All Forum Posts by: Dustin Verley

@Joe Ellis Makes much more sense now. Thank you for taking the time to clear that up. I'm like many here, I would give a deal like this strong consideration. Are you leveraging creative financing for this deal, or were you looking to go a conventional route? Please, keep us posted as I'd like to hear the follow-up to your first deal.

Good luck!

This is just my opinion and shouldn't be misconstrued as advice, necessarily.

Ultimately, as Harris said, the first deal is mainly about learning lesson(s) and building off of said lessons. With that said, the margins are quite small, however, I'm sure there is room for improvement and appreciation.

If you could, please, I'm not quite understanding the Management fee (I understand the 6% being on an annual basis of the $18.6k) - but then there's the $750 placement fee and 50% of the rent? So does this mean you're paying $750 for each tenant, plus 50% of their monthly rent? (Being as how it's a duplex, I'm going to assume a gross split of $775.00 per unit, which means the management company will want 50% of that, or $387.50, or $9.3k of your gross rent.)

Correct me if I'm mistaken here.

As for vTiger, I believe it’s free version is self-hosted, which means you need to have your own web hosting infrastructure and domain setup to take advantage of their open source option

Maybe reach out to a networking group such as FlipStarters... or check the meet up section of BP. There’s quite a few resources out there but you have to go and find them.

I always wondered how investors from NY invested in real estate. I always said if I could pick up a MFH property in Brooklyn or the Bronx I would be successful. As for Manhattan, I’m not even going to set my sight that high...yet! :)

I’m with Nadia...not know what the expenses are makes it difficult to determine if it’s a good buy or not. Only rational can calculate from your numbers is a GRM which comes out to about 6.94 I would need more info but the amount they’re asking, and the rents provided sound like slim margins.

141... ay yi yi! :) No wonder I haven't seen it (I avoid 141 at all costs with the bridge replacement, and now they're commencing road work down to one direction each way due to more construction)

Nice job @Jack Clough - rarely hear about the Newport, DE area as much as many do about Wilmington, Newark, Bear, and other surrounding areas. This goes to show the opportunities in even the most unknown (well, per se) areas.

Good information in this thread, I've always been to curious where the best areas of investing are in Wilmington, and have heard of the varying neighborhoods, but that only goes so far when you're not familiar with the scope of Wilmington, aside from Rodney Square and Little Italy. :P

Congratulations... I would also suggest, like a few already have, look into hard money and private money as well. Or get creative in terms of financing.