All Forum Posts by: Jared Trindade

This ^

The vast majority of my investors meet their GC's at the property and walk it together. In most investor circumstances sellers are fully aware that the investor will likely want to view the property prior to making an offer. So you'll have showing options and vacant (typically on lockboxes) style of viewings on the majority of properties you want to check out. 

Depending on the avenue of how you fund, what type of agent you use, where you source the deal from may give you different access points. For example- if you buy from a wholesaler, and prior to making an offer on the property you ask the wholesaler if you can view it, a time is agreed upon to meet, you, your GC, and the wholesaler meet there (sometimes seller is present, sometimes not), at which point you walk the property and talk. Then run numbers, confirm with your GC on their bid, and where the math adds up- you make your appropriate offer based on what you did see. 

Depending on your contracts, you may or may not have a contracted due diligence period. A non-contracted due diligence period, does not mean you cannot do it- typically means you have a bit less time, and no right to back out of the contract if you don't do your own due diligence and find something during the closing process you don't like. Resulting in fees typically if someone were to do so.  If you have a contracted due diligence, then you carry it out then.

My advice, always ask if you can view the property in any capacity prior to submitting an offer.

May be controversial to some, but I know many investors I work with don't mention their GCs, they just show up with their GCs, and walk it together. It's almost the same as if your friend or family attended it with you in the eyes of a seller. 

I just wouldn't mention specific rehabs elements in front of your seller by any means, keep that conversation for afterwards when you and the GC can dig in. Prep your GC for that understanding as well. 

If someone frowns upon you wanting to make sure you are doing due diligence before submitting a fair offer, then they aren't trying to sell it.

Alternatively, you can watch shows like 'This Old House' and go walk your local Lowes, and Home Depot. You can get a pretty good idea of pricing for specific items. From there you walk a few properties with GCs get some quotes on what they charge to do XYZ. Now you can start estimating based off your own knowledge of what things may cost. If new roofs in your market can get put on Sub 1500 SQ ft houses for ~$11,000 after talking with GCs and learning prices, then you can go to a property with 1365 SQ ft, go "Needs a new roof, probably ~$10,000 with my guys." - I believe you understand exactly what I am getting at here. At the end of the day, a great team is super important, but understanding it yourself will always protect you more. So while outsourcing in the beginning is a must, I recommend deep diving into this personally, as it is one of the most important numbers you will determining for all deals. 

Always down to connect and chat more if you like. 

Hope this helps, and I wish you the best of luck in your investing!

Cheers!

 Having a good solid team in place is the fundamental need of anyone who investing out of state. Whether sight-unseen or not. 

I would always recommend having some sort of avenue to see the property, or have it seen in person by someone you can trust. 

OOS investors I work with, I will typically meet their GCs or PMs at the property and walk it together while doing a live video with my investor. That way all opinions are aired at once, the GC's getting his number, the PM is figuring out the neighborhood and renters in the area, and whether it'll be a good rental. For Flips, I typically meet GCs only out there, and do the same process. 

Build a team you can trust, maybe look in markets that you also have friends and/or family that you would trust to go be eyes and ears for you every once in awhile. You can also network with agents, other investors, and generally anyone you could build enough trust in to take their word on viewing properties for you. Just a method to get eyes down there.

Alternatively, I work with a plethora of In state and OOS investors who both buy sight-unseen; they typically have additional capital in reserves, and usually have a great relationship with whoever their agent is. 

Both strategies work, but like Nathan mentioned, you have to identify the additional risk you are exposed to, as well as your experience level and understanding. 

* No matter what you do, Build A Solid Team. *

Hope this helps, always looking to connect and chat further if you are interested,

Cheers!

Thank you for getting my attention here! I appreciate that, @Daniel O'Dowd, I live and work local in Fayetteville. I do a lot of market data posts, and work with many investors who do not live in the area. I would love to grab a chance to chat with you and see if I can provide value to you in any way or be of service in any capacity.

Here is a market data post regarding Fayetteville that I did recently. Hope this provides some value to you! https://www.biggerpockets.com/...

Cheers!

@Daniel O'Dowd

Hello Investors, who is looking for Quadplexes that are recently rehabbed in the Raleigh/Durham area?

Looking to network with investors who may be interested in something like this. 

Cheers!

 Good luck!!

 I would do some independent research on individual market areas that may meet the criteria of what you are looking to achieve. Once you have identified the potential market that may give you said return, then find people to build a team with and proceed with investing once you are 100% prepared to do so. 

Check out market data posts on places, for example I have done many on NC, and Fayetteville NC may fit your bill check out my post and see if there's any value there for you. https://www.biggerpockets.com/...

Ping ideas from BP people and then check out some of those markets. From there, network and build. 

If you'd ever like to connect and chat more about NC, let me know if I can be of service to you. 

Best of luck to you,

Cheers!

 Hey Connor, I would love to be that connection for you, that you for reaching out. I work exclusively with investors, and tons of MFH investors. I would love to grab a call, but more importantly I wish to prove that I have the knowledge you are looking for. Check out my post on Fayetteville Market data, if you like what you are reading, let's grab a call. 

https://www.biggerpockets.com/...

Cheers!

 Did you start using PMs from the beginning or did you phase into that as you scaled?

Hello all,

I 'd like to pool around BP to see what people are pulling the trigger on right now. MFHs, SFHs, or both? Why?

I know many people invest in variety of ways, that may include one or both, or gradually phasing into one over time. 

So let me propose a few questions:

If you are investing in MFH is it because of the cash flow and relative proximity of doors? Therefore easier management?

If you are investing in SFH is it because you are flipping, or BRRRRing out as fast as you can?

Are MFH often time requiring repairs, or are they relatively turnkey?

For SFH are you thinking about moving into MFH at some point?

MFH's did you start with SFH and shift strategies? Where did the mindset shift?

This is intended to be a discussion, I am not asking in regards to my personal investments at this time, just curious to know what everyone is doing and why. 

Cheers!