All Forum Posts by: Paul LaSpina

@Ryan E. So you're saying start with SFH first? Get feet wet. I don't necessarily disagree but in thinking about Investment strategies and learning what I've learned to this point, If it's a true deal and the NUMBERS make sense, whether it is for $100K ot $10mil the investment should make $$. My thought process is if I can Find and analyze a multi unit deal (To me it seems those size deals are much more predicated on the "Numbers", even more so than SFH) that has Money making potential for an investor, That engages the "Law of large numbers" for both me and the investor. Maybe you disagree?

@Alexander Felice

@Joe P.

@Account Closed

Maybe my initial question wasn't phrased properly. I have built up a small network of wholesalers/Cash Buyers and have some contacts in the industry (Agents/Brokers) and also have SOME potential to raise $$ from Friends.

It seems with that minimum experience and track record that finding Partners/Mentors and Funding sources is a tall mountain to climb?

@Chris Tracy   Thanks ! Great site... And I agree 100%, that's what I'm MORE than willing to do.... Any advice on how to connect with some experienced investor looking to connect with someone willing to do anything to help them as an internship/partner?

As a brand New investor with NO track record and Not much $$ to talk about is it Really possible to find a deal, find the funding for a deal and close?

Don't private lenders want some $$ protection for funding Newbies? Don't they want to know they are dealing with someone with experience?

From what I've been hearing and learning you need one or the other or both to be considered for funding?

Any advice?

Paul

@Marc C.   Great advice Marc.... Question: How do you get their bank statement info to compare with their bookkeeping file and tax return? And what exactly are you looking for when you are comparing them?

@Henri Meli Well that's very helpful !! What's a CA ? Also would a residential duplex/triplex/quad have a T12? what is a T12?

Thanks Henri, you are the MAN !!

@Henri Meli OK, so you bring up my point. I don't know what is the first piece of data I should be looking at?? OK, ARV is not critical, I get that for MF.... What is? what is the FIRST piece of data I should be looking at? what is the SECOND and THIRD etc...??

And where do I find this Data?

@Jerryll Noorden Thanks for that and I get you, That's what I'm saying, I don't think those 'Rules" mean anything. My concern is how and where do I find all the pertinent data to evaluate a deal.  I think all these online software calculators are OK once you actually know how to evaluate a deal but that is my sticking point, HOW do I start and finish the evaluation of ANY deal??

Thank you gentlemen @Henri Meli and @DJ Cummins

I am looking at a Multi family in Brooklyn NY, My goals are rental prop investing. My dilemma is what is step 1 to evaluating ANY property? Do I try to figure ARV first? Where do I get all the data I need to put into ANY calculators? I watched the videos on all the software from BP and others and they all look so simple putting in the expenses/costs data but where does it come from?

If I receive a lead that give me the asking price, the rehab costs, the ARV (which are coming from some other investor/wholesaler) what is the FIRST thing I should be looking at or asking for to get the data I need to make an evaluation?

I'm newbie investor and I've done all the reading and learning to get started. My concern at this point is this. I get allot of wholesalers emailing and texting me opportunities, any are out of state which I don't think I'm ready for. In any case, What is step one in determining if I should even looking into the deal any further? Do I use a quick "Rule of thumb" to make this determination? 50% rule? 2% rule? ARV?.... that's where I'm stuck already, I get these properties but how do I even start to determine if it's worth looking at?

In addition, How do I get all of the additional information needed to eval? Taxes? Liens? True rehab costs? ARV?... I know these are basic questions but I just don't know the step by step to even take the next step if it's worth further eval.

Hope to hear back with some great advise and expertise/experience in simply taking step 1....