All Forum Posts by: Account Closed

I want to get back into the property investment business. I used to buy and flip SFRs until the bust came in 2008! I lost all my properties. This time i want to invest in Multi family apartment rentals. The most important issue for me is cash flow from rentals.

Sorry to hear.. trying to understand.. are you able to shed any light on the nature of the loss? Were these SFRs that you fixed but held on to and were renting out for cash flow? Renters defaulted and consequently caused problems for you or something?

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Originally posted by @Erik Lindquist:

I am living in a market (Marin county cali) where everything is going for well over asking, some of them 200k over! I am a newbie and it does not make sense to even start here when everything is over priced. There are markets nearby that are much more affordable(within in a hr of driving) Any help or advice?

If sellers are gettings offers at $100 to $200K over what they initially requested and you are finding it difficult to get in the game locally, this is why some investors often have to look at and invest outside of their local market. There often may be a cost with waiting but constantly being outbidded. You also may have to look into other channels -- such as unlisted properties.

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Originally posted by @Kirk Austin:

Can anyone give me any current active and sold data for residential in the Stinnett/Borger area in north Texas. Thanks

Sounds like you need to talk to someone with access to the local MLS in your or the referenced area.

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Originally posted by @Rodney Marcantel:

@Account Closed yes, 20K - 70K depending on the classes and days you attend and parties, etc. I never attended cause I'm smarter than that. Although, they said they would work 3 deals (I assumed wholesale deals) with you to help with expenses.

lol.. if it is for wholesale deals, justifying the price tag may be harder. Depending on your market and the specifics of the wholesale deal, it may take quite a few deals to make the $70K and break even. Seems very high a price for a seminar.

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Originally posted by @Joab Eades:

First off I am a "NEWBIE" living in the greater Jacksonville, FL area. My experience in real estate has been build as a primary residence with majority of work being done by my wife and myself. I currently have several lots on Washington states Olympic peninsula that I am wanting to use to get started in fix and flips. So hoping to get some Ideas on how to use them as a means to get started.

What is the zoning for the vacant land? Any details or specifics either of the land and surroundings?

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Originally posted by @Alexander Merritt:

What is everyone's view on rentals in big cities vs out in the suburbs? Which would present more opportunites or would be easier to grow? What are the advantages/disadvantages of each.

Thanks in advance.

The concern here may be which area is likely to have a stronger demand for rental housing and where are you likely to experience a higher vacancy rate at? The available inventory of rental units in both areas, growth rate in rental and housing prices in the specific areas, are also factors to look into.

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Originally posted by @Rodney Marcantel:

Just got back from Dallas Tarek and Christina El Mossa's Flip Advantage training. Good training but the $20k to $70k cost for advanced training and prop stream software was too much to me. Thoughts anyone?

$20K to $70K for a 3 day real estate seminar?

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Originally posted by @David Wurzel:

@Rick H.

It has to do with the quality of the lead. Before loosing sleep about the style of a card be concerned about the owners level of motivation/interest to sell.

'Absentee owner' doesn't always imply motivated seller. The more sellers on whatever list you are using that have a pain to sell, the better the response is likely to be.

Many newbies waste a substantial amount of resources mass mailing unmotivated persons and have below par results.

It pays to focus rather on contacting as many motivated sellers as feasibly possible.

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You plan on wholesaling in Jacksonville?

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Originally posted by @Andrew Davis:

@Wayne Brooks thank you.

@Matt Faircloth the property is in Jacksonville, FL. Average cap rates between 8-9%. I'd give it a B: low crime, average schools, 75% home ownership.

That's really good to know about getting a renovation loan, and also about the hard money lenders, I will definitely keep that in mind. I really appreciate your input!

@Account Closed, good insights, thank you!

What happened? Did you purchase the property?

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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 380 times.

Post: I want to be averaging about $15k/month in rental income. Any suggestions?

Post: Over priced market

Post: Active and Sold data

Post: Back from Flip Advantage 3day training

Post: Newbie looking for ideas on dealing with vacant land

Post: Rentals - City vs Suburbs

Post: Back from Flip Advantage 3day training

Post: Direct Mail Postcard With A Definable Response Rate

Post: Wholesaling: a scary situation, and I could really use the experience of the BP members!

Post: This is a great deal!.... Right??