All Forum Posts by: James Vermillion

Welcome to BP Francys. There are a ton of resources here on BP (forums, blogs, fileplace, podcasts, etc), so make sure you take some time to browse the site.

Have you checked out The Ultimate Begineer's Guide?

Also, you will learn a lot more if you stay active and ask questions. Good luck and let us know if you can't find something.

Louise Whidby, at the top of the page there is a box that says "monitor topic"...check that box.

Then you can click on "my watched topics" to see all the threads you have saved. Good luck!

Welcome to BP Rae Remer! One great thing about real estate investing is the abundance of options. I agree with the others about HML's, it is almost unheard of to find lenders willing to lend 100%, especially to someone they do not have a pre-existing relationship and track record with.

There are other ways to get started as some of the others have pointed out, so take some time to explore the site and the podcasts and figure out which strategies might work for you.

Welcome to BP Blair! I love NOLA, I used to visit a lot when I was living in Shreveport. I love the idea of owner-occupying a MF property as a starting point, so good luck with that. Let us know if you are not able to find something you are looking for.

Thanks Michael D...I messed that one up!

Louise Whidby, no worries. Maybe I can explain better. Lets look at two properties.

Property A (subject property): 10 years old, 1700 sq ft, 3 bedrooms, 2 baths (lets just look at those items to keep it simple).

Proberty B (the comp): 5 years old, 1500 sq ft, 3 bedrooms, 2 baths

We determine the following adjustments need to be made:

Age: -7,000
Sq ft: +5,000
Bedrooms: none
Bathrooms: none

If the comp sold for $150,000 we would subtract 7,000 because the subject property is older and add 5,000 because the subject property is larger, leaving us with a total adjustment of -2,000.

Based on this very limited example, the subject property would have an ARV of $148,000.

Does that help at all?

Guillermo Beraun, you might try adding him as a colleague here on BP (make sure you send a note as to why).

Congrats and welcome back!

Louise Whidby, those are the adjustments being made to the subject property, not the adjustments to those comps. So since the comp was larger, the adjustment to the subject property would be -3k for age.

Welcome to BP Kyle! Make sure you browse the forums and blogs and checkout the podcasts, there is some great info in each of those areas of the site.

Don't forget to upload a profile picture. Good luck!