All Forum Posts by: Jason Small

HI @Monica Caliber -- key points to keep in mind:

1. Market Demand: Factors such as population growth, job opportunities, and overall economic stability.

2. Market Stability: Choose markets that have historically shown stability and consistent growth in property values. Look for areas with a low foreclosure rate and a solid rental market. Use crime maps to avoid high crime areas.

3. Accessibility: Since you will be working virtually, choose markets that offer ease of access. Areas with good transportation infrastructure.

4. Local Laws and Regulations: Familiarize yourself with the laws and regulations by understanding any licensing requirements, contract laws, zoning regulations, and any other legal considerations that may impact your wholesaling activities.

I would also look for places tied into public water/sewer to avoid septic tanks/issues.

I hope this all helps and if you ever want to chat - I'm part of a national network of investors and we pay $1k referral fees for wholesaler dead leads. Text is best - 917-509-3427

Thanks and good luck!

Ideally, I'd like someone who also has rentals (SFH/Multi) and works with investors on a regular basis. I've worked with the same agent since my first purchase and now he's changing careers. My target is 15 more properties by 2025. My approach has been a mixture of buy, rehab and rent along with one BRRRR with my own money down and leveraging conventional loans while self-managing the properties but using the same agent to secure tenants. I'm now expanding my approach to include property management support and also considering owner-occupied multi-family up to $500k depending on location. I work in corporate America so typically I'm relegated to weeknights but mostly weekends to view properties. I sometimes get slowed down with my day job but never lose sight of moving forward.

Ideally, I'd like someone who also has rentals (SFH/Multi) and works with investors on a regular basis. I've worked with the same agent since my first purchase and now he's changing careers. My target is 18 properties by 2025. My approach has been a mixture of buy, rehab and rent along with one BRRRR with my own money down and leveraging conventional loans while self-managing the properties but using the same agent to secure tenants. I'm now expanding my approach to include hard money, property management support and also considering owner-occupied multi-family up to $500k depending on location. I work in corporate America so typically I'm relegated to weeknights but mostly weekends to view properties. I sometimes get sidetracked with work but never lose sight of moving forward and my revised approach (hard money mixed w/property management) will help me scale more efficiently without getting caught in managing the properties. I'm looking for a friendly, experienced, efficient and motivated agent that is in it for the long term and would like to support me all the way to my target of 18.

Hey Dave, I started driving around looking at duplexes under construction and calling the builders. I've had mixed success in reaching them and I'm only really communicating consistently with one at this time.

I've been gathering lists of new construction builders in the Lehigh Valley but also looking for recos for any that have specifically done duplexes before. Grateful for any local input and thanks in advance everyone.

@John Warren Thanks, I'm not doing a good job of being clear -- apologies. I understand those items. But when calculating CoC return, would I include the taxes paid as part of my cash to close as 'cash out of pocket'?

@John Warren thanks for the thoughtful reply and I totally understand. But what is throwing me off is the amount of taxes required for escrow at certain times of year. Since I'm considering all cash out of pocket through the purchase, sometimes the escrow taxes are high because of the tax calendar. Sometimes they are low. And I don't include the rest of the year's mortgage/escrowed tax payments so it feels like I am misunderstanding something fundamental.

Does that makes sense?

Hi fellow REI's, I don't know why it seems difficult to find clarity on this question. But when calculating CoC return, would I include the taxes paid as part of my cash to close? If so, doesn't that skew the CoC calculation depending on the time of year I buy the property since buying it at certain parts of the year creates a larger payment to escrow the taxes? Thanks in advance for setting me straight here.

I've recently researched hard money lenders in Pennsylvania and now I'm looking at portfolio lenders in the Lehigh Valley. If anyone has recommendations, I'd welcome the input. Thanks in advance!