All Forum Posts by: Nathan Witte

Hello,

I am wondering, what are some of the best ways to find good property managers and how do I identify a good property manager vs. a bad property manager. I am just curious, thanks.

Nate Witte

Wow that was extremely helpful!

Thank you so much Jessica!

Hello,

What is more valuable when starting a credit card to build my credit score, an unsecured or a secured card?

Thanks,

Nate Witte

@Erica Morrow well that is not such an easy answer. First and foremost, start looking at properties around your area but looking at deals daily. Learn the market and see what an average 2bed 2bath, 3bed 2bath, etc... listing is and once you start getting an understanding for your market, you will start to know when you come across a deal. The cost of contracts and such things are dependent on the title company that you go to, so you would need to talk to them. 

Hope this helped,

Nate Witte

Hello,

When using the BRRRR strategy or the Buy and Hold Strategy, generally how long should people hold their properties? And on top of that, does the length depend on the deal, market, or where the investor is with their progress? Meaning, if I am just starting out, should I generally try to buy, renovate, lease, and then sell the property quicker than I would if I already had a numerous amount of units under my belt?

Thanks,

Nate Witte

Hello,

Can someone explain what the difference between REO's, Foreclosures, and Pre-Foreclosures are? This might be a dumb question but I don't seem to see anybody ever talk about the difference between these.

Thanks,

Nate Witte

Hello,

I want to start learning about flipping houses and more about the BRRRR method, so what are some key things to look for in a house that can easily be fixed up and flipped?

On the other hand, what are some things to look for in a house that would be very detrimental and ruin a flip?

I think flipping would be a great way to build up my cash to use for more investing.

Thanks,

Nate Witte

A long ongoing debate is whether it is more beneficial to own a large multifamily or continuing to buy many Single Family Residences. I was just curious what all of your guys thoughts are.

Nate Witte

Hello @Erica Morrow,

The first step for you to take would be finding a motivated seller, whether that be because of financial issues, divorces, or someone just really needs to get out of town.

Next, go to a title company and put the property under contract with the seller. This contract will have contingencies that will allow you to back out if you cannot find a buyer for your property within the 30 day time period.

Then, go to an investor and make a contract with the buyer and you as the seller. You can include stipulations in the contract where the seller cannot back out if you would like.

Then go to the title company, they will know what they are doing because they have been doing it for years. The price that you bought the property for should be less than the price that you are selling the property for. The title company will give you the difference.

P.S. Remember that investors/flippers want to buy the property for max 70% of the ARP. Meaning you have to know how much the ARP value of the house is worth.

Nate Witte

Hello,

My name is Nathan Witte and I have been reading and studying about real estate for about 2 years now. I am really interested in Real Estate but I am about to start my sophomore year at Purdue University and I want to know if it is feasible or even possible for me to start investing in real estate, when I have no credit, an internship as a job, and go to school almost 2 and a half hours away from my hometown. Is it best for me to just spend these next couple years really studying and learning my plan of attack or get in the weeds and start? And if so, how can I start?

Thanks,

Nate Witte