All Forum Posts by: Joseph Crunkilton

@Matthew Lopez Can you provide links to those reads? I'm interested in checking them out!

@Marcus Hill Welcome to BP!

Hope everyone is having a good weekend. 

I am closing on my first rental in the middle of this week. It's looking to cash flow fairly well for my first deal. I'd like to track the performance of the investment. What do you all use to track the numbers? Just an excel spreadsheet or are there programs for this? I'm thinking things like cash flow, maintenance and repairs, etc. 

I'm not a data person but it would be nice to be able to analyze performance especially as my portfolio grows. 

Thanks!

Raynaldo, 

I am closing on a property through them next week so I may be a bit biased. Living in a HCOL area, it has been tricky to find any rentals in the area that made sense. Also, the amount of cash I'd have to put up was intimidating for my first deal.  

I found Zach and Rent to Retirement and they helped me through the process. I wanted to find a safe property with good returns as I get my feet wet. That's exactly what I found. Zach is experienced and makes the process easy. 

Give him a call and see what they can do for you. 

All, 

I am looking at closing on my first rental property in the middle of next week. I am finishing up insurance and looking to open a specific checking account for the property. I was planning on just using my normal bank (Chase) since they handle my other funds. 

Do you recommend this or would you use a smaller bank? I'm curious if there's any benefits to the latter. I am planning on getting into some flips and multifamily in the future. Not sure if there's rewards or potential benefits to using a smaller bank. 

Thanks for the help everyone 

All, 

I'm looking into out of state turnkeys as a way to get started into rental properties. There seems to be no shortage of deals. I want to make sure the property I'm closing on cash flows and appreciates. 

What data do you use to determine the potential of the city I'm investing in. Population growth? New industries? Job growth? Etc. 

Thank you for the help!

All, 

I'm looking for advice on a possible career change that could give me real estate experience to start out. There is a position open for an acquisitions manager with a real estate investment company in my market. This company buys homes for cash and renovates the homes to sell. 

I've read the intro to REI book by Bigger Pockets and am currently working through J Scott's Book on Flipping Houses. Flipping is the niche I have decided to focus on currently. I have a bit of apprehension because I still feel like a complete novice. The fact that I will most likely have to risk all my money on my first flip scares me.

I currently have a lucrative and successful job in sales. My experience would translate well to this position and could provide me with experience in the process. This could provide me the confidence I need to go out on my own. The problem I'm having with this is the job security and financial benefits I'd be potentially giving up moving positions. 

Does anyone have any experience with this? Would an acquisitions role with a successful REI company provide me with a lot of experience?

Thanks Everyone!

Thanks Nels, 

That is helpful. I am planning to hire contractors to do the work. I am assuming this would need a developer's license correct? Is that a CCB license?

Morning All, 

I'm a new investor in Washington County, Oregon looking for some advise on my NMIS for my flipping business. I've just finished BP's intro to REI and have picked flipping for my first niche. I have a few steps listed below I've identified as my NMIS. I'm not sure which order they should be going in and am looking for a bit of insight. I'm putting them in the order I believe to be the best and would appreciate some feedback.

1. Read J Scott's Guide to Flipping Houses

2. Establish LLC for flipping business to save myself from personal financial liability or lawsuits

3. Network with Wholesalers and other investors for some insight locally 

4. Discuss financing with banks and hard money lenders

5. Meet with contractors who will be handling my rehab to have my ducks in a row

6. Find my first deal

Morning All!

I am a new investor and a new member to Bigger Pockets. Like many of you, the prospect of financial freedom and working for myself has brought me to BP. I currently reside in Washington County, OR and am looking to invest locally. Given this is a HCOl area, I see it being a bit more difficult than some other markets. 

From my research it looks like flips are a good bet for this area. Home prices are high but there are deals to be had. Houses run down in nice neighborhoods, people running into foreclosure, etc. My goal for the next couple years is to gain experience flipping and having my company running multiple deals per month. My funnel will allow me to pick the best deals and wholesale the other good ones to investors in my network. End game would be commercial properties such as large apartment buildings. 

I am currently almost finished with BP's intro to Real Estate Investing. Next I plan on digging through J Scott's Guide to Flipping Houses. I will not start a company until I feel comfortable taking on the risk. If there's any other recommendations you have please let me know. It will be greatly appreciated. 

I look forward to connecting with you all. 

- Joseph Crunkilton

All,

Right now there's a fully furnished, remodeled floating home in my area for a modest price (300k). New floats, new deck, and turnkey. I've been interested in short term rentals for a while and this looks like a unique property. I am in Portland OR and this is right on the water. I would want this managed by a Vacasa or equivalent to make this pretty hands off. It's been on the MLS for over a year so I might be able to get it significantly discounted.

Can someone point me in the direction of costs associated with these kind of homes? Is there any way to get Vacasa's going rates? I am intrigued with this property but I haven't done much homework on it. Currently halfway through Bigger Pocket's intro to real estate investing book. 

Thanks!