All Forum Posts by: Account Closed

@Charles Okafor

Briefly - as a buy and hold investor I am looking for cash-flow but I am also looking to have tenants build equity in my properties for me while I utilize the tax advantages of the properties. I still use some principals of flippers, I am trying to find properties at a good price where I can get some equity right away but it is not nearly as important for me, its really just a little insurance. I am looking to hold properties for 20-30 years.

As for where to find flips, again I am not the best resource for this but I would say local court house auctions, foreclosure websites, and driving neighborhoods looking for run down or abandoned properties. Before you get into that you might want to go to a local REIA and try to connect with a local flipper or reach out to some flippers on BP.

Best of luck!

@Charles Okafor

I am not the best person to talk about flips, I am a buy and hold investor. You might be able to find a flip on the MLS but I think it would be hard. The condo in Florida was an MLS purchase but again that was 2009 so the market was saturated with foreclosures and there were deals to be had because the banks were just trying to unload as many as possible.

@Jessie Niu 

I am not great with numbers but my SFR portfolio will cash-flow 2k/month once I get this new one rented. All of that goes into reserves or the next property.

The apartment building I purchased with a partner, got it at a 10 cap but we are putting money into it so it is not currently performing as one. Gross is just under 60k.

@Brett Snodgrass

My first deal was in 2009 but I was not very active. I helped my sister buy a foreclosed condo in Florida, she lived there and rented a room out then we sold it in 2014. We split the profit and I purchased a foreclosed SFR in Ohio which I fixed up and am still renting out. So it has just been a couple years being real active. Still have a lot to learn but having a lot of fun with it!

@Nathan Sigars 

I just found them on the MLS, pretty straight forward.

Officially closed on a property today which takes my 2016 acquisitions up to 10 units. I purchased two single family homes and an 8 unit apartment building. 

I am particularly excited about this last deal just because there were so many times it looked like it was going to fall through and I was working with a new lender that did not seemed to be too focused or really care if the deal went through. 

Quick celebration that all of the hard work paid off and getting the unit ready to place a tenant. 

@Dan Hooper

Welcome to BP, feel free to reach out if you have any questions or just want to bounce some ideas around.

@Michael DeQuattro 

Welcome to BP and congrats on the first deal! Don't hesitate to reach out if you have any questions or just want to bounce some ideas around. I recommend the podcasts on here as well, very informative and you can make to most out of your drive time or workouts. 

Good luck!

@Mychael Hunter 

Welcome to BP! Like @Marlon Fong suggested, the podcasts are a great place to start and are packed with great info. Don't hesitate to reach out, best of luck!

@Tarek Wazzan

Congrats on those awesome deals! Wholesaling has always been interesting to me although I do not think its an area of real estate that would work for me. 

Keep it up and best of luck in the future.