All Forum Posts by: Scott Leuchtmann

 Don't underestimate the West side of Michigan. Many people associate Detroit with the state of Michigan. Some of the highest appreciation in the state is in Grand Rapids to the lakeshore. 

Thanks for the advice. I have an agent. He's helped me with some offers. Two have been accepted, but inspections showed some serious defects. Others aren't being accepted. I understand the numbers game. I'm just curious if anyone else has written an offer like this. And, if so, how were the offers received from the sellers? Are there any pitfalls I should be aware of if I write an offer like this? Or, is it just the same as any offer that has a contingency? Should I write in an "accept by" date? I don't want to drown in the details, but I'd like to be as prepared as possible - I have never written a contingency like this. Thanks again for the help.

I'm a newbie still working on getting my first rental. My property manager brought me a great off market deal. The purchase price and rehab combined make 70% of the ARV - perfect BRRRR. It's in the neighborhood I've been marketing to. The catch is that the owner is in the eviction process with the current tenant. How do I write an offer contingent on the successful eviction of the current tenant? I'd like to get the property under contract but also want to protect myself from buying a problem.

This is very helpful! I was hoping that as summer starts to come around we might be able to start meeting in person for different meetups in Grand Rapids. 

My apologies for being tardy to my own thread!! I've been analyzing, visiting, and offering on properties. I haven't been able to make a deal work. I'll get there though. 

@Bhekizwe M. - Yes. I indeed am looking for a mentor(s). I learn best by doing. Therefore when someone can roll up their sleeves and let me in there to learn I retain the information much better than through theory. That 's why I get a little nervous on my first purchase - I don't want too many learning opportunities and mistakes to the point where I can't recover and I'm out of the game. I also don't want to overlook or pass by an opportunity because I'm "afraid to lose." 

@Michael Dumler - You are absolutely right. I'm having a bit of trouble with portfolio lending due to no experience. I'm OK with that - I'll get there. I currently am looking at smaller deals where I can BRRRR. I have some cash but want to be able to scale quickly once I get momentum. I live in Michigan so I am looking locally only for now. Indeed - I am looking for partners as well as mentors. I am good at finding deals and marketing. I just need someone with some expertise and cash to help me get through the initial breakthrough period. I'm nervous about partnering because I want to be sure I am bringing value as well as not giving up too much. Boy - do I sound like a newbie or what? Thanks for your comments and help.

Hi - I've been listening to Bigger Pockets for a couple of years. I've agreed with almost everything I've listened to - especially the logic behind the BRRRR method. I've finally taken the plunge and taken action. I started a direct mail campaign. I've been getting a pretty good response rate but yet to turn anything into a deal. I found a deal on the MLS and hope to close on that soon. The offer was accepted so we are in the inspection phase. But - I've found myself in a situation where I'm a bit in over my head. One of my letters found a local investor that wants to sell their entire portfolio in order to move into bigger deals. I think the numbers work, but I don't know how to structure or finance something this big. I've been reading as many books as I can not expecting this type of deal to fall into my lap within three weeks of me taking action. Does anyone have some ideas where I can go to get more information or help building this deal?

Thanks in advance!

Thank you to both of you - for the question and the answer. I started driving for dollars today. I Door Dash while listening to BP Podcasts and driving for dollars. The podcast speaks for itself. I'm a newbie - no property or deals yet. The podcast is such an incredible wealth of information I go to the well often. I Door Dash in order to "get paid" for my education instead if paying for it. The proceeds will go toward direct mail materials: paper, ink, envelopes and postage. Today I found three properties I am going to send letters to. Two are overgrown with weeds and clearly vacant. The third looks like a flip in progress. I'm going to try to get to it before it hits the market. Thanks to all the people in the forums. I know I need to start posting and contributing, so here we GO!!