All Forum Posts by: Dave Passey

Hey @David McClain, 

It sounds like you are not taking all of the factors into account with having the property be a rental. It seems like you are only calculating the mortgage payment and forgetting about maintenance, capital expenditures, property management, taxes and insurance, and vacancies. 

It could still be a good rental, but just make sure that you are taking everything into consideration. 

I would recommend checking out the Bigger Pockets rental calculator, it is an excellent resource. 

I am a full time wholesaler. Our contract has a number of outs in it. One of them is a 15 day termination period for no money. You could make that longer. Or you could put down low earnest money and forfeit it if you need to cancel. 
We try to never use our exits if at all possible because as @David Lichtenstadter mentioned, you will very quickly get a bad name. That is always a bad situation for a wholesaler. 

Hey Missoulians! 

I have been doing real estate investing for a while in the Dallas, TX area but now live in Missoula. I have been getting ready to do a flip that my Missoula wholesaler partner found but I am without access to the MLS up here and have a tough time calculating out an accurate ARV or finding good comps.

I want to find an excellent realtor to work with me that would also be able to list my flip properties. I would hope that they do real estate investing themselves, but that is not mandatory. 

Anyone have a recommendation of someone that would fit the bill for this position? I am hoping to be able to establish a long term relationship that will be mutually beneficial. 

Hey @Tara Lindgren, welcome to Bigger Pockets! Missoula is definitely an interesting market. i think rentals could be amazing around here as long as the purchase price is right. I have been talking with a couple other investors about finding the right properties around here. Even with all of the apartments going up around here, I feel like there are still a lot of people that are looking for houses or duplexes to live in. Those are the types of properties that I look for. What would be your goals in real estate investing in Missoula?

I just wanted to put some feelers out there and see what sort of people we have interested in real estate here in Missoula. I just recently moved to the area and have been looking at a lot of properties that I could potentially start working on or get involved with. I have been wanting to get a little bit back into the construction aspect of the industry, primarily on properties that I would want to be able sell as flips or to keep as rental properties. 

A little bit about me, I work as a property acquisitions specialist. Basically, I am the one that gets people to sell us their properties. I determine the ARVs for properties, calculate the cost of repairs, and contract the properties. I am looking to use those skills to acquire properties in Missoula to build a rental portfolio. 

I would love to chat with and discuss the Missoula area market with anyone that has done, or has interest in doing deals in the Missoula area. One of the big things that I feel like I am missing in Missoula is access to the local MLS in order to accurately calculate ARVs and run comps for properties.

But all in all, I am mostly interested in seeing who else is here in Missoula that would be interested in talking about and doing some deals. I am open to everyone and looking forward to doing real estate investing in the Missoula area!

If you are saying that the 4-plex would only give you a total of $300 cash flow between all four doors, then I would say go with the SFR which is giving you $150 for a single door. With a 4-plex, you have more tenant issues for not really that much more money per month. At $75 per door you are making half of what you would compared to the SFR. Obviously this isn't even looking at any of your other numbers which would play a huge determining factor in your decision. Best of luck!

I would give him everything back. You may have legal grounds to keep some of it or all of it, but the decent thing would be to give it back to him even though it has been an inconvenience to you.

Joshua Dorkin This is a clever ploy to get more subscribers. Well played ;) keep up the excellent shows!! I am loving them!

Simon Baker I am here near where Nudge does business and I have heard negative things. Two days ago there was also a post in one of the forums regarding this company. You should do more research for yourself into this company. Just because I have heard negative things doesn't mean they are bad company. Just be wary.

I have worked with Lance Wakefield before. He was up here in Utah and he does excellent quality work. We worked on a couple of projects together and I would definitely work with him again. If you have any questions about him, feel free to contact me.