All Forum Posts by: Dave Passey

Why don't you tell us about yourself and what you have experience in and what sort of fields you are interested in working. 

There is not really much information provided to help me analyze the deal. Show me:

• comps for pulling ARV
• square footage of the building
• how many bedrooms/bathrooms
• a repair breakdown (70k might be a little or a lot)
• what money are you using - have you included lender's fee if you are borrowing any money
• how long is average list time on a property in that area

I see that you have realtor costs at the end at 1%, which is doable, but I often find that you are then getting a realtor worth 1%. There is definitely a difference. 

I would be interested in running more of the numbers on it with you and analyzing it, but more information is needed to be able to do so. 

If you are supplying the funds, then I would probably try to get added on as a lien holder on the property. If I were personally in your friend's shoes, I would not add your name onto the title in case there is any sort of dispute. And if I were in your shoes, I would want to be a lien holder because of the legal ramifications that can be enforced as one. 

Just my 2 cents

I'll be in Texas for this one. Hope everyone has fun!

Hey Egan, 

I hate trying to find a good property management company. Unfortunately, I don't know of any in Butte specifically. I have found that if I call and they don't respond or call back, then I probably don't want them handling the management of my properties anyway because they don't seem to be very good at answering the phone. A friend of mine said he had heard Open Door Management was good to work with, but he has not used them personally. So, you know, grain of salt.

Hey @Logan Aardrup

Missoula is a fun place to live and always has excellent activities going on. Beautiful hiking and outdoor activities surround us. I really enjoy Missoula. 

Real estate investing there has been difficult for me personally here. I know other people have been very successful. @Ryan Frey up above has done some really cool projects in town that I have personally walked through and love what he is doing. Really making the most out of each piece of property. I think that is one of the most important aspects of investing in an equity market as @Patrick McGowen called it. He is right that the majority of properties are overpriced. Finding the right properties and know what can be done with them to make the most out of it will take time to figure out, but seems like it can be worth it in the end. 

But, just like any other hot market, there are deals out there, they just sometimes take a little bit more digging to find. Creativity and flexibility with your methods will be key to maximizing your potential on each deal. 

Feel free to reach out at any time! Hope you enjoy Missoula! 

I was referred by a friend. We had been looking into real estate investing together and started out listening to all of the podcasts. 

Thanks @Kuba F. @Nabil Suleiman and @Nick Hedberg

I will reach out to each of you. I extremely appreciate the help!

I have a property that I am trying to look at for a potential deal in San Pedro and I was wondering if there was anyone with MLS access that would be able to help me get an ARV on the property. He is definitely interested in selling to an investor. Please let me know if you can help or if you know someone that could help.

Looking forward to it!