All Forum Posts by: Samarth Patel

Hello - I have an offmarket turnkey property and I am attaching the analysis I did. My goal is to buy and hold. With the current interest rate environment I would be breaking even, however I believe long term once the interest rates stabilize, I can refinance and cash flow positive.

Any thoughts or comments would be appreciated!

I stayed in Venice Florida for 2 months. Definitely market there for short term rentals and travel nurses due the hospitals in the area.

Thanks, guys! All good advice. I just started reading the book yesterday and so far it's been super helpful in understanding the overall process. @Ian Hogan @Filipe Pereira what is your high-level approach when looking for a deal. Here is my process. First off, when a deal comes through, I would quickly look at the area and neighborhood, then do a drive-by. If I am further interested then schedule a showing, run my analysis, and then finally make an offer. The part where I am struggling is bringing GC to each of the showings. First off, I want to be mindful of their time and second off it can also start getting pretty expensive paying them for each visit. 

I guess as Ian mentioned, I will get better with time and experience, but wanted to see how other investors were approaching it. 

Taking a lot of pictures and then running it by a GC or do you suggest bringing a GC to each showing and paying them? The latter can start getting expensive I am guessing if we don't move forward with the deals. How do you guys run a deal? Here's what I was thinking high-level, to begin, I would look at the overall area and neighborhood, drive-by, then schedule a showing, run numbers, and then make an offer. 

Hi Jamila,

Townhomes can be nice, but as Rui mentioned, HOA can really stress your numbers. I know you are looking into the North Heaven area, but, West Hartford, Rocky Hill, Glastonbury are great towns with good school districts that you might want to look into as well. Best of luck!

Hello,

I am looking to do a BRRRR deal in Connecticut and looking to see how you guys approach estimating rehab costs on a property. I have come across a few BRRRR deals and have tried estimating the rehab costs myself, but I feel like it might not be the most accurate. Are there are resources, books, etc. that you have found helpful in developing an estimate or scope of work? I also explored the idea of paying a General Contractor to come with me to look at the property and developing a detailed scope of work, that then I can use to solicit bids?

Great discussion here. I have a similar pre-screen form at https://docs.google.com/forms/...

Appreciate if you guys can take a look and provide some feedback.

Also, do you guys respond to people who filled out your pre-screen questionnaire, but did not meet all of your criteria as a courtesy or you do not? 

Awesome thread! I created a Google Form that has similar questions listed above, that I send to anyone that inquires about the property. My question is, do you respond to the prospective tenants who have filled out the questionnaire but do not meet your minimum criteria? I have several prospective tenants who meet some criteria but not all. Not sure if I should respond to them letting them know that unfortunately, they don't meet our criteria (ex. credit score).

Looking forward to the event and meeting everyone. 

I'll be attending.

Thanks,

Samarth

Hello,

I am Samarth Patel and I came across the Bigger Pockets channel on YouTube and decided to sign-up. I am pretty new to real estate investing. Looking forward to learning a lot from this community.