All Forum Posts by: Jeff Schemmel

@Ryan Bratsch @Adam Widder's recommendation for @Tim Swierczek is solid!  he's excellent and I'm certain he's got some good investment advice for you as well.  Have you done a deal yourself before?

@Angela Aybar just calculate your ROE and have a good think about your 5 year goals and decide from there :)

@Adam Widder thoughts on this?

NEEDS to wholesale?  I would like to understand that a bit more.  Homes are flying off the shelf, why would it be in his best interest to wholesale?  Sure, move back and take care of his dad, but even if it takes a couple weeks to sell can't other arrangements be made to help him get the most for his house rather than tossing it through a middle-man?

i noticed that one.  it's a rare find in that area.  I doubt it will look good on paper as-is, most deals do not.  you'll need to play the long game on it.

@John Vang sounds good.  i sent you a direct message.

Hi @John Vang, you're exactly where you should be!  I also live and house-hack a duplex with my wife in Saint Paul, I'd be happy to chat and share my experiences and provide advice/recommendations.  There are lots of great meetups on the facebook investor groups and meetups websites.  Happy to share a few.

@Frank A Castro sounds like he's more worried about himself than you, which is a breach of the duty of loyalty and obedience he owes you as someone who represents your best interests.  Maybe he's forgotten that part, but It's not necessarily your duty to remind him of that.  Aligning on offer price isn't an argument or a debate, it's your choice as a buyer.  It's very realistic to undercut list price, so long as data is used to make that decision, including days on market; I saw a lot of over-listing in the fall/early winter as a result of a market shift here in MSP.  Some sellers are also just not motivated, and you would have better luck banging your head against a wall (that is something your agent should be explaining)  but it shouldn't deter them from writing an offer.  You literally have nothing to lose so long as you actually want the house.  Having been on both sides of lowball offers, I can admit that it's a little uncomfortable right away the first few times.  The thing is, though, when you nail an excellent deal for a client and pay for yourself multiple times over, it's really an exciting feeling.  When I decide to partner with someone to buy, I get a feel for what they are looking for upfront.  If I'm not comfortable or not interested in operating the way the client wants me to, I just never sign the rep agreement; that's as difficult as the choice has to be.

Hey @Davey McLaughlin, welcome!  You're exactly where you should be.  Check out some local meetups.  You can find them on meetups.com, local investor facebook groups, and here on the forums you can network like mad.  House hacking is really a smart way to start, it's the way I started and I will continue to do it a few more times again.  The best thing you could do right now is network as much as possible.  Meet realtors, lenders, contractors, and people who also invest to learn the market, strategies, and dos/don'ts from those with lots of experience.  I'm about 7 years into house hacking myself, and I take it a little slower than some, but that's the beautiful thing about house hacking.  you can go at the pace you set, and you can be as aggressive or comfortable as you'd like.  happy to share my story and answer any questions you might have.