All Forum Posts by: Matt Cramer

Local REI group.

Bigger pockets.

Look for cash for houses ads and signs.

Go to a local sheriff sale and when its over ask some of the people who are there (preferably the ones bidding) if they properties for flips, buy and hold etc. and then get their info to be on your list. 

My favorite way. Find a deal get it locked up and advertise it, the buyers will come to you when you have the deal. 

The duplex style seems preferably to me, that's just my opinion. Stay away from Zillow zestimates they have been so grossly inaccurate in many cases. Do your numbers and figure out what you need to purchase a property for in order to match those numbers. Then look for properties that are near that price or maybe already at that price. Do your numbers first then find houses that fit that criteria. Don't look for a house first and then try to make it fit the numbers. It's easy to let emotions dictate what you're willing to pay but if it's a rental it's a rental and needs to be looked at as an investment that either works or doesn't. 

Oh ya and see if she knows how much she wants to sell the house for. :D

I would call!

Mention the neighbors who gave you the number. Confirm that she is actually interested in selling the house. Ask "when you sell this, where are you going to move next?" repeat that and affirm it, then establish when she would like to do that. Ask a few questions about the house. When you feel comfortable with the conversation ask if you can come by and see the house and talk more with her. 

I believe their are a few ways to handle that. The seller should somehow give you a credit for the security deposit though. You should ask for all the current documents he has on the tenant before writing the offer or make sure the offer is contingent on you reviewing and being satisfied with those documents. I believe on a duplex I just sold the tenants security deposit was transferred to the new buyer and they had to setup an account for it. 

I'm talking net cashflow before appreciation in a $ amount not %. @Chris Simmons

Ie: purchasing a property for $45k renting for $825 a month after all expenses netting $125 or whatever for cashflow? I think that answers your question.

@Steve Olafson But what do you have into that set of properties (I'm assuming it's more than just one sfr :D ) to see that type of return and how long did it take you to get to that point. Did you start out only seeing 30k a year and over time you've paid them down to realize more? 

Awesome! @Alex Brookbank

 Trying to figure out what most people are achieving while I write out my plan for acquiring rental properties. Clearly I'll will have my own numbers on each individual property I acquire however I'd like to see real world examples of what people are achieving. 

What are you seeing as CASHFLOW on your properties and what was the purchase price of that or those rentals?

I'm talking about cashflow after all expenses. $100 per door? $1000 per door? What are you seeing in the different price ranges?

Congrats!

So cool to hear how quick you did it too!