All Forum Posts by: Gaelan Evans

@Jay Hinrichs Im looking to House Hack (live in and rent) or try to purchase empty land for cheap and put a short term structure on it. And it may be a rookie question, but what is NOD and MSA?

Thanks guys! Caroline: My strategy was to be focused on the fact that I'm a local looking for a home. There is a LOT of animosity between the locals and people coming in from California to buy up all the real estate.

Dave: any thoughts on better wording for targeting distressed sellers?

I wrote this letter I'm looking to send it out. I'm curious what you guys think:

Hello!

My name is Gaelan and I moved from the midwest to ------------ a couple years ago to enjoy the mountain life. I’m reaching out because I’m wondering if you might be interested in selling your house.

Before going any further I want to point out:

I am NOT a realtor.

I am NOT a rich Californinan trying to buy their 4th house.

I am just a hard-working young man from Wisconsin trying to build a life for myself in -----------.

As I’m sure you are aware, the current housing situation is making it extremely difficult for normal, working class people to find a house. When I moved here it was reasonable, but because of the recent explosion in the market, I am forced to find more desperate ways of looking for a home.

My hope is that you are perhaps an overwhelmed landlord who might be looking to offload a headache.

Someone who is getting close to being in a bad financial situation because of Covid or the rising cost of living.

Someone who has lost all the equity in their home/is worried that it is in such poor condition that you won't be able to get any value out of it.

If so, I’ve been doing a lot of research and I think we can help each other out.

My goal is that by searching off-market, I will be able to find something within my price range and because the market is so high, you might be able to get more value for your home than you would normally.

If this sounds like something that you would be interested in, I would love to hear from you!

I am currently working two jobs, so if you can, feel free to shoot me a text or leave a voicemail with a good time to get back to you and I will as soon as possible.

I live in a small resort town with a massive income disparity. It has mostly been unknown but is now flooding with people with a ton of money buying houses. There are a bunch of really old, rundown houses tucked between brand new, super expensive ones. However this is driving up the prices of the rundown houses. Prices are soaring above $200,000 for 1/2/3 brm houses, but rent is consistently ~$500 a room (or just to expensive for locals to afford, which is who I would like to rent/sell to. We're all getting pushed out.) When I calculate it out, a lot of properties are really hard to make a good deal without really high rent (which the market can handle, but again, is hard on the locals). I would like to house hack or BRRR. Any advice good strategies for moving forward?