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All Forum Posts by: Jourdan Mercer

Jourdan Mercer has started 11 posts and replied 40 times.

Post: Best places to find off market deals?

Jourdan MercerPosted
  • Posts 40
  • Votes 18
Quote from @Lucia Rushton:

@Jourdan Mercer what size deal ? What capital do you have to contribute ? I will say - going off market as a newbie carry’s high risk, in my opinion. Best wishes

Upto $500,000 size wise and I have about $30,000 to bring to the table or use for reserves.

Post: Best places to find off market deals?

Jourdan MercerPosted
  • Posts 40
  • Votes 18
Quote from @Brian J Allen:

@Jourdan Mercer if you are looking for off market deals in Worcester, They are mostly with the agents. I have buyers who are searching for bigger properties and when they find one they have to unload smaller stuff right away. There is a constant stream of off market stuff that is just about to be sold. Additionally, the way the market is now, agents reach out prior to listing properties on the MLS. They would rather have a guaranteed sale than put things on the MLS and let them sit, even if they get less money. This allows you to negotiate on price, terms and timing which are very hard to do with an MLS property. Find yourself a good multifamily agent who does 10 or more multis a year and they will have a constant deal flow. We typically know of 10-20 off market properties at any given time that can be sold. If you like one, then they will agree and go shopping for something bigger. When you look at the MLS you will often see properties that are there, priced appropriately that don't sell, or drop in price. This is often because they are looking to 1031 exchange these properties so they want the best buyer at the best time. Best of luck with your search!


 That is very helpful.  Thank you.  Do you know of any agents who would be interested in adding a newbie investor to their call list?

Post: Best places to find off market deals?

Jourdan MercerPosted
  • Posts 40
  • Votes 18
Quote from @Nicholas L.:

@Jourdan Mercer something like Propstream or Invelo.  They are databases of properties.  You could pick some kind of list - all 4 bedroom houses in these 3 zip codes that the software thinks are vacant - and send them a postcard.  The issue I have found though is there is a lot of saturation of common, easy to pull lists like that.


 I can't figure out how to make invelo work to save myself.  I just signed up for bigger pockets pro this week.  Is invelo a different subscription that I have to sign up for in addition to bigger pockets?  

@Andrew Postell


Thank you very much.  That makes sense.

How do you structure an offer to a seller for owner financing?  How do you ameturize the loan and payment and balloon payments?  I've seen some properties I would like to make an offer with seller financing but I don't know where to start and how to structure it.  Any suggestions would be greatly appreciated.  For easy numbers and an ex.  how would you structure an offer for a property asking $500,000 that you want to offer a 15 yr seller finance on?  how would you run the ameturizion and figure out the monthly payment and any suggestions on balloon payments?

Post: Best places to find off market deals?

Jourdan MercerPosted
  • Posts 40
  • Votes 18

That's probably the most straight forward answer i've gotten so far.  Thank you for that.

I have actually joined a local rei group.  I will try to network with some of the wholesalers in the group.  

What is launching a campaign?  What kind of subscription service?

How do you guys apply for construction loans on BRRRR properties if you're limited on funds?

I have about $30,000 for reserves and can only get bank approved for upto about $300,000. Does anyone have any suggestions on how I should go about getting a BRRRR property and applying for a construction loan?

I'm a licensed builder, I live in Massachusetts and would like to do as much of the work myself as I can reasonably do.

Post: Best places to find off market deals?

Jourdan MercerPosted
  • Posts 40
  • Votes 18

I'm fairly new to BP and trying to find my first deal.  I keep coming across people saying to try and find an off market deal.  Where is the best place to find off market deals?  Are there any sites that have off market deals?  

I keep coming across people saying to ask wholesalers.  Well, where do wholesalers find their deals? 

I tried to use the off market deal finder here on BP and I can't figure it out for the life of me.  I'm a pro member so I have no idea why it's not working for me...

If my location makes a difference I live in the middle between worcester and boston, ma.

Post: New Real Estate Investor

Jourdan MercerPosted
  • Posts 40
  • Votes 18

hey everyone.  At the moment, I'm looking to Brrrr properties down the cape.  Ideally waterfront if I can get the right deal.  I'm not planning on living there.  I'm planning on fixing it up during the slow / winter season and start airbnb'n it as soon as the nice weather hits.

Post: New Real Estate Investor

Jourdan MercerPosted
  • Posts 40
  • Votes 18

What's happening everyone!  

I'm a new Real Estate Investor and I just joined Bigger Pockets.  I've been learning all that I can about investing and I'm ready to start taking the next step and put my knowledge to use and actually do something about it.  I'm so nervous and very excited at the same time about purchasing my first rental property.  I've always loved real estate and fixing up houses and hated working for someone else.  I use to remodel houses and I'm absolutely in love with the brrrr method and also doing Airbnb.  Part of my dream would be to do the brrrr method and be able to put all of my skills to use and to be able to buy, design, create and make profits all on my own.

I've been listening to bigger pockets on spotify for awhile and I'm so excited to now be a part of the group.