All Forum Posts by: David Slamer

@Victoria Khalfin

Are you referring to the South Park district?

Thank you both, that makes much more sense. I figured I was doing something wrong and needed to work more to expand my network to get those deals in better locations.

Thank you guys, that makes sense what you’re saying.

In the case I am using my HELOC, if the purchase and rehab costs are above the funds that I have available, is that where I could look to a hard money lender to cover the rest?

Or would you recommend working with a partner first before trying to go hard money, especially considering I do not have much “clout” in the business yet?

Thanks!

I am a newbie and working up to my first deal. However, one thing that is concerning to me is that all the potential BRRRR deals I am analyzing in my market (Dayton/Cincinnati) are in D-F areas that are showing little to no signs of improving in the near future. Right now I am mainly just working off Zillow, Redfin, real estate postings, etc.

Am I doing something wrong? Is that the general nature of doing BRRRR deals? Do I need to continue to expand my network so I can gain access to deals in better areas?

Thanks so much!

I am looking to get some insight on the advantages/disadvatanges of using a primary resident HELOC vs. self directed IRA to fund my first purchase.

Currently, I have a 45k HELOC and about 50k in a Roth IRA that I have set aside transfer to a self directed IRA. I have spent the last couple of years reading, listening, and researching to develop my long term goal. Currently, I would fall in the newbie category that Brandon and his guest talk about all the time in that I have froze when it comes to purchasing.

I am in the Dayton/Cincinnati market and my long term goal is generating cash flow with a buy and hold or BRRRR strategy. Ultimately, I would like to parlay the monthly cash flow to fund the purchase/payment of a lake home/rental where we currently keep our boat.

Thank you in advance!

When analyzing a deal, what is the best strategy for estimating rehab cost? Do you only do it after walking the property or inspections?

For a newbie, how do you get close without really knowing what to look for?

Good morning, as you analyze a deal, how important is price per square foot or where does it fall on your list of factors going into buying an investment home?

Thanks!

When looking at As-Is property, what risks are you taking?

Are you still able to build in any inspections to the contract?

Thanks!

Thank you everyone for the welcome! I have about a 45 minute commute to and from work, so I have been trying to listen to at least one podcast a day. 

@James Wise Is there one way better than others to get to know agents? Or, is the best way just to go around to local agencies and see what I can find?

@Darrin Carey I will definitely make sure to attend. I appreciate the invite. 

One other general question, how many deals did you all analyze before buying? Did you develop your own process or follow the general guidelines discussed in many places on here? 

Good evening, I am a complete newbie that stumbled across BiggerPockets as I have been in the early stages of my research. I have been listening to the podcast and reading as much as possible. After reading a bit, I figured it was time to move forward and post.

As said, I am in the very early stages of developing my real estate plan. My family and I currently live in a southern suburb of Dayton. One thing I know is that I am not looking to replace my current occupation. This intent of my investing is to develop a reasonable and stable cash flow scenario. Ultimately, my goal would be to buy and hold around 5 properties.

I have lived in the Dayton area for the last 25 years, so I am comfortable with the various parts of the the city. However, I would say I am more familiar with the suburban areas than downtown, but am very happy with the way they have developed that area. In order to get a higher level of stability, at least starting out, I am looking in the B or C area. I have been watching the Kettering area for a while and they have an abundance of 90-120k homes with rent being over 1k in general for a sfh. I also would be interested in areas near the base, but have quite a few that have come as far south as my neighborhood.

So my biggest question, for a guy that has very limited experience in the real estate, is where should I go from here? I want to be as versed as possible before walking into my first deal.

Does the Dayton area have local meets or networking events?

Do you attend open houses or anything to meet realtors?

Do you recommend reaching out to a CPA and/or lawyer before getting too deep?

I have a couple long-time friends that have discussed a potential partnership. How would go about developing a game plan with them?

Any insight will be greatly appreciated! Thanks