All Forum Posts by: Jake S.

@Steve Burrell That all sounds good then. Just analyze it as much as you can and if it makes sense, go for it!!

Congrats Shannon! Best of luck!

@Trent Strang That is great to hear!! Props for taking action and getting your first deal done!

Are standard rents in the area $2k for that? (saying he left)

How are you planning to acquire it, with a loan or with cash?

I think I would try to get it for about 70-80% ARV, so you can then go and refinance, pull out your capital and make some instant equity.

Either way, youd be helping a guy out of a desperate situation, and typically, when buying homes in poor condition, Id want a bit more wiggle room in case something big pops up or in case you need to do some reno's after he is out.

Hey Steven! Welcome to BP!!

Honestly, just dive into all the awesome knowledge and resources available on BP, learn all you can and take ACTION! Don't sit on the sidelines like oh so many people do!!

Wish you luck :D

Hey Ryan!

You could still do this, you just either need to get other investors to fund it, possibly get a Line of Credit to cover it, or see if the owner would be willing to do a Owner Finance deal

Say in the note that you noticed the house was sitting vacant and how you'd love to take that burden off of them and either cash them out of it, or be able to provide longer term passive income to them through owner financing

Hey Chelsie! Have you consulted with a good agent in the area about it? Maybe even a property manager?

Hey Ralston!

Are you planning to House Hack with this duplex? Or why is the down payment only 10%?

I would also consult with a local property manager about rents and their rates as well. Property taxes are pretty low too (which is great)!

Hey Marc!

What are your initial goals?!

Hey Trent! Welcome to BP

How has your house hack been going so far?!