All Forum Posts by: James Nix

Robert there is multiple things you can do 

1. Be fast. Real estate is a numbers games do if you put in the work and analyze most of the deals as soon as they get to you( guessing that you are signed up for automatic email alerts from an agent) and put in offers chances are you are going to get something under contract before the experienced investor who is out of cash at the moment. 

2. Drive for dollars. Get in the streets of the area you want to house hack in and look for distressed properties and mail them or even knock on the door and maybe if you work that funnel chances are you can come out with a good off market deal 

There is literally a number of things you can do you just gotta hustle and educate yourself. 

thanks @Gary Swank we actually don’t have any rei groups in Philly, at least to my knowledge so what I been doing is going to the tax auctions every month and networking with investors that way but one thing I would like to ask you tho is other then clearly seeing an area coming up how would I find out the areas that are due for upcoming retailzation? City planning or just asking around and seeing what different investors feel about specific areas? 

thanks @Alex Deacon I understand to look for low crime rate and supply and demand but why look for an average income? Shouldn’t I look for an location where the income is above average so the likely hood of me finding an quality tenant would be higher? Because they make more money and cant get knocked into financial trouble from one thing happening that an average income earner can’t handle 

yes @Matt Pastier I’m trying to buy with a duplex or triplex to house hack in. I just been analyzing deals right now at the point not really knowing what should I target outta the three factors so thank you for he advice it’s gonna be really helpful with trying to narrow things down 

thanks @Levi T.

Hey everyone, I know this question can be state or city specific but coming from someone who never did a deal before that is studying my market to find an edge I would like to know what has brought you guys or girls the most success with buying a rental property for the long term from a variable stand point like a location with either a good school nearby or a low crime area or a high population growth from millenials? Basically from the three options which would you look for first

Oh ok thanks @Yuriy Skripnichenko & @Michael Badin  I can just adjust the price I pay for the property from what the deposits from the tenant should be 

Hey Everyone I wanted to know after purchasing a property from someone with inherited tenants do the seller suppose to give over the security deposits of such tenants. Guessing that they are already on current leases with the seller. Also if they do and say that the seller is a slumlord and doesn't have the money in a account to give to you how do you go about that? 

Not familiar with all of them cuz I didn't use them but from what I know they are all owner occupant loans 

VA- veterans only loan usually no money down loan that are just for if you been or active in the service

USDA- another no money down loan which is only for rural areas I believe

FHA- 3.5% down loan

Welcome to the community Andrew. My suggestion is just go right to the podcast and start from 1 and work your way up. A tremendous amount of value in hearing the stories from all of the guest that you can get the motivation to pick right back up where you left off.