All Forum Posts by: Faaiz Khan

hey Ryan thanks for the offer; I will PM you the details later today when I am in front of a computer. Appreciate you offering the help.

 Thanks Andrew. I am about to get started with that book. Onwards to find a seasoned investor to treat for lunch ;) 

@Andrew Syrios Thanks for in the input. Before asking for quotes from contractors, how do I determine what exact work needs to be done? Or if the quotes cover most of the work to be done? I understand there can always be surprises with mould, pipes, leaks, etc when you dig deeper but a fair assessment is to be done by myself or a contractor? Can they look at it before I buy it or after I get into the deal?

I did look at some of the online websites and asked local agents about recent listings that sold for similar SQ FT, beds, etc. 

Hey, I am brand new in RE but very excited and anxious to get started. Though I am relatively new to St Louis (just 2 years), I have driven around for hours, looked at properties, spoken to agents / developers, etc. 

I feel really good about a certain house that needs a lot of rehab work. It seems properties sold in last 6 months of similar nature in local and similar areas are close to the asking price. All the comps in the area indicate a lot of room for a flip potential. It is also a very desirable area for living so buy and hold could be another option

My question is how does one verify the information and numbers? Am I being nervous because it's my first deal of the sort? How do I know I am doing the numbers right or look at what I am missing?

Info on deal I am looking at:

ZipCode: 63131
Single Family Home, 3 bed, 2 bath, Approx 1100 sq ft.
Price: $225k ( I believe price should be $180k)
Flip potential: $280k / $300k

@Account Closed - Gents there are many list management tools out there that you can explore; some of them are essentially free. These are basic CRM tools that allow you to upload lists (there might be a limit to how many records you can keep), then you can put a "status", "notes", "action" etc against all your list contacts. For eg. you can group your list by the zip code and mark them all by defeault as potential. Then once you have send a letter out to one zip code, you can make them as "1st letter send" - those who respond, you can individually make notes against and update their status to "potential" and so on. This will help minimize your management  for the lists and keep everything automatically organized.

I have worked with many small businesses and startups and I always suggest to them that organizing themselves at a small cost ($10 perhaps a month) is better than it costing you 5 hours of yours (how much do you value your time? $50/hr? thats $250!)  

Some tools I know of are Google contacts, Zoho CRM, Insightly, SmartSheets, etc.

Hey, my name is Faaiz and I have moved to US  from UK in 2014. I have a digital marketing / tech entrepreneurship background, and have had my successes in the tech space. I have however always been a creative person, and loved art, theatre and handiwork around the house.

While I still engage with startups and tech at various levels, I have found my curiosity building for property investing in USA. This whole thing started last year, when a long time friend and mentor asked me to help him with his 500 acre new development near Kansas City. At that time, I was looking to build a REIT to own a property portfolio for my family's future stability.

Long story short, I realized why pay millions of dollars buying properties when you can build your portfolio with conservative dollars. Hence I am here to find out more about how real estate investing works, how I can build a portfolio with little money down (dip my toes before diving in) and in the process, engage myself too.

I hope this website / forum / blog proves to be helpful in advancing my goals to that end.