All Forum Posts by: Mike Garland

Congrats!

Tony, always open to visiting.  Feel free to PM me.

Spencer - my only advice is to make sure you connect with solid wholesalers. I have come across deals presented by wholesalers that they purchased off the MLS for around the asking price and are then offering it up to investors at a mark-up.

Some may argue that if the numbers still work out for the investor, who cares.  I guess my feeling is that this is not a very moral way of doing business.  If I was doing that to inexperienced investors, it would be hard to look at myself in the mirror...

Dominic, my take is in this current competitive market, your time would be better spent working on the "bird in hand" vs the one "in the bush".  You have this property, you know what needs to be done to it and it is in a growing area of town.  

At the end of the day, see if the necessary work on this property will give you back a good enough return on your investment into it.

Consider this as well:  by pulling equity out, I am assuming you mean to get financing on the property.   If it needs as much work as you are saying, that may be tough to get financing - unless the money is spent on the property...

Think your plan of a BRRR strategy may the best course.

Good luck!

This market reminds me of 2005-2007, but without the crazy home lending.   I am seeing loosening of credit standards on commercial loans, just like 10 years ago and that concerns me.  

Not sure where things are headed, but I am concerned about the real estate market here, doesn't seem sustainable...

Thinking of adding a new line to separate out my work calls from real estate investing calls.

Does anyone have any suggestions on utilizing either one or more extra phone numbers on one single device?  I currently have an iphone.

I saw an article on an app called Flyp that looks interesting.   Anyone have experience using this?

Thanks!

Feel free to reach out to me if a buyer is looking for conventional commercial financing.  

Glad to hear you are about to pull the trigger.   I am about to as well!

Glad to meet you!  Give me a shout sometime.

Welcome!  Brian, why invest in these 3 outside areas?