All Forum Posts by: Marcus Wright

I am currently going back and forth with a seller on a two-family house. The seller seems to have no other offers due to the fact he has a tenant currently three months behind on rent. I have been trying to get any information on the non paying tenant from the seller's agent with no success. I have no idea if tenant issues are related to COVID or any other factors. All I know is the seller and this tenant are friends. 

I put in an offer of 310K with the contingency that the tenant is out 14 days before closing. The seller countered with a purchase price of 299k with the contingency that if the non paying tenant is not out the deal will just be finished. This means I would lose my money for the inspection and the appraisal of the property. I would also be losing time during the closing process that I could use finding another property. The reason why I am still looking at this deal is for the potential of converting a basement into another unit turning this two family into a three family. 

Any advice or tips from similar experiences would be great!

Hey Everyone

I will begin my search for my first rental property in January. I intend on having to rehab this property. I was wondering what others may have used for a rehab loan or how they financed a rehab as a beginner. Are there loan programs accessible for first time home buyers wanting to rehab? I have heard of the 203k loan but wanted to know what types of programs people have used.

Thank you

Hi everyone

I have been reading, podcasting, and very recently joined a real estate group in my area. I really want to get started and get that first property under my belt. I have about 10,000 saved but the multi-family houses in my area would require more than that and I don’t want to use all the money I have leaving no reserves. I’m looking into other financing options like a hard money lender among other options. Any suggestions or tips from anyone?

Hi Andy

That is a great idea! The deal machine app is great all you have to do is take a picture of the property and add the address and it will tell you if the property is owner occupied. If the property is not owner occupied it will give you the address of where the owner lives. 

Hi Everyone, 

Looking to see if anyone has tips and tricks to help make the driving for dollars process a little more easier. I have been having a hard time obtaining a map big enough with clear enough views of the streets without printing out a bunch of sheets using google maps. I have been using the deal machine app which is really useful! If you have not heard of this app I would highly recommend it!

Hi Everyone! 

I have been doing the driving for dollars thing in my area for a weeks now using the deal machine app. Two issues I have come across is getting a good map and keeping track of the streets I have already been down. I feel like if i had a better map keeping track would be easier. I have been getting print outs from the area I have been driving in from google but i have to print out so many it makes it hard to organize. Any Suggestions?

Hey everyone, 

I currently live in Exeter, NH. In terms of frame work of the group I think it would depend on everyone’s need. As I I said previously I am in the beginning stages (education phase). For me I think I would benefit from a group meeting relatively frequently discussing what areas of NH they want to invest in and why. Also maybe talking some creative finance options they are looking into if any. For me this an area of interest as I do not have a ton of initial capital being a recent college graduate. The biggest thing I think should be included is discussing our plan to obtain our first or next property.  

Very brief outline of my goal: 

I want to buy a multi-family home that may be a house hack depending on my finance situation. I am not afraid to dive into anything that may need some light to moderate renovations. I am looking for some immediate cash flow on that first deal. I have been looking in areas with good schools, near hospitals among other criteria. 

Hey everyone,

I just joined BiggerPockets (pro member) a few days ago and attended the 90 day challenge. I thought it was a great idea to form a group to help keep yourself focused and accountable on your real Estate goals. I live in new Hampshire but am willing to form a group with anyone who wants!

I’ve been in the education phase for a few months and still continue to learn everyday. After the 90 day webinar I wanted to get even more serious and set the goal of finding a deal in the next 90 days.