All Forum Posts by: Jaime Duron

Hey @DJ Brooks! Someone else had posted the same comment a long time ago, it would be worth checking it out to give you an idea.  https://www.biggerpockets.com/forums/311/topics/142304-subje...

You can also google, Subject to contract templates for your State and you'll find some generic templates to use. However, I would go through a RE Lawyer and see if you can get one from them. Obviously, it wouldn't be free, but at least you know the right verbiage will be used on the document. Hope it helps! 

Hi @Glory H! Welcome to BP, you're in the perfect platform to network with other investors. I always like to say, your network is your networth. I'd be happy to chat sometime to learn what type of investing you do or possibly see how we could help each other out. 

Hi @Shafi Noss! I don't have any real experience in Small Multi-family, but I'd like to connect with you as I'm learning how to underwrite deals through my mastermind group. 

Hey @Michael L.! I would also consider the purpose on how your going to use the funds for and if its a short or long term play. Just know if your planning on using your HELOC and depending on the lender. Theirs an initial withdraw rate and a standard rate everytime you use it. Hope it helps.

Hi @Mary Carmelo! The best place to meet local investors is in REI meet ups. You can typically find them on FB groups or Eventbrite. I would take it a step further if you can and join a Mastermind group, cost is fairly low, but you get so much knowledge and meet so many investors that are doing all sorts of deals. Remember, your network is your networth. Hope it helps!

Hey Andrew! I would talk to property managers or realtors in your area and ask them what neighborhoods or zip codes they would recommend. Ensure you have your buy box in place, bc you never know if they have any coming available or off market deals. I would also go on rentcast to see what the comps are in the area to get a projection of the rental market, but the property manager/realtors can give you that info. Hope that helps!

Hey Evan! Im not familiar with the Denver market, but I did do my first BRRRR out of state in which I wasn't familiar with. It was a big risk, because I didn't have my team in place, but was able to get a great deal that needed cosmetic updates, i.e. LVP floors, Exterior Paint, Interior Paint, updates to electrical, etc. The key is to get comps of the area that fit your criteria, but getting a property that doesn't need a full gut job. I would start with a light rehab and go from there. If you can get a property at 70% ARV minus what you project the rehab cost you should be in good shape and be able to meet the 1% rule. Hope it helps! Reach out if you have any questions.

@Austin Berlick I would get a little more feedback from the past tenants and ask for any recommendations on how you can improve or what they liked most about the place. Also, are you charging one flat rate to include utilities or charging rent plus splitting up utilities? Price point can be a factor, I would go in craiglist and see what others are charging in your area. Hope that helps! 

@Alicia Arizpe you wont know exactly unless you talk to the homeowner and see where they are or their pain point. My recommendation is get your list through Roddy's Foreclosure, its a month or annual subscription in which has a built in CRM. Pick your county and create a list that interest you. They've already did the hard part for you by taking the list from the courthouse and putting in a spreadsheet. Hope that helps! 

Hi Jo-Anne! Please feel free to reach out, I have contacts in the area or if you need any help with anything else.