All Forum Posts by: Jonathan Greene

I haven't used REI Nation, but I have done due diligence with two turnkey companies that I am on the waiting list for properties that work for me. Rent for Retirement (@Zach Lemaster) specializes in new build surplus from major home builders, many in Texas. MidSouth HomeBuyers specializes in rehabs and a vertically integrated model in Memphis and Little Rock. Look them up and compare as you go.

It sounds like a headline similar to AirBnBust. It's just clickbait. There is no wave of foreclosures coming. How could there be when, since 2020, almost everyone has gotten unreal appreciation? There are people who overpaid in the last year, but they would only be in foreclosure problem if they lost income. The property values are still going up. I call fabrication as well.

There are a lot of options out there, but the rates are excruciating right now for new flippers. It's not a great time to do a first flip with high labor costs, high materials costs, high property costs, and high rates. The property should have more impact than credit for hard money, but if you have never used the company, you are probably looking at 14 pct and 2-3 points now.

 In the Classifieds on here.

I couldn't agree more. That's why it's so important not to be a secret agent. When they see you here and they've seen you other places, it adds a layer of trust. When you have that, you don't need a call-to-action.

HELOCs are fine, but keep in mind that you really only want to use 50 percent of less (each) of your available equity just so you aren't creating a problem that you can't solve later if the value of your personal residences fluctuates.

If you both have W2 jobs though, have you looked into getting qualified together and just getting a loan, 10 percent down each? That would be a separate mortgage and not what amounts to a second loan on your personal residence, which if you have spouses, they might not be that into.

You aren't networking with the right people if you aren't going to real estate investor meetups. That is the thing that will eventually get you over the hump, not talking to realtors who, for the most part, don't know anything about working with investors and have heard the "once I get this first property, I am going to keep going" dialogue a million times.

If you want to market yourself, the best thing to do is to walk a five-block radius that you really want to buy in. Mark every home that looks like it needs some work. Check those to see who lives the furthest away of the absentee owners and start there (or with the oldest people). Write as yourself, not a company, and tell them you are trying to buy your first property in your own backyard and would love to have a conversation whether they want to sell or not (they probably know someone else).

Why do you want to wholesale something that is on the MLS? It is now available to all end buyers on the MLS. All you are going to do is put a deposit on it, hold it, and then try to resell it into a much smaller network than it is on now.

I think your issue is (if I recall your other post) that you don't have any experience as a co-host but are trying to gain it by offering your help for free. If I am correct (sorry if I have that wrong), there isn't a big win in it for anyone, even an underperforming asset, to help someone get some experience on their listing.

It sounds like a great property overall. Are there more capital expenditures coming? You could hire property management and probably still do well although I am not sure of the options in that city.

- If I use a 1031 Exchange, does the next property also have to be a duplex? NO, investment property

- If I did buy a duplex here in CA could I live in one side while renting out the other? Yes

I am not sure about the other ones, but you do a 1031 you can't use some of the money for something else without getting taxed on it and possibly not all unless there is underage.