All Forum Posts by: Robert Gati

I've been speaking with Jeff Greenberg at Synergetic Investment about participating in a multi-family syndication they are currently fund-raising. Please PM me if you've invested with them, I'd love to hear about your experience!

This is the company:

https://www.biggerpockets.com/co/synergetic-invest...

Thank you!

Hey @Noel R., I've taken to the concept of getting contractor bids after getting a house under contract and adjusting the offer afterwards (thanks to the advice here!). So, just working with the agent and property manager for now. I'm still hunting for that first deal!

Hey @Brian Garrett and @Noel R., I'm looking in the Little Rock market.

@Aaron Cullen, @Aaron K., @Jason Carter

Thank you guys for your feedback, I greatly appreciate it!

Hey BP,

I'm hoping to get some advice from investors who have successfully done a long distance BRRRR.

I'm hunting for my first investment property and my goal is to do an out-of-state BRRRR for a single-family home.

I read @David Greene's fantastic book, and have been following his methodology step-by-step.

I'm currently in the team-building phase to have my boots on the ground. So far, I've started working with a real estate agent I think is great, and also believe I've identified a property manager that I think is a good fit for me.

The agent has been bringing me deals that seem to fit my parameters. I've been able to ask the PM for an opinion of rent ranges and neighborhood strength of these potential deals so I can analyze them properly. Now the last piece for me before I feel confident making offers is getting a grasp on a potentials deal's rehab needs (the rehab part is my big blind spot as an investor).

I've put together a list of about 10-12 contractors to initially contact in the area, but I feel a bit hazy on the bid process, and how often you can ask contractors to look at houses and give you an estimate on repairs. If the BP podcast is true that 9 out of 10 of your offers don't make, do you out-of-state investors constantly ask the same contractors to look at homes you are considering? How many times can you do that with a contractor before it becomes exhaustive on the investors part? Or is this all the expectation for everyone who is a part of your team? I feel confident in most aspects of deal-analysis, except for understanding repair costs, especially when looking at online pictures from afar, so this is the area I'm feeling a bit stuck before truly engaging in any kind of offer-making.

Thank you to any experienced long-distance BRRRR investors that are willing to share some wisdom with a newbie like myself!

Rob

@Tammy Patchin @Rachel Fazio @Hadar Orkibi, thank you for the feedback!

I'm looking to start investing in the Little Rock area and am looking for an investor-friendly real estate agent.  @Tammy Patchin, did you find anyone you liked from when you started looking?

@PatrickDaniel, @David Zheng, @Matt Clark, @Mark Fries - Thank you all kindly for your responses! We've decided to go with the cheaper option.

Mark - There is a leak in the roof that spurred it all. It's not leaking into the house...yet. It doesn't rain that much in LA so it hasn't been critical, but we need to fix it. The roof is nearing the end of it's life anyway, so we figured it doesn't make sense to patch it, only to replace the roof not too much later.

Hi BP Community!

I'm a rookie just getting started in Real Estate. I currently live with my fiance in a 4 bd/2.5 ba home that is much larger than we need. To get started building our portfolio, we want to rent a more appropriate space for ourselves (a 2 bd) and then rent out our current home to collect the remaining cash flow.

Our home needs a new roof (we have a flat roof in Los Angeles), and while it's not critically urgent to repair, we figured we should do it now before placing a tenant in the space. 

I've gone about finding roofers by calling local roofing supply stores and getting some referrals of their best customers. Of the roofers coming to our home, they are all in the range of $10,000-$15,000 to replace the roof. I've whittled my list down to two options, based on price, meeting these roofers, and cross-referencing online reviews I've read about the companies.

I'd love to ask for advice on the two options I have, because I'm starting to feel analysis paralysis. Basically both of these companies come from a roofing store referral, and both have strong reviews on Yelp as well. Company 1 is quoting $10,350 and Company 2 is quoting at $12,800 for the same job.

Where I'm getting hung up, however, is that I just got a bad vibe meeting the roofer from Company 1 (who is priced cheaper). I felt he was trying to up-sell me with other options, and also told me that the material prices would be going up in a few weeks because their contracts with their building suppliers were changing (although I don't remember his exact wording anymore). And he also was telling me about financing I could get if I didn't have the money myself to pay for the job. Finally, personality-wise, I just didn't like him.  However, when I searched this person's name specifically on the company's Yelp page (he is not the owner of the company), he too had a few great reviews.

I felt much better with the roofer from Company 2 ($12,800). He felt more like a straight-talker, seemed knowledgeable on some other things perhaps overlooked by other roofers, and I liked him. He did tell me though that I would also pay $200 to have a separate crew install a plastic covering on the roof from the inside of the house to prevent debris from falling through inside. So I guess we can put it at $13,000. I tried to see if he would reduce his price since I had a better competing bid, but he said he could not come down.

So essentially, I'd be grateful for opinions on who you would choose. Maybe I'm being too sensitive regarding Company 1 guy's salesmanship pressure, considering the company appears to be reputable. I'm trying to figure out if it's worth paying about a 30% premium for the guy that I "felt better" about...considering I'm so new to anything home-related.

Thank you for any advice or guidance BP!