All Forum Posts by: Marcus Coleman

Hey BP people, I plan to get into flipping houses and I'd like to work with a flipper in San Antonio. This could be a work/knowledge exchange type deal. I'm willing to help with a flip in exchange for knowledge and experience. It'd also be great to take a mental break from sitting and working in information security all day; I swear I'm losing my mind from all of these alerts...

@Craig Curelop I’m just not excited about the idea of dealing with tenants. And I’m horrible at fixing things. Thanks, I actually do have a lot of questions about house hacking; I’ll message you.

Hey BP, Has anyone tried house hacking with an outside property manager? If so, how'd it go? Any advice for someone interested in doing this? For example, buying a four unit apartment building and and paying a property management company to handle finding and managing tenants. About me: I'm new to real estate investing. Haven't bought anything yet. I'm new to my area and trying to to get into the industry here in San Antonio(or neighboring cities).

I found at gutted house (1675sqft) in a nice neighborhood for $60k. I plan to offer $50k, and I'm guesstimating $50k total for repairs(as did my realtor who used to flip houses) but I'm new to this so I'm not sure how accurate that is. I plan to get a real number soon, either from a designer, contractor, or otherwise.

The ARV is $130k based on comps.

FYI, the house has a new roof, electrical, plumbing and furnace. It needs drywall/insulation, flooring, a complete kitchen, and new windows. There was also a new deck put in. It's a foreclosure, and the bank did all this work. It was gutted because of mold, which is why they put in a new roof and whatnot. No idea why the bank added the deck, though. It's been on the market for about 2 days, and the listing agent says there's a lot of activity(not sure how true that is).

What do you all think about this house from the information given? Is there any other info you'd like to know? Should I go for it? 

@Jacob Michaels

Do you live in Korea? Or do you just invest there? My future goal is to invest internationally.

Also, do you currently use a system where you require a large deposit, but offer a very low monthly rate? I wonder why that's not used very often in the US.

@Joe Fairless

I'm glad you find this interesting too.

Hey people, 

So, first of all let me say, I'm new to real estate investing and I don't work in the finance or economics fields. So please excuse my ignorance, but I wanted to know what others think about this.

Earlier today I spoke with a friend that's living in and is from S. Korea. She lives in Seoul, and the housing market is insanely expensive there. So, she recently "bought" an apartment in Seoul for $80,000 USD. How it works in S. Korea is, you don't own an apartment, but you pay for it like you own it. She pretty much paid $80,000 USD to live there for 2 years. But here's the kicker, she gets it back at the end of the 2 years!! That blew my mind.

From the sound of it, you'd get a loan from a bank(or pay out of pocket), pay the landlord the $80,000, and live there for 2 years. The landlord makes money off the interest of the $80,000.

Has anyone heard of this system being used in the US? Do you think it's a good idea? She mentioned that landlords are trying to move toward a monthly payment system because interest rates are so low. But wow, if you did more with that money, you could make a killing!

@Ryan O. I wish I could say I'm experienced. But I just started this year. I haven't gotten my first property yet. You should come to the A2REICmeetup in Ann Arbor. You'll meet a lot of experienced investors there.

I'll send you a colleague request, perhaps we can work together in the future. Once we both learn more about real estate investing.

Hey @Ryan O. welcome to BP!

I'm from Ann Arbor, too! I love this city.

You should check out

The Ultimate Beginner's Guide here on BP. It's free and very useful.

@Brett Russell Thanks!

@Joe Villeneuve I just attended Ann Arbor REIC for the first time last Thursday. It was great! I'm looking forward to next month's meetups.

I'd like suggestions on where I can find information to research different markets. I'm looking to flip houses.

I'd like information on population, employment grown/contraction, building in the area, socio-economic data, houses sold and listed, and averages on prices. It'd be great if they could break it down by area, too.

This might be asking for a lot, so I'd be happy with any suggestions that come close to showing this amount of information.