All Forum Posts by: Joseph Kelly

Greetings to BP,

I am planning on buying a four-plex in the next 6-9 months, living in one unit and renting the others out to start down the road towards financial independence. I haven't started actively hunting for deals yet, although I am communicating with my RE agent regarding multifamily properties in my county and the surrounding counties.

Location: Front Royal, VA, although I'm looking at the greater area as well; Financials: ~$11,000 available to invest; REI/tenant Experience = no hands-on experience, ongoing reading of BP books/forums/podcasts/blog posts, etc.

Top questions at the moment are:

1) What are the top considerations regarding house hacking, especially in an expensive market such as in/around NOVA, that a new investor such as myself probably won't have considered?

2) What constitutes a good buy-and-hold rental deal in an expensive market? If I'm buying for cashflow, does the upfront price of the property matter as much as it would (up to a point) if I were hunting for BRRRR deals or rehabs?

3) What are the top questions I should be asking as I begin to pursue my first deal?

Thanks in advance for any answers or insight that anyone has; I appreciate any and all information/comments/critiques. If I need to provide more details to solicit more exact answers, just let me know.

Joseph

@Nathan G. Thank you, definitely appreciated.

@Darius Ogloza Great info, thank you.

@Michelle Massaro Thanks, good points, much appreciated.

@Greg Dickerson Thank you, definitely helpful.

@Tom S. Thank you, very much appreciated.

@Kris H. Thank you, good points to consider.

@Kathy Henley Thank you, much appreciated.

Hello, I’m Joseph Kelly and am new to real estate investing. I’d like to get into rehabbing and am starting to scout out financing options. I have the opportunity to present to a potential equity partner and would like to know what should be included in the presentation?

The presentation question can apply to all types of presentations: what would you include in a presentation to any potential partner, or a presentation you are creating to present to anyone or any institution from which you are attempting to gain financing for a rehab?

Thank you for any suggestions or comments regarding the above, and let me know if anything requires clarification.

@Nathan G. Thanks for the information. However, my question still stands: despite the fact you wouldn’t waste a dime, I still need to have a presentation that you wouldn’t waste a dime on.

Given that, what would be included in a presentation to a potential partner? It sounds like you’re saying that bank financing/loans are the only way to get financing for one’s first deals, because no one else will trust you based on your lack of experience. Understood, but what goes into the presentation itself?

Further, my presentation question can apply to all presentations: what would you include in a presentation to any potential partner, or a presentation you are creating to present to anyone or any institution from which you are attempting to gain financing?