All Forum Posts by: Gabriel Graumann

@Andrew Haney is your friend actively working with a broker to tour and find a new property? If not, I would be happy to meet with him. We live in East Mesa about 8 miles from Chandler and know the area well. Just need to learn what he's looking for, desired budget, "must haves" etc. Let me know

@Lionel Miller welcome to the BP community and the world of commercial real estate. For listings I work in the Seattle and Phoenix markets, but I assist buyers nationwide. Do you have your CCIM designation yet, or you took one of the numerous classes? The question I ask every client regardless price point is, "what does your investment need to do for you, and when does it need to do it by?" The answer to that should guide everything thereafter. Feel free to reach out directly to have a conversation if you'd like. Good luck!

@Anna Bee it's as @Brad Hammond stated, if you purchase it as a second home it removes the investment piece of the lending if that is the goal. However, the real question is what is the reasoning for purchasing another property? If the goal is to use it as a rental, it should be disclosed as such. If it's only for your personal use and possibly a home you'll move into long-term, you could transfer it to your personal residence once you move in and convert your current home into the rental. Just depends what you are trying to accomplish.

As @Char Tovar mentioned, joining a group that doesn't meet isn't helpful, especially when there are so many other places to connect and many without fees. Look for places that bring big value and REAL connection, meaning face-to-face meetings, groups, or at a minimum Zoom styled events that include group interaction, not just one person talking with everyone else muted. Obviously, BP has the events and often meet-ups are posted there. FB groups exist as you've already found. I'd recommend talking with 10-15 real estate brokers that personally invest and/or work with investors to see who they may recommend to you.

Greetings BP Members,

Specific question to any investors or brokers local to Glendale or Buckeye, AZ. There is a large master planned community named Verrado that seems to have a WIDE range of prices within a small area relative to other master planned communities. As an example, there are 3,500 sf homes on 3 opposing streets that range from $500K-$900K. I'm a broker in WA so I get the basics of home amenities, pool vs. no pool, but I'm really struggling to see how there can be a $400,000 difference in price on closed properties (not just active) within such a small area. All the homes share the same community amenities, so what's the difference from your perspective if you're in this market? Thanks in advance for sharing.

Hello BP Family,

If you are in the Treasure Valley Idaho market, and you birddog, wholesale or simply know of someone with acreage property open to a conversation about selling direct to a buyer, let's connect. Here's my basic criteria:

5-10 acres minimum, preferably with a house but not required; located in Boise, Meridian, Nampa, Eagle, Star, Middleton, Caldwell, or Kuna. Residential or commercial zoning.

What do you have, or do you know that I should know? NO LISTED PROPERTIES, I have MLS access and don't need to see the same ones twice, just talking about land owners that may need creative or very extended closing terms (as in multiple years, sale-leaseback, etc.).

@Simon Obas You need to be running your investments like a business, and a business would learn what is required in your area in terms of permits for work. Nearly all cities/counties require a permit for specialized work including electrical, plumbing, HVAC, roofing and other elements. Some areas want a permit for anything exceeding a certain dollar threshold. While it may be a "pain" to go through the paperwork and extra time, think of it in terms of liability. Say you remove a few walls, add the elements you referred to, and don't bother to pull permits and then an issue arises and/or some is harmed due to negligence. You can be held liable either way, but if you didn't pull permits when it's required you'll pay additional fees and penalties, and in many places they can shut down your project until you bring everything up to their standard. In this instance, most inspectors who come to sign off on elements of the job will overly critique you because they know you tried to do the work without them once, so they mike life even tougher on you.

Buyers WILL ask questions about the work. Any state with a seller disclosure form typically has a question(s) about improvements and whether permits were pulled (we do in WA). Unless you're truly doing a cosmetic only update (paint, flooring, trim, landscaping, etc.) don't take this short cut. Get permits, keep a good name, and remove the potential liability.

@Alex Omo More house than not come to market in fairly decent shape. Unless you're looking at new construction or a fully renovated house and paying full retail, every house will need some level of repair. It may not be $50K in renovation needs, but few things will be completely turn key. In a market like this one, there are far more buyers than sellers so seller don't have to do as much the house before bringing it to market, and they are still getting top dollar. I live on the east side of Mill Creek, so we're close and I'm looking in the same communities you are. Depending on your budget you may simply need to loo further out. I put one under contract in Smokey Point a couple weeks ago that I was going to wholesale, but the market is so crazy and other in the neighborhood are selling as is, so I may simply clean it up a little and bring it straight to market for resale.

@Alex Omo You could buy any single-family residence that has good "bones", hold it for 20 years, and you'll look like an investing genius. And I'm not joking. Pick any house in the greater Seattle metro, 3 bed/2 bath, 1,000+ sf, and look up the price of it in January 2001, and you'll find tens to hundreds of thousands in appreciation. You didn't need a great system, off-market steal, etc. You simply needed to buy it, sit on it, and not sell it and you would've done great. The same will be true over the next 20 year cycle, COVID or not.  

@Bryan Mitchell For all the reasons you mentioned. DON’T get the CCIM if: you only focus on flips and fixers, single-family rentals, just use real estate as your “side hustle”, or you think the designation will lead referrals and deals just falling in your lap since it’s tagged on your email signature. The course material is geared for 5+ unit MF, commercial buy/hold/sell analysis, market analytics and evaluation for leasing, and a little about raw land strategy. If you’re not actively working in this space, there wouldn’t be a big benefit to the material compared to other material you could find specific to what you are trying to accomplish in residential investing. It would be like getting an MBA with the intention of being an restaurant owner. Sure, you’ll learn high level strategies for selecting the right location for a restaurant, but nothing about running the business itself, so why do it.