All Forum Posts by: Erik Harrison

The podcast is a great resource. BP has a beginner guide to everything. Go to BiggerPockets.com/courses for a free course. The books are great as well. I’m listening to them and taking notes as I go to capture resources they mention. Also from all I hear finding a group to participate in is one of the most valuable things you can do for your education. I’m actively seeking now and will probably end up starting my own. Let me know if I can help in any way. It’s also easy to get sidetracked with all the different books and sites. My strategy is to just pour over the BP books and get involved in the forums. I’m a little ADD so I have to try to stay focused. Good luck.

It doesn't look like anything has been set up yet. I would be happy to work on setting this up. Can everyone suggest a city and day of the week then we can narrow it down? Possibly somewhere in Oakland, San Leandro, or Hayward would be a good center point for most people? Thoughts? I can be available on Wednesday evenings or weekends. 

Thank you @John Leavelle

@Jared Lillard where are you finding your deals to analyze?

@John Leavelle that is great insight. I️ did connect with a broker yesterday who also does some stuff in Reno, Nv. She’s going to look for some potential deals in that area for me as well.  When you are looking for a deal where do you start with analyzing? I️ need a checklist or something to know where to look. You mentioned rentometer. What else do you look at? Schools, crime, vacancy, unemployment? Where do you look at all those data points?

@Brent Coombs 😂 your are probably right. I️ appreciate the breakdown I️ hadn’t thought of it that way but, it made me laugh to realize the dwelling is bringing down the value. Thanks for looking into it for me.

Good call @Jared Lillard. Have you done any deals yet?

Oh and she did say it is a desirable area so it could be a potential rental. 

Any thoughts on which would be more beneficial?

THank you @John Leavelle. Yeah I thought flip. I spoke with a realtor today about comps she said she could pull some. The lot is small and it may not have room for the proper septic system. I️ need to look into that before I do anything else. It does seem like a large project for my first one. I’ll see what she comes back with. 

Hello BP. I am brand new and have not done a deal yet. The extent of my experience is buying my primary residence which i sold back in August. I had a colleague offer me and my partner a deal in a very rural town, Janesville Ca. I was looking for a little help with this. I am hoping for some experienced eyes to look at the property and let me know what they think. It looks like a big job. 

Here is what I know:

It has a septic system (condition unknown)

It needs a new pump for the well

It needs a complete electrical and plumbing system (I am an electrician so I can do that) 

I assume a new heating and air system

If you look at the link seams like a total gut on the inside

It is currently 4+ hours from where I live. I would put up most of the money and my partner would handle a lot of the management. I would help of course. I have a construction background and would do some of the work myself but not a lot. I think we could get this property for 20-30K. Any tips about where to start would be great. I will look into finding an agent in the area to get some realistic comps but what else should I look at. How much rehab do you think it will take? Also If anyone has made a purchase in this area I'd love to hear about it and if you have any suggestions for agents or contractors. Here is the Zillow Link:

 https://www.zillow.com/homedetails/463-675-Main-St...

You're thoughts and experience are greatly appreciated.

Thank you.