All Forum Posts by: Patrick Wheeler

@Chris B.

Can't imagine that being the case. Maybe check with other rental agents in the area and see what they think?

Welcome to BP @Chris B. Definitely get active in the forums and check out a few local real estate groups like Black Diamond and Boston Wealth Builders.

Interested as well. Lets make it happen.

Hey BP,

I was wondering what some of you do when you come across bank owned properties or LLC's when searching public records on MLS. This is coming from my time driving for dollars and coming across these as owners of a distressed home I want to mail to.

Questions I am asking myself are, do I assume LLC owners are other investors, and, for the bank owned properties, is that something I need to find a way to contact someone within the specific bank?

Early on, these mailers were getting returned, so for now I have stopped mailing to both these categories until I have found an alternative solution.

Any advice from personal experience is greatly appreciated. Thanks in advance.

@David Santore I think the main goal is to live as close to free as possible. If after everything, you still have a $50 payment every month, well then that means your living expenses are $50/month. Not too bad right? From what I've seen, you will obviously have a better chance at cash flowing in a house hack with a triplex, but if you go duplex, consider being happy with at least, a very, very minimal living expense. Once you move out, you would then undoubtedly cash flow on that property.  

Hey @Brian P.

I agree with everything you said. I recently lived in Quincy for about a year and a half so I definitely saw all the new development. What type of investing do you do there and what do your numbers look like? Maybe that might help me picture it better, if you are willing to share.

@Paul Brodeur Welcome to BP! Make sure you stay active in the forums and attend some local real estate clubs. Could be a great way to find out what some of the local cash buyers specific criteria are!

@Charles Manuel

Do you listen to the podcasts? I know this issue has been talked about a couple times. I don't recall exactly what some of the guests mentioned as solutions for this issue, but might be something worth looking into.

Actually, maybe you could reach out to some of the guests that came on as husband and wife and ask how they were able to get on the same page from the beginning.

Hope either suggestion can help somewhat.

@Account Closed hosts and others. What type of investing are you initially interested in?

Feel free to reach out regarding anything.

@Dan Pezzano

Welcome to BP! The podcasts really are great. I am also in the process of obtaining my license, just waiting to take the test. From what I recall hearing, forming an LLC this early on is not all that necessary, but can be a personal choice. You will probably hear people stress more important things until you get big enough to start thinking of forming LLC's.

How has the class been going for you? Feel free to reach out directly regarding anything!