All Forum Posts by: Gage Green

@Kyle Mccaw thank you for the response, so your saying I should be getting mailers made up AND calling these people after I find their numbers? 

Unfortunate circumstances has drained my bank account at this time, so I do not have the luxury of paying for things to be done for me including skip tracing and mailers being made up by a company. Would you recommend writing/typing your mailers yourself print them out put them in an envelop and mail them? Any specific type of paper/cards?

For those of you who go out driving around looking for properties and are creating lists for cold calls/mailers. Other than visuals what are some of your “criteria” how do you decide if its worth sending out a card or making a phone call to? I ask because this past weekend my wife and i found about 20 properties that from the outside looked like the could be quick flips or good rentals with some work put into them. And I’m not sure if I should be sending mailers to every single one or if i should be trying to weed out some of the properties before I send out/make mailers. Maybe I’m over thinking things but i am just trying to be as efficient as I can and make the best choices i possibly can. Thank you in advance for your time and input!

My question is what should be written in a mailer? Should it be typed or hand written? What’s the best info to add, should it be on a post card type product or in an envelope like a letter. I’d love to get the bigger pockets community’s opinions. My wife and I drive for dollars, each weekend looking for off market deals. And when we find some I tend to cold call but never get anywhere and I’d like to get something in their hands and in their face as well, as opposed to a missed call or a voicemail. 

Mind you my “we never get anywhere” comment is 2 cold calls and some impatience, but I’m eager and willing to spend a little money getting something directly to them. 

Thank you in advance for any info you provide to us!

This may not be the correct place to post this if not please let me know where you think I may get more feedback. 

Hey everyone! My wife and I will be attending BPCON and we just started our realestate ventures about 6-7ish weeks ago. Needless to say we have not done any deals, YET!, we know very little people, and we are looking to learn everything we can, make connections, and enjoy some time in NOLA. We unfortunately didn't get to book in time to be able to arrive any earlier than Sunday and we fly back on Wednesday. We are still trying to figure out the strategy that is going to set us up best for our goals in life but I'm thinking BRRRR or flips, or a mixture of both. Im very excited to learn meet and enjoy as much as I can!

Is there any bank suggestions/recommendations in the Wilmington area that are happy to do a HELOC. My main bank didn't use good comps in my area or any on my street including the one a few houses down that sold in march, and ended up denying my HELOC due to value, and wouldn't respond to my question on why they didn't use houses that compare to my house closer than what they used. I'm looking for a way to gain access to the equity in my home to help me get my first BRRRR going.

@Jeffrey Donis I will make sure to have a contractor walk the property with me, I have also opened that link and will start reading down those threads to see what/who I can find thank you for that. 

@Bruce Woodruff thank you I will check that website out and ill make sure to look for a GC with wisdom

@William Kwong based off what everyone says I will absolutely be looking to find local meet ups and become connected with people in my immediate area. If you wouldn’t mind sending me your rehab costs that would be awesome, I will send you a connection request. Your info is helpful and appreciated, thank you.

@Sean Sloop thank you for that idea, its not a bad one and one im willing to explore, a little cost up front as part of a small learning curve is ok with me and would be direct with a source to get an idea on how things are done

@David Robertson I will be reading/listening to that book. Thank you for the step by step, super helpful and I will be putting it into action tonight starting with the book, when I get home tonight I will open the spread sheets and check them out I appreciate you giving out your personal spreadsheet. 

@J Scott thank you for the link, if it is not the same book as above, I will more likely than not purchase it as well, in my opinion you can’t have enough knowledge or enough view points on how to do something, if all ways work people can combine different things from each persons to make their own lucrative way.

Thank you all for your time, and the info you gave me was very helpful and makes sense. I will dig deeper into everything tonight when I get home.

What is everyone doing to estimate rehab costs? I'm new, I'm learning and one thing I haven't really gotten a grasp on is how to estimate rehab costs. A highly important metric for doing the BRRRR method.

When doing the calculators for estimating cash flow, most properties I put in, after expenses including, pm10%/capex10%/repairs10%/vacancy8%, they normally cash flow anywhere between $100/mo - $300/mo. However that is with a 30-50k rehab with Houses normally 1500 sqft or less, and using the numbers from the rent estimator the BP provides. What Im stuck on is how to get a real ball park number on rehab costs. I don’t know much, I don’t know anything about rehabs and I know prices on materials are way up right now, and honestly I’m just tossing numbers out there. With that being said I’m not getting a real reading on what things cost or real cash flow numbers, in essence I’m just throwing out number “hoping it sticks”. But this is doing me a disservice by not being honest with myself. 

Can anyone suggest any reading or methods on estimating rehab costs please. I am open to any and all suggestions. Please and thank you for your time and info in advance!

Thank you for the information and the link I will be reading that shortly. Can you give me some more in-depth reason as why to stay away early on? I would assume the biggest reason is destruction or lack of care for the property, correct?

I’m just trying to understand as many aspects as I possibly can.

I have found a property that cash flows on paper, $220/mo after paying PM saving for repairs cap ex vacancy etc… rent would be $1000/mo

The problem I am having is its in a bad area and I'm working with limited funds so bad areas are all I'm able to invest in currently, until I can grow my savings and BRRRR a few houses that I can pull some extra cash off the back end with the refi.

My question is to those of you who invest in some bad areas how do you go about your vetting/screening process to make sure (to the best of your abilities) that you get a tenet worth having that isn’t going to destroy your investment or cause you to constantly have to repair. 

Also with this area I would assume that section8 is going to be where I get payment. So my second question is how does section 8 work as far the our side of things go and do they pay you what you want (within reason) or do they tell you what they are paying and that is it.

Is it worth it to invest in these areas? 

Please and thank you for any and all of your responses.