All Forum Posts by: Nick Dunin

@Cole Ihrig @Shea Spinelli

Hey guys, I’m a new investor in the area as well. I’m located in Hallsville, just east of Longview.

@Andrew Postell. Andrew... thank you for the write up! It’s very helpful and I’ll be saving this!

So Im watching a lot of BP youtube videos.  One of the videos was talking about how to figure out how far to take a rehab, how much should you put into the finishing touches.  Like the type of countertops, or backsplashes etc...  And that thats all based on comps.  So Im seeing a lot of videos that say "that's what your real estate agent is for".  Now these guys work for money obviously....so do I pay them for comps?  Am I expected to use them sell or buy a property at some future time?  How far can I use them before I they expect a return for their time?  
Any help on this is appreciated!  Thanks.!

Originally posted by @Zachary Beach:

@Nick Dunin I'm finding 20% CoC in vacation rentals. I have a property I bought for 196k all in at 240k including furniture At the time ARV was about 300K closer to 400K now and we have  revenued 25K on the property to date in 2021 not counting future booked payouts. So in 50 days. It's more of a business than a rental property and more about management than the property itself.

Thank you sir!

Originally posted by @Stephanie P.:

Hi Stephanie.  What do you mean the numbers work out in your favor if you can wait 6 months?  Can you elaborate?  Thanks.

@Zachary Beach you're able to find 20% CoC deals? Where? Maybe I'm doing my math wrong.

Originally posted by @Will Fraser:

For sure . . . mobile is a variable quality and longevity variant of houses and this type (more modular than your typical manufactured home) seems like a mobile home on a slab foundation in some cases, and on piers with fancy skirting in others.

Ultimately I'd rely on a robust due diligence period before jumping into this without having the ability to walk the property first.

Thanks WIll

@Will Fraser:

Thanks for the reply Will!!

What do you think about these types of structures?  I havent had a chance to go look at them yet, we're snowed in, but it looks like some type of modular type buildings.  I'm curious about the longevity and value of these types of buildings.  Hard for me to know if this is a good deal or not based on that.  

So I just started researching real estate investing a week or so ago. Been reading a lot here, watching a lot of BP videos on youtube, spoke to several friends that are into real estate. One guy I know that is into rental properties I was speaking to him, asking him questions, and he is wanting to sell one of his properties to me. It's not listed, and he says hes not in a hurry to sell. It's about a mile away from my work. Its a single lot with 3 small 1br/1ba homes. He wants 160k for it, its fully rented and he gets $2k/mo in rent. He pays $65/mo in water and take care of lawn care which he says only takes 15 minutes. Tenants pay their own electric. One of the houses is totally renovated with new everything. I'm told it could be rented for more. Taxes are $1350/year for all 3 combined, and insurance is around $900 for all 3 combined. He's going to confirm exact insurance cost tomorrow.

This is an older guy that owns it, he's been in the rental game for a while, and isnt planning on getting out, he told me about another rental he's about to buy. I've known this guy for several years and have never had reason to doubt his word. But the natural skeptic in me is wondering why he would sell something that has such good cash flow. I asked him why he's selling it and he told me he wants to pay off some other debts. Help me out with this guys. What else should I be looking at or evaluating that I may not be at the moment. Im going to drive by the property tomorrow, weather permitting, but here's a picture of it from street view...

These pictures are a couple years old, found them from when they were listed for sale before, so there's probably some updates

So I just started researching real estate investing a week or so ago.  Been reading a lot here, watching a lot of BP videos on youtube, spoke to several friends that are into real estate. One guy I know that is into rental properties I was speaking to him, asking him questions, and he is wanting to sell one of his properties to me.  It's not listed, and he says hes not in a hurry to sell.  It's about a mile away from my work.  Its a single lot with 3 small 1br/1ba homes.  He wants 160k for it, its fully rented and he gets $2k/mo in rent.  He pays $65/mo in water and take care of lawn care which he says only takes 15 minutes. Tenants pay their own electric.  One of the houses is totally renovated with new everything.  I'm told it could be rented for more.  Taxes are $1350/year for all 3 combined, and insurance is around $900 for all 3 combined.  He's going to confirm exact insurance cost tomorrow. 

This is an older guy that owns it, he's been in the rental game for a while, and isnt planning on getting out, he told me about another rental he's about to buy.  I've known this guy for several years and have never had reason to doubt his word.  But the natural skeptic in me is wondering why he would sell something that has such good cash flow.  I asked him why he's selling it and he told me he wants to pay off some other debts.  Help me out with this guys.  What else should I be looking at or evaluating that I may not be at the moment.  Im going to drive by the property tomorrow, weather permitting, but here's a picture of it from street view...