All Forum Posts by: Mitch Messer

Hello! I bought 2 tickets to BPCON and I can no longer go. I was told I cannot get a refund but I can transfer by 1 October. If anyone is on the fence or needing tickets please contact me. Thank you!

I am almost at the edge of two accepted offers, a fourplex (consisting of three 1 bd and 1 two bd apartments) and a duplex (two three-bedroom apartments). Fourplex will cost 325K, and Duplex will cost 285K. The duplex has rental income of 2.6K , and the fourplex has rental income of 2.7K (has room to increase at least to 3K). Which one should I purchase?

I have a 5,4 , 3 car in a very nice nieghborhood.  Hoping to get 400K net.  I own it outright.  Was approached today to owner carry for a local investor who wants to continue to rent it out.  Is 25% down enough.. 100K, carry 300k ?  I have 2 more nice properties.. maybe sell all of them for $1.3 million with $300 K down?  Is that enough.. should I try to sell to different people so that i am diversified?  Thoughts?  

Appreciate the reply! Hate to be that guy, but if you could point me in the right direction for some beginner friendly resourced that would be awesome. 

Hello - does anyone have experience buying properties in Latin America? As a 22 year old with limited capital it seems this could be a feasible way to get started in real esate  - albeit it will come with more risk. 

Would absolutely love to connect with people who have experience in real esate outside the US.  Cheers! 

Hi all, 

I am just about a year into my RE investment journey. I've spent the last several months reading many of the BP books, listening to podcasts and meeting with RE investment professionals (attorneys, CPAs, realtors, mortgage brokers, builders, etc.). I have two main questions currently, and apologies for the long post ahead.

First question:

I have just formed an LLC with a partner and we have intentions on purchasing our first property ASAP. We've made some offers but no luck so far. Most of the conversations we've had revealed we just aren't making ENOUGH offers, so we are looking to increase our volume in doing so. We have been told that partnering with wholesalers who can submit offers on our behalf is a viable strategy, or to utilize parcel data apps and similar services to look up off-market and on-market properties to do the offering ourselves. Curious about thoughts on those strategies?

Second question:

I currently own a primary residence. My partner however, is renting (working on seeing if he is willing to house hack). We have ~$120k to put toward an investment and have been working with a broker to find properties in a specific area. Our intention is buy and hold with a focus on Cash flow. We have been in contact with both hard money and DSCR lenders. Regardless of our initial approach say for example a rehab, we will obviously need to secure a 30yr loan in the future to hold a property. With my partner being a renter, this means we cannot purchase through the LLC but rather that I would need to purchase in my personal name and then transfer to the LLC later. Does anyone have experience with this process? Should we draft an additional OA to outline the terms?

Hi everyone,

I’m a local investor based in Powder Springs, GA and I’m currently building my team. I’m looking for recommendations for an investor-friendly Real Estate Attorney and a Realtor who understands working with investors in this market.

Ideally, I’d like to connect with professionals who:

• Have experience with wholesaling, creative financing, and/or fix & flip transactions

• Understand the nuances of working with investors vs. retail buyers/sellers

• Are local to the Cobb County / Powder Springs / Kennesaw area

If you’ve had good experiences with any Attorneys or Realtors in this area who are investor-minded, I’d really appreciate your suggestions (and if you don’t mind, why you recommend them).

Thanks in advance!

This home is in a suburb of Dallas owned by a close friend/acquaintance. They are offering a stake in the rental home for 107k investment or I could buy it outright at 285k. It is tax appraised currently at $310,000. 4 bedroom. Former tenant was bringing in $2200, but they project new tenant should bring in $2600 a month. The owner will manage. The plan is to pay off the remainder of the mortgage owed on the house at $85,000 in four years from the rent proceeds and the mortgage payment. This was a house bought just prior to covid. There is a caveat where each year I would still pay half of the taxes of about $3k a year. 

So in four years we would have the option to sell the house to get 50% of proceeds or keep on renting and split cash flow of course, or use proceeds to get additional assets. The stock market has been at around 10% annually, but of course that's no guarantee, and this would be an option to diversify. I don't own any properties and am relatively new to investing in real estate. 

I really appreciate any thoughts or advice!

I am simply seeking a mentor. I have baseline knowledge and think I found some good deals for investors looking to buy, just seeking help. 

Hello. I found a 2 bed 1 bath with an assumable mortgage of 5%. The location is good, located within 10 minutes of a major city. The property was built in the 70's. I'm eyeing it as a potential STR play. The property will cash flow as an STR, but will lose $100-$200/month as an LTR, and I'm ok with that. My concern is that the property has been sitting on the market for 80 days. i live out of state, and I wonder why the property has not been snatched up already. Is there something wrong with the property that I'm not seeing? I like the fact that it has an assumable mortgage with low interest rate, and low downpayment ($16K). But I don't want to get suckered into this property just because it's a low downpayment with assumable mortgage. Should I be concerned that this property has been sitting for over 80 days? Should I move on to something else?