All Forum Posts by: John Clark

What are some questions that you can ask to each of the required team members(PM, Agent, etc. ) to ensure that goals align and they are best fit. 

Good evening and happy new year,

I need input on something that seems too good to be true. 

I just got off the phone today with an investor-friendly real estate agent in another state (not NYS) who has a whole team behind her and has made it seem as if real estate investing is a much simpler process. I am a beginner investor and I have discussed my investing goals with this agent. I wanted your typical 3 bedroom house (not necessarily 2 bath) which cash flows. She goes on to say that for her beginner investors, she doesn't let them buy over $100k total (including purchase and rehab), she already has a tenant pending for a particular property she currently wants to sell, already has a good relationships with a lender, and doesn't let rehab go over 2.5 weeks. 

In terms of property management, she mentioned that she has her own property management company. She is planning on renting out to section 8 and has pacified my worries about section 8 tenants. She just seems to be well versed with dealing with section 8 tenants, which is huge in this area of the United States.

She has already sent me the address of the potential investment property. It is not on your typical zillow/redfin/trulia site as she said it is directly from the seller. 

I met this real estate agent on facebook, seems very active within the real estate community in that particular area based on the posts she's engaged with. 

The only red flag that stood out is that she strongly discourages flying out to the location and scoping out the property as she said it could get expensive and we could instead use that for a downpayment. 

I really would like to invest and just buy my first property already. I just keep hearing over and over again to just take action and course correct from there. 

I would like to ask the advice of the community - can I get some viewpoints on how I could double check this lady's work? Maybe I'm already answering my own questions - would it be rude to ask for references from other investors she's worked with? how can I do this without sounding like I don't trust her? Is it imperative that I actually go see the property before I close on it? What else am I missing?

How do you deal with doubt? I also don't want to show any type of distrust towards her as I feel that she is a valuable asset (if she is what she says she is). 

I'm really glad that I am taking my first steps, that I spoke with a real estate agent, and that I have the BiggerPockets community to lean on for support.

Thank you,

Richard

There's a house I'm considering buying with a business partner as an investment rental. It would rent for what I assume $2,500 with one renter or $3,100 if I did rent by the room. It is an old house but has been completely gutted and rennovated in a Midwest state with a flatline population growth. It's near where I live though. Based on its price and rental income do you think it is worth it? It is a considerably good price considering the area, I'm just not sure on whether the rental income is worth paying for.

Apart from about $10,000 it is fully rennovated and ready to be rented out within 2-3 months.

Thanks for any advice!

Hi first time landlord to a duplex in new city. Wanted to know if landscaping is a tax deductable expense in general and if it differs when one unit is owner occupied. Thanks !

I own a rental portfolio that generates around $1,600 in monthly cash flow and has $400,000 in equity. I want to refi and pull some of that equity out ($200-$250k) so I can keep growing my portfolio but I'm not sure how to approach it as it would obliterate the cash flow I currently have, and in the current market I won't be able to make up for it with additional properties as they would also have minimal cash flow. I'm more concerned about appreciation and equity so I'm willing to trade the cash flow for it, but I don't want to be in a situation where I'm barely breaking even and the stress that comes with it.

Looking for ideas how I can tap into that equity to grow my portfolio but still getting some kind of cash flow to be able to make the monthly payments

Can someone explain something about the buy, borrow, die concept of avoiding income taxes?  I understand that you don't pay taxes on borrowed money.   What do you do with the profits from the company to avoid income taxes.

At Little Bear Creek Properties, we specialize in developing large tracts of land into individual lots for home builders in the Raleigh, NC area. However, we often face challenges in sourcing suitable properties through traditional MLS listings. As a result, we are seeking alternative methods for acquiring off-market properties.

While we have developed a robust system for identifying and pre-qualifying potential land parcels, one of the major hurdles we face is reaching the property owners. Our current approach involves identifying possible contact information for the listed owners and calling multiple numbers, but this process is time-consuming and yields limited results. Even when we manage to reach a working voicemail, owners often assume we are just another "we buy land" service offering far below market value.

Given these challenges, we are eager to learn the most effective strategies for locating potential sellers and establishing a professional, trustworthy connection that encourages serious consideration of our offers.

Does anyone have a good lease clause to outline responsibilities and expectations during mandatory evacuations? Evacuations due to wildfires are not uncommon in our area of California. Are the renters or the landlord expected to cover rent during the evacuation? My lease requires renter's insurance which should cover loss of use if the unit becomes damaged/uninhabitable, but I don't think renters insurance covers costs of living expenses incurred during just an evacuation. Any wisdom to share here?

Thank you!

Hi team, 

I just had a call with a sales agent to sign up for  the Boots on the Ground program. It is a program that they do everything for you from finding the property, rehabing it, renting it or selling it in Philadelphia. It is a done for you kind of program. I am wondering if anyone has any experience with this program that could share their thoughts. It sounds like a good opportunity and I want to pull the trigger but I wanted to get some reviews since the program is a high ticket of $15K I couldn't find much online about this program or Brian Grimes. 

Thank you so much!