All Forum Posts by: Helene Goodworth

@Helene Goodworth

To expand your network, identify your areas of interest, highlight your construction skills' application to investment projects, actively participate in local and online groups, and seek mentorship and guidance from experienced investors. This will help you connect with the right experts.

Good luck!

Hey, I primarily work with investors on SFH / small multifamily homes. Im not sure exactly what to do but here is what I do: First I know my market really well which I think is the biggest factor in helping investors. Then I'll go video as many properties as they are interested in, send them comps for rental rates, ARV, and estimates for rehab. If they are new, I am happy to walk them through the process step by step. I also give them my recommendations on where the rental demand / rent rates are higher as well as where they can get the best bang for their buck.

After/during the transaction, I give them my contacts that they may need such as a cleaner, contractor, property management, etc. 

All this as well as keeping an eye out for off market properties and sending them over to the client even though we really wont get paid until they decide to sell it if you are still their realtor by then lol. 

Pretty much any way I can add value I will do it even if its a 50k house that will require that I put in hours and hours of work because investor clients are typically return customers. 

Hi All! 

I was so excited to attend the BPcon24 in Cancun this year. Unfortunately i have a family emergency so i am not unable to attend. Is there anyone who is in need of another room and ticket for the 3 night stay?

Thanks in advance!

Mark

@Helene Goodworth the only advice I'd give is that rents in a market as a whole are not usually the best way to approximate what your specific property would rent for. I really only try and use comps within a 0.25mi radius (0.5mi radius at max).

BPCON is booked and getting excited!! This will be my 3rd year. Curious when everyone is flying in?  It may be fun to organize a meetup before the madness ensues, ha. 

@Helene Goodworth your assumptions (vacancy, R&M, etc.) look correct. However, where you could get into trouble are your rents (not to say they're wrong, but if they are you could buy into a deal that does not pencil). If you're pulling rents from a service like Rentometer, they're historically very inaccurate.

In my experience, the best rents come from going onto Zillow, looking within the same neighborhood/subdivision (usually within 0.25mi of the subject property), and filtering specifically for properties that have rented in the last 3mo (with similar sqft). The differences in bed/bath counts actually do not matter that much, but typically sqft does.

If you are off by even $100/mo per unit rent-wise, this could turn an 8% CoC return into a 3% CoC return instantly - in which case you'd have been better off just putting your money in the S&P500 and not a rental property.