All Forum Posts by: Patrick Wheeler

@Joe Cronin My partners and I are currently working with a GC a bit who is based out of Quincy. Send me a pm and I will share his contact information!

@Ronald Beaton Welcome to BP! If you are looking for wholesalers, I would definitely recommend attending some local REIA meetings to start networking. Start telling everyone what you are looking for. Also, if you search here for wholesalers, you should find numerous posts containing them.

@Josh E. See if you can partner with some of your friends or family in these areas. How did you find the couple duplexes you have? Maybe look for these new deals the same way. For property managers, once you find a deal, reach out to some local investors of that area and ask who they are using. Referrals are always the best way to go.

Also, despite competitive market in Utah, I'm sure there are still plenty of deals to be had. Could just buckle down and focus on marketing to find the deals. That is what my partners are doing here in Boston instead of branching out to other markets for now.

@Sebastian Fernandez Try attending some local REIA meetings in order to start networking with people who have been investing for a while. You have to be able to provide some sort of value to these people. Be sure to share your experience with that online course. Will be interesting to see if that particular course is like most others.

@Brad Kelly Welcome to BP! Sounds like you have put a lot of thought into your plans which is great! House hacking would be a great way to start if you can do so. If you are looking more in the area in which you currently reside, it could be easier to find a good deal than if you looked closer towards the city.

I agree with Linda in the idea that starting out with house hacking is the best way to go. To answer your question specifically, I wouldn't say there is a set amount. Start looking into some of the creative ways to finance deals. For example, I am looking to BRRR into my house hack.

@Ian Hooper You talked about more being revealed during inspections. I'm not sure if auctions vary from state to state, but are you typically able to get an inspection done before you close on the property?

If I am correct, here in Mass, winning bidders do not technically own the property until they close.

I like foreclosure auctions so I continue to try and learn more about them. Have been attending them for a few months now.

Project Update

We have made a decent amount of progress, but with about a month and a half left until our projected deadline, we still aren't nearly as far along as we would like to be. We are also about 20k over budget, with most of the overage coming from additional demo that needed to be done. Another frustrating part of the project has been the walls. There were multiple layers of wallpaper and paint, so removing them all has been a challenge.

Luckily, everything with the plumbing and electrical has gone smoothly as those were the biggest aspects of the project. Rough electrical is signed off on and the same should be said about the plumbing next week. All new hot water tanks and furnaces are installed and are looking good. Definitely looking forward to finishing up this renovation and moving on to the next one.

Below are some more progress pictures.

@Jennifer Pham Yeah currently only focused on the Boston area. May change soon, but I spent some time looking at other markets before deciding to buckle down in Boston. Always happy to share my experience thus far!

@Gabriel Cashman Welcome to BP! Good luck in your journey and make sure to stay active in the forums!