All Forum Posts by: Frank Hinck

@Robert Withers

I’ll DM you

@April L. Williams

Was going to mention OfferFast as well, download that for free to see what that’s like its only in AZ and some TX markets. I’d be worried about wannabes trying to assign your contract or contact the seller. Perhaps the Wholesaler pays a fee to list it, and then the site has a private messaging system so they can decide how much info to give out. There are Facebook groups out there as well.

@BJ Marshall

1 took a year after committing to do it, 2 took about another year. 3, then 4 the year after. After 4 getting my own loans got tougher, started partnering with others who took the loan and I did the work and were 50/50. 9 doors now, likely will refinance into a commercial loan and with the refi either big out the other few investors and just cruise... or will take the refi money and buy 4 more

@Shawn Alexander

Income approach is what commercial banks will want to see you have prepared. For interior apartments Reno’s we go $5/SF cosmetic, $10/Sf medium, $20/gutout. Or you can go $4/sf flooring, $1/sf paint, $5k bathroom, $10k kitchen, it all depends on the level of finishes too and if you’re doing labor or subbing it all out, or doing all 5 units at once or 1 at a time.

@Erwin Garcia

It's my why because REI is something I can buy under value, control the operations/tenants, improve below cost - cannot do those things in the stock market. No one selling Apple at $600 because it needs paint and carpet

@Sannibel Carter

Take a year, I know it seems long but trust us real estate and “deals” will still be there albeit anything you’re looking at now won’t. Take a year and 1- listen to a BP Show per day, 2-cut your living expenses as much as you can believe it or not you can find $1,500/month by reducing rent & car & cutting luxury expanses and in a year you will have $18,000 - this will suck but it’s an investment!! 3-Network! On BP forums, meetups, REIAs, coffees, find your local experienced operators/NOT paid gurus and see if you can help them find deals, drive for dollars, analyze deals, line up contractors - it’s your unpaid internship to soak up as much experience as you can handle - - best of luck!!

@Joe M.

A realtor might be able to do this as well but since she’s inheriting the building you won’t need a realtor. You will need a PM and they’re the best for this info. Listen to the BP Show with David Green as a guest (in the 230-260 range) on out of state investing. Talks about the PM/GC/Broker balance triangle.

@Joe M.

Find a local property manager who can tell her what the local rents are and how far under market they are now, what interior finishes other units have (a contractor to tell her what those improvements will cost), and what they would lease for after repair. Hopefully the PM can also forecast an ARV for the building.

@Alex Cipollone

There’s a FB group called Off Market Real Estate and I just saw 2 rockaway duplexes come on there if you’re interested

@Drew Whitehead

I think the biggest opportunity is in 30-100 house portfolios, local owners who've had them for 20 years and are near the end of depreciation. With a $3-5M loan you're perfectly positioned for that kind of purchase at 75% ARV. 30-100 is bigger than the average Joe can take down, and smaller than a Big Outfit wants to deal with. Property management will be very interested to do a good job and give you a lower mgmt fee. That's your niche.