All Forum Posts by: Matthew Meikle

@Monte Rice That could worth pursuing. Minus your rehab costs, holding costs, and closing costs mind you. There are many factors involved. With more specific details on a prospect, I'm sure myself and others would be willing to provide further guidance.

Don't knock on their door. Knock on the neighbor's door. They can and probably will tell you what they know about the problem residing next door. This does require you to be the kind of person that can successfully navigate a cold call. So, just be safe out there.

@Mike Chu You can enter the space as a wholesaler. You will need that 20k as operating expenses pretty much, but it can be done. Otherwise, move your focus to the midwest where your money might actually buy you a door.

@Monte Rice ARV stands for after repair value. So, technically, all purchases would be made below ARV. I sense that you might need to pursue your education a bit more first. At least you're in the right place and asking questions.

@Stan C. You need to at least follow inflation. Am I right to assume you're not running a charity?

@Gianluca Piovani I'd like to know where a 50k house rents for 1450.

@Monte Rice The short answer is yes. If you can find deals with enough room in them, you can use hard money. It is done every day. While some lenders may be wary to work with a newcomer, others wont have an issue if the deal is a good one. As a general rule, they concern themselves more with the merits of the particular property than your credit.

@John Teachout Well, I'm a newcomer to Florida. Brand new. I may be inundated with pet urine and cigarette butts before I know it. I don't remember seeing someone smoke in their house since I was a child, but I'm only familiar with the west coast.

@Syed Almamun It's likely not possible at that price to do a duplex conversion without the perfect situation. Check out The Fruitful Investor on YouTube for ideas. He recommends looking for 3/2s with a basement to convert into a 2/1 that has or can be given private access.

@John Teachout this must be a regional thing