All Forum Posts by: Mack Marchand

@David Narvaez I have multiple properties and have done my taxes personally since 2019. It’s super easy. TurboTax only ask for money right before you want to submit your files. I would give turbotax an hour or two of your time, and if you feel comfortable with the process, go ahead and file. Can’t hurt to try

Hi All,

I will make this quick.

I am an investor but recently attained my Alabama agent license. The initial thought behind this was that 1.) I can save money on my deals by getting the commission and 2.) can view more deals since I can conveniently schedule showings for myself instead of involving someone else.

I currently work a remote job where I have some spare hours during the week and was considering marketing myself as a real estate agent to buy/sell houses for others. Do you guys think this is attainable as a small gig on the side or does this need someone to devote full attention to be truly successful. I do not know how much work would be involved initially but wanted to see if anyone, in a similar situation, has made this work and how. Thanks for any input!

-Mack

If it doesn't make sense then don't do the deal.  Your most important deals are your first few deals where you do not have room for error.  

I am in the same situation in my area but what I am doing is lowballing as many deals as I can. (Recently got 45k offer accepted for 90k asking price)  Sellers are still praying that they can pull in 2021 prices but unfortunately for them, that is not the case.  The nations buying power has decreased but home prices have not declined just yet.  You can either wait for the numbers to make sense, which I don't suggest.  OR you could start making low offers on as many properties as you can.  As an investor, it has to make sense for you.

Hello all,

I am in the process of doing my dd for my first rental property. The property is a SFH brick home that was built in 1980. I did the house inspection yesterday and everything seemed be minor issues but the inspector pointed out that I have all aluminum wiring running throughout the home. I started asking my co-workers on their opinion and some of them have horror stories and some say that it isn't a problem. Based on your guys experience, is this going to be a home that will give me more problems or should I keep pursuing since the numbers make sense. I don't want to be 5 years into this rental and then the house is prone to fires or even worse.. I have to get it re-wired. Any information or thought on this matter would be greatly appreciated! Thanks much!

Hello all!

One of my long-term goals is to own a large apartment complex. One thing that I can’t figure out is how to find a lender for, let’s say, a 10 Million dollar complex.

I am very savvy and would love to run the numbers to show the lender what their return would be on the investment but at the end of the day, most any large lender is going to require a 20% down on such an endeavor. My day job will take a long time to save up for that type of payment and that is just not feasible.

I am trying to get my options and business plan together for something of the sort but I do not know where/how to start on that side of my journey. Do I have to come up with a solid numerical plan and present that to every bank until someone funds my business plan? I have a decent amount in savings but it is chump change on the large scale of real estate.

Any ideas/links/books on how to get started would be greatly appreciated!

Thanks,

Mack M

@Jonathan Trimboli Great choice for you! It would start to become expensive if you are talking about staffing an office with Apple devices but they are great for everyday use.

@Jonathan Trimboli Apple makes a great product for its intended use. It is meant to always power on and just simply work for the average user. Simple email, browsing, surfing etc. However, if you are an everyday Windows/PC user, you will find yourself googling how to do certain things but it’s not hard to learn at all. Mac Books are able to handle most modern applications just fine like PC’s since they make up a decent amount of the market share, companies make sure they are supported. They aren’t geared for any type of real heavy processing like CAD or video editing but it will suit you just fine. One note to add, make sure you buy the computer with intent to make it future-proof because you can’t add hardware if needed because everything is soldered. In contrast, most PC’s are capable of opening up the hood and adding more hardware resources if needed for more resource-intensive purposes. I think you will be happy with a Mac in this use case. Best of luck!

@Ehsan Rishat That aligns with my gut feeling so I thank you for that! I'm just trying to plan my future and the single family seems like i will be stuck in the house for a while before being able to invest in another property.  Concerning single family homes, would it be a better to try to find a habitable fixer-upper and work on it in my spare time to increase the value over time to resell or should I plan to pay off and eventually rent out? 

Just Trying to weigh the pros and cons 

So this is my first post on biggerpockets :)

I hope I will be able to learn and provide my opinion to really promote more activity in the investing world. With that being said, I am really scared when it comes to purchasing my first house, as I am a first time home buyer. I want to get my feet in the door but I am unsure which is a smarter decision.

I would love to find a duplex (to house hack) around my area (South Alabama) but they really do not show up that often. I would also be open to living in a fixer-upper and working on it in my down time. Then eventually renting out that property. This seems more down my alley because of the privacy factor.

Also, I am looking at REO properties because the prices seems appealing. I am in the process of looking for a foreclosure agent just to answer a few questions of mine.

Basically, I am all over the place and would like a push in the right directions. There are so many mixed opinions on the internet by highly credible people which does not make it easier.

Best,

Mack