All Forum Posts by: Hakeem Valles

This event is for all types of real estate investors from beginner to expert looking to expand their network and knowledge on multi-family. My name is Hakeem Valles and I am a former 3 year NFL player and I'll be hosting the event. I just moved to St. Louis and I am looking to network with like-minded people! I'll be discussing the creative ways how I bought properties while in the NFL. There will also be time for "intentional networking" and "open networking" Hope you can make It!

I would take that property you have and buy a fourplex using your FHA loan which means you could go in at 3.5% down. Whatever is left over I would use for the single family's you wanted to buy ! Hope this helps

Marcus Millichap releases an amazing data report every year on different markets across the country on different data points such as job growth. Check it out !

@Justin Dahabsu awesome ! Good luck with that man ! I house-hacked my first property ! Definitely the best way to get started. Feel free to PM and with any questions you come across along the process. 

@Justin Dahabsu 

That’s awesome that you’ve decided to make a shift to start engaging with the BP community. Nothing else like it!

What facet of REI are you focusing on ? And in what market ?

@Alex Millerjust sent you a PM!

@Kristin Caras I feel you on that. It may also be beneficial to connect on a deeper level with investors on BP who are in the Watertown market to get some more sets of eyes on the property. 

Good luck ! 

@Luke M.thanks man I appreciate that !

I don’t think anyone can necessarily know the exact pitfalls, it’s just about reaching out to as many banks as possible. 

Getting pre-approved can be as simple as calling your realtor and see who they refer you too  usually that phone conversation is going over your credit history and income and they should be able to let you know the same day.

If you’re going in person,  it really helps if you have all of your numbers organized, clear and concise. As simple as using the BP rental calculator and getting the final PDF printed and laminated at your local staples. And present your deal to the banks. It’s something small but it HELPS. 

Kristin, your diligence is admirable. 

For the multi-unit, I would also gather other agents opinions in the area to see if the overall thesis on the area is a negative one. In my opinion, that might be a sweet niche of house-hacking a fourplex in a military town and have all of your tenants also be servicemen and women. ( I would have your husband see what the general consensus is on base before doing this). For the flip, I wouldn't go off of Zillow to determine the ARV's, I would just have a local agent print up comps of everything within a half-mile radius.

If you ultimately want multis in that area, and their aren’t any on the market, it’s going to take some HUSTLE. Whether you do driving for dollars then skip trace the owners. I know @Cornelius Garland has a fantastic and very affordable skiptracing service. Or go directly to the tax assessors office and have them filter out a list of multis in the area, then skiptrace the owners personal information to cold call or direct mail. 

It ultimately is going to come down to what your risk tolerance is and how much time you have to put in the work required. Hope this helps !