All Forum Posts by: Drew Steusloff

Sounds simple enough then, would this just be a standard purchase and sale agreement? 

@Brendon Kerrigan This is something I continue to grapple with myself as a new investor. I currently own one property that I am House hacking in West Atlanta. This has been something of rapidly gentrifying area which has allowed me to capture 100k in equity in less than a year (likely aided by the fact that I bought below market) That being said what started as property that did a little better than break even is now Cash flowing $500 a month after all expenses. 

To answer your question, I feel that Urban properties have a more consistent rental demand due to the higher cost to purchase and the desirability of being close to the city. However, I would not recommend buying something that didn't at least have some cashflow on the table. I think a good strategy is to diversify with a combination of Suburban Cashflow properties with a few city properties that have high potential for appreciation, equity and rent increase.

Hi BP Community,

Lately, I have listened to a few podcasts and read about various financing strategies. One that continues to be of interest to me is seller financing. I was curious where others have obtained contracts for this type of deal structure as well as where I could find more information about the process. I feel like this strategy has the potential to work really well for assisting current landlords who are struggling with the Covid induced tenant favoring policies, but do not want to give up a monthly income stream. Would love to hear others feedback on this

Thanks,

Hi Everyone,

With the prices being so high in the current market, a thought I keep returning to is the possibility of investing in some lot and new build deals. Is there a good resource, (books, podcasts, individuals) to learn more about this type of strategy? In my particular market there are numerous lots being listed for sale with little activity. Additionally, our city has changed the zoning code to allow small multifamily properties in areas that were once strictly single family zoning. This may be an opportunity to build high quality fourplexes in areas that are scarce in units. I would love to hear everyone's feedback and experience.

Thanks, 

Hi Scott,

Thanks for the feedback, I would love to hear more about how it works and if you have been able to acquire any properties through it.

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Thank you everyone for the excellent feedback. This is great information to get started with.

Hi All,

I recently met a fellow investor who shared an application they were using to find off market deals called prop stream. Essentially this app assists in generating lead lists and allows users to send post cards to properties of interest automatically. Has anybody here had success using this. The app is a little pricey at $120 per month so wanted to hear form others before purchasing.

Thanks,

Hi Everyone,

As we move towards the end of the year, one of my goals for 2022 is to begin looking for potential properties in new markets. Currently I am based in Atlanta which has seen a dramatic rise in prices in the past year and one of the highest inflation rates in the country of 7.9%! That being said I was hoping the community would be able to give me insight into investing in new markets. Right now my research has been anecdotal, based on word of mouth and simple internet searches for areas with growing populations. Is there a more scientific approach I can take? What data points should be looking at to determine if an area is a good fit. I know the typical of school ratings, population growth, income, and crime, but is is there anything else that will give me a better understanding of a particular market? Also what are some reliable sources for gathering data. Appreciate any input here.

Thanks, 

Good Advice, Its definitely something I have considered. Currently, I work as an owners rep for various hotel development groups and have a Masters in Architecture. While both of these have given me a strong understanding of managing projects and design, I feel there is gap in my technical knowledge. One of my thoughts is offering to assist local rehabbers as a PM as a way to observe and learn. 

Hi Everyone,

As I move forward on my investment journey, I'm always looking for new ways to expand my knowledge. Right now I have one buy on hold property I purchased in October 2020 that I am currently House hacking . It is my goal to procure another property by the end of this year. Based on market conditions, I am planning to begin an off market direct mail campaign in the Fall focusing on distressed properties for potential BRRRR. That being said my construction knowledge is limited and I'm looking for a way to educate myself so in the mean time. Does anyone have any books or courses they would recommend to get a better understanding of construction mean and methods. As always I am sure experience is the best teacher, but I do not want to get into something without enough foundation to be successful. Let me know your thoughts?

Thanks,