zillow in the last 2 years when I see it. If you aren't cash flowing well year 1- with proper expenses built in- or worse, you are underwater.. sorry. 

Class D/war zone areas excluded please. 

 I mean, I think he's hoping he can still strike an off market deal and cut the realtor out. He doesn't understand, that the realtor isn't going anywhere at this point. 

At my local meetups, I find people have pipe dreams when it comes to this part. Scrimping here is probably the only way they can make themselves think the deals they bought looked good enough on paper. 

The only value I see in not underwriting this part correctly is helping themselves "take action". Actions they shouldn't take.

All of that has to be built into your pro forma. 

 That makes sense :) If you said you were pulling that off in Orange County, or So Cal in general, I'd have thought you must have Djinni in a lamp. 

Realtors don't exist to find viable real estate deals for investors. They exist to hunt commisions. 

Realtors may disagree. Ask some investors instead. If you find one who actually has a realtor that brings them lucrative, year 1 deals, ask to use that realtor. Tell me their name while you are at it. 

Sorry to hear a realtor is already involved. They'll most likely be pressing for full market value, making it no longer pencil. 

 Getting the owner to sell for significantly less than the realtor would price it at. Is what they are trying to accomplish. You know, to buy an actually viable deal before the realtor wrecks it for the buyer. 

 Orange County? Are you claiming you are buying properties that cashflow 9-12% a year in Orange County? in 2023? Just checking before I say more.