All Forum Posts by: Dhaval Sheth

@Rahim Bey Call the number on the signs that you see by the side of the road that says "We buy houses" or something similar. Tell them that you are actually interested in buying and not selling, and get on their buyers list. Lately I am getting some good leads that way. Good luck!

Hi, I am in the middle of negotiation of buying my first duplex property for BRRRR deal. It is a semi-detached duplex and the layout of both units are the same. After rehab, both units will look exactly the same. The issue I am having is I can't find any comps in the area for similar duplex property but can find a lot of 1-unit semi-detached comps that are similar to each unit. My plan is to refinance the property as a duplex to save the closing cost. Should I be safe to assume that the ARV of duplex will be double the comps of a single semi-detached property? How would the appraiser run the comps if he/she can't find a duplex at that time? This will be my first duplex property so I am unsure about this.

I have 3 active rentals right now so still very low key but I am love using Avail software to manage my rentals just because of its simplicity. It has all the basic things you need to develop a system of your rental portfolio. The best part is it is free to use if you are okay with the rent hitting your bank account 7 days after the tenant pays. If you want the deposit within 1-2 business days, you can choose the paid version which costs $5/month per property. 

Hi. I am from Harrisburg PA area. I just had an appraisal done on my first BRRRR. My property has 3 bed/1 bath. One of the comp had 2 bed/2 bath but structure was same as mine. The appraisal adjusted for $2000 deduction. I think he reduced $5k for 1 extra bath and added $3k for 1 extra bedroom. Also he deducted $4k for 2 car detached garage in one of the comps since my property has on street parking. Hope that helps.

A follow up question on this discussion. After pre-screening and house tour, I have 3 potential tenants ready for filling out the application, paying application fee and credit background check. From pre-screening, I don't foresee any surprises on the reports (🤞). Do I pull credit on all 3 at the same time since most probably two of them will be paying for it without being accepted? 

@Joshua W. By checking material I meant paying upon the delivery at the house.

Hi fellow investors, I am in the knowledge-gathering zone and when it comes to the topic of how to pay to the contractors, I have read people saying that they only pay for the material cost upfront. But when exactly is that? Is it before the contractor purchases the material or is it when the material reaches the project site? And generally, will the contractor be okay with the arrangement of buying the material out of their own pocket if you say you will only pay when I see the material and the receipts?

Thank you. 

"What is the One thing that you can do right now, such that by doing it everything else would be easier or unnecessary?" - Gary Keller (The ONE Thing)

Just curious, when people say that they have $5k passive income from real estate for example, typically is this number just a pure cashflow after setting aside the reserves (vacancy, cap-ex, repairs) , or is it cashflow plus reserves? 

@Connie Chan @Rachel Luoto

I will second Connie's opinion. As long as there is nothing in the case that would suspect Fair housing law violation based on discriminatory actions, I wouldn't worry too much about it.