All Forum Posts by: Robert Haviland

Awesome, thanks guys for the information guys. I will have to check out those books and maybe see if I can find an investor in my local area who I can shadow as they run through the numbers on potential deals they look at.

Thanks again!

Hi Everyone,

I have a newbie question regarding how I should go about getting multiple GC's to give you estimates/bids on a rehab. For instance, if I wanted to look at a distressed property with my real estate agent would I need to bring my GC along with me so they can access the property and do their estimate? Also, if I wanted to get multiple bids should I bother my real estate agent to set up individual appointments so all the GC's can do their estimates on the property, or is it better to just have all the GC's meet at the property at the same time to do their estimates? Or should I just have the GC's get in touch with the real estate agent directly to have them run through the property to do their estimates without my involvement?

Sorry, I know it's a lot of questions but I am just unsure of how this whole process works. Please if someone could let me know how this process works and could give me a detailed step-by-step on how to go about getting multiple estimates/bids from GC's I would appreciate it greatly.

Thanks!

Hey guys - I'm looking to purchase a fourplex or a triplex, however, I have been running three scenarios through my head and wanted to see what you guys thought may be the best route to go. 

1.) Identify a more run down multi-family property that I can acquire for a better price in a upscale section of the city and use 203k loan to finance the rehab and increase rent value/property value.

2.) Identify a more run down multi-family property that I can acquire for a better price in a decent area more suited to my price range and use FHA loan to acquire the property and 203k loan to finance the rehab to increase rent/property value.

3.) Purchase a turn-key multi-family property that I can afford to put a down payment on with conventional financing in a decent area more suited to my price range.

I know that I would need to analyze the cash flow from each of the deals in order to properly to determine which of these scenarios would be the best from that perspective, but I guess what I am trying to ask is which of these three strategies would be best in terms of other aspects of buy and hold investment? For instance, better quality tenants/less vacancy/less leverage/more leverage/ect.

I'm still really in the beginning stages in trying to figure out how I want to go about this. I am very big noob so any and all advice or tips will be greatly appreciated.

Okay I see, thanks for the information guys!

Hey everyone,

I'm a newbie looking to get involved in real estate investing and was thinking if I could do flips by using 3.5% down with a FHA. For instance, could I put 3.5% down with a FHA, get a 203k loan to finance the rehab, and then(ideally) flip the property at a profit, at which point I use the profits to to get another FHA loan and repeat the process?

Also, would this be legal or what would be the legal ramifications from trying to use the FHA in this way?

Hi Gilbert, Brandon, and Larry nice to meet you guys! Thanks for welcoming me to BiggerPockerts, I look forward to being a part of this community.

Hi Everyone,

My name is Bob Haviland, I am 24 years old and currently work as an analyst at an investment bank. I recently read the book Rich Dad Poor Dad and ever since I have not been able to get enough. I want to learn as much as I can about making smart investment decisions and gathering cash producing assets. I believe investing in real estate is one way to begin doing that and I am truly excited to learn everything I can.

My current plan is to gather multifamily residences in my local Southern New Jersey area as cash flowing rentals and to flip single family homes for investment income, all with the goal in mind to eventually attain financial freedom. The steps I am taking to action my plan are as follows: read as much as I can about real estate investment, go to real estate investment meetings in my local area, search for possible single-family/multi-family properties to flip/rent, and lastly make posts on the BiggerPockets forums for guidance from experienced real estate investment professionals.

I look forward to beginning my path in real estate investment and getting to know the BiggerPockets community along the way.

Thank you and best regards,

Bob