All Forum Posts by: Jamir Nicholson

Hello...newbie here....just wanted to know if you tried some of the podcast. BP Podcast 048: Duplex Investing, Finding Great Properties, and ... with Darren  Sager seemed to offer some great advice that might seem to help you  regarding upgrades that can increase value and more. I hope this helps and good luck on your rehabbing.

Welcome Aboard...hope you enjoy the vast amount of knowledge BP has to offer.

Welcome Aboard...you made the right choice by signing up...Good luck!

Welcome aboard!!!

NEW UPDATE***

The inspection went great...I just received a CL-100 that also returned good news... and the appraisal went way better that I thought it would. As far as the numbers...I did some research and found that I should ask my agent for a CMA (Comparative Market Analysis) to further help my analysis. I'm having trouble trying to find certain information these calculations require. I do know that this property fits well regarding the 1% rule but I don't want to count on the "pro forma" data that I have. Should I be looking for additional information, or will the CMA suffice?

What I know so far:

Type: Single family home

3 br/ 2ba

1235 sq. ft.- .34 acre lot

Purchase price: $105,000

*A similar home two doors down is renting for $1,200/ mo.

Many thanks to Vincent, Justin, and Clinton for their support.

P.s. and anyone else who might be able to add anything helpful.

Missed it again....I am determined to make at least one...blame it on the JOB.

Hey guys sorry for the late responses but I work full time and I've been very busy lately. To clear some things up about the property...I am purchasing a home that will currently serve as my primary residence. My plan is to move on to a new property in the future and use this one as a rental...I tried to house hack but in my area it's kinda tough so I chose a different route. Many thanks to you guys for the support, and I will put up the numbers asap. I also have the inspection today so wish me luck

 Sorry so late...thanks Kyle

 I'm still new to this Vincent so hopefully you can walk me through gow to list numbers... the price of the home is 105,000 I have not gotten an inspection so I don't know if it will change...seller will cover 3500 in closing though...sorry for the noobness... am I missing anything?

OK....so it's been a while BP...but here's the update...

Mistake#1: Going to open house...falling in love with a property (due to anxiousness).

Mistake#2: Starting the purchase process without consulting a buyers agent.

(Side Note)

Achievement#1: Discovered I qualify for financing after a long battle with my credit score)

Mistake#3: Trusting the seller who is also an agent to be honest and fair...(will explain more later)

Achievement#2: Gaining experience and getting out of what could have been a total disaster

Achievement#3: Finding a buyers agent that could potentially be a great addition to my team(Chapter 4 of the Ultimate Beginners Guide)

Achievement#4: Finding a better property in a better neighborhood that can yield a greater return

Still in the contract phase, but wish me luck on the upcoming inspection