All Forum Posts by: James Miller

When you say multifamily are you meaning 2-4 units or bigger?

Everything on the mls in oak harbor is over priced right now.  Thats not to say there are not deals to be had.  A couple months ago a really nice duplex sold for 255k that should rent for 1150 per side.  I just got a list made that I plan on starting a direct mail campaign to soon.  So I'll keep you guys posted if I have any luck going off market.  

Welcome to the best real estate investing forum on the planet.  Check out the education tab they have a guide on screening tenants.  Brandon the vp of this forum just released some new books on investing with rental properties.  Listen to the podcasts they are amazing.  Brandon also does webinars once a week some times there related to rentals. 

This forum is AMAZING. All awesome points. Thank you. I am going to see if I can get some info from the broker that sold me multi family a few years ago. I just hope he doesn't steal my idea lol. And excellent point on using the mls. I guess I was thinking not using it would avoid another agent getting a piece of the pie. I kind of want to set it up so that I get a bird dog fee instead of a percentage. I know the VA freaks about anything slightly out of the ordinary though. I just keep getting messages on bigger pockets form people moving to my area looking for quality house hack opportunities. So I figure if I just find the property use the bigger pockets rental analyzer it will be win win for the buyer, the seller, and I get to put a few bucks in my pocket.

Defiantly screen them.  Check out the bigger pockets guide to screening tenants.  There has been lots of mention of software for assisting in book keeping for rentals.  You would have to scroll through the show notes I can't remember a specific episode.  

Sorry 2-4 units I know va won't loan on over 4. 

Hello bigger pockets Realtors.  

I think i have discovered a niche I would like to get involved with. There is a huge demand for multi families that cash flow in my area but most of the multis on the mls won't cashflow for what they are asking. I don't want to whole sale because most of the interested buyers/investors would be using VA loans. So I'm trying to figure out if it would be worth my time and money to get my liscese, send out yellow letters to motivated sellers and then turn around and sell them to pre approved buyers. Thus skipping the mls. Then just add my fee into the sale price? Not sure if this is legal or makes sense?

If you are out of the service and you have any amount of va disability I think even 0% works you get a huge break on your closing costs.  I think its a couple thousand dollars.  

Awesome that is the info I'm looking for. I'm stoked to be a guest in a couple months and get a property to rent out airbnb

Welcome to the forums.  Definitely check out the podcasts.  Learn some basics.  Check out the ultimate beginners guide under education if you haven't already.  Do you have any rehabbing experience?  Access to cash? If not I would start networking in your area.  Go to rea meetings.  Maybe see if you can find a contractor to shadow.  Just some thoughts for some one just getting started at your age.  I wish I would have started at your age.