All Forum Posts by: Frank Geiger

If the deal doesn't work, don't buy it. People buy all kinds of bad deals in a hot market. Keep networking and analyzing maybe something will pop up. Can you find something on the outskirts that will be the next hot market? Might be time to start looking out of county/state.

Need more details. How big is the bathroom? Is there just one? Where are you from? What type of finishes? Are you doing the work or a contractor?

Hello all,

The military decided it was time to move again. I received El Paso, TX as my next duty station. I am pumped seeing as I have tried to get this my entire career!

I am looking to network and ask for recommendations of RE professionals in that area. Anything from property managers and agents to lenders would be really helpful. I am a seasoned investor with hopes to continue building my rental portfolio. I will be looking for a triplex/quadplex to owner occupy. I appreciate all the feedback!

@Drew Spencer Depends how the owner has it structured. Sometimes the landlord pays it if its not sub metered, sometimes the owner charges a fixed amount to the tenants, and sometimes it's sub metered to each tenant.

You can ask the owner for statements, call the water company, ask other landlords in your area with similar units, or talk to the tenants.

Super interested in note investing! Just haven't pulled the trigger yet

Each month you wait is an additional paycheck in your bank account you're missing out on. Go for cash flow and you can't go wrong. You could be waiting forever for the market to drop.

Bad deal. I wouldn't do it. Look at your cash on cash return. If you have 80k cash, find a better return on your money.

I don't understand your other questions. You put in the offer with your agent. They contact the Seller's Agent and then counter from your offer. If its low enough, they might not even respond. That is normal sometimes too.

Your statement “I haven't done much research on commercial real estate investing“ worries me. Grab someone who has done this before and have them partner on your deal. I would really nail down those expenses and not just use the 50% rule. The quick sale could be the result of a major repair item; so that’s something to look out for

Hit the nail on the head. 90% are just clueless. I can’t stand the unethical business practices and words they  vomit out of their mouth to get you to purchase a property

Systems are what make any successful business run efficiently.

Here are some examples of systems. You have 10 agents and 5 wholesalers dropping potential properties in your inbox everyday. You text your contractors to meet you at a property and submit a bid for your review. The contractors know how to rehab your properties because you do they same finishes on every rental. You have your listing agent prescreen flip properties and send you comps on your deals. In your PM company, your assistant automatically knows how to onboard and market a property. I could go on and on but that's the basics. 

Think of it like having policies or procedures in place to help facilitate an end goal.