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All Forum Posts by: Jay Drysdale

Jay Drysdale has started 4 posts and replied 5 times.

Originally posted by @Jesse Rivera:

What state are you in?

 Tennessee

Looking for cash out that doesn't stress over no w-2 income, any brokers you'd recommend?

I inherited a tenant with a lease that has a provision that if the property changes hands, the lease can be cancelled at any time with 30 days notice. It's not a typical eviction in the sense that rent is unpaid, the lease holder is an investor and the lease allows subletting, so they are profiting due to lower than median rent. Need a real estate attorney to prepare for possibility of the lease holder not relinquishing the property. They have been notified by email and certified mail and negotiations have been unproductive.

What's y'alls method for interviewing and making relationships with the various contractors? Just start making calls and seeing if they have availability first and then go from there? Obviously licensed is main thing, bonded even better, viewing their portfolio, asking if they specialize in rehabs etc. I don't think I'd want a one-4-all and would be more cost effective to have a tile guy, kitchen guy, floor guy etc. Just don't want to get killed with holding costs by buying an asset and then not having anyone to do the work.

I have 500k ready to deploy and I'm currently broadening my connections, communicating with RE agents, wholesalers, and have subscribed to MANY FB groups. I have read, listened, and studied and really need to jump in because I feel like I might be suffering some analysis paralysis. My biggest need is a trusted contractor to verify rehab costs and an agent that can determine fairly accurate ARV's but it's tough dealing with out of state professionals without being there. I guess my biggest question is "Next Step?" I've seen some deals that I think I could do well with, but failed to pull the trigger because I just don't know the rehab or ARV. I'm going to read the book on estimating rehab costs to help a little with that.

Any ideas or tips from your experiences?

I'm looking at BRRRR and flips based on the deal numbers.