All Forum Posts by: Stephen Dominick

I would agree, I have been educating myself on RE investing for a couple of years now while saving money and networking.  I just think that getting your license, and working the job would be a great way of learning more and be able to analyze different marketplaces as well as find mentors.  I find the whole "investor friendly agent" niche  very intriguing.  I think I would like working in the trenches with other investors with the benefits of an education. Being an admitted "newbie". I find the relatively low expense to get your license is a great way for someone saving for investing to get in the game. Thanks for your input.

Thank you both for your input. I appreciate it,

I checked out BP about a year ago, (I have always love real estate) but continued with my 9 to 5 or more like 4 to 4 daily day job. I have made the most of my 2.5 (one way) daily commute to listen to the awesome podcast that Joshua and Brandon have provided. Very entertaining and super informative. I fancy myself as a buy and hold strategy.  Listening to Podcast 48 with Darren and  #80 with Jonna, both being "investor friendly agents". I was wondering if anyone thought that getting your license first to learn the business and the networking that comes along with it was a good approach to learning the Biz as well as the market place that you hope to invest in yourself.  Thoughts are appreciated . I've signed up for my real estate license classes anyhow, I always wanted it anyway, but is being a "investor friendly" agent really in that of a big demand anymore and will the hanging agency really be interested in that specialty.   Thanks for the input and big love for BP!!!!

Is it just a given that you will need 20% down for purchasing a investment property in today's market or is there still 5 and 10% down opportunities  out there.  Is a mortgage broker the best person to find the best deal out there as far as mortgage go?  Thanks for your time.

I am looking at a Quad. 3- 3 beds, 1- 1 bed. Asking $157900.
Gross rents anually $30300. Nice neighborhood. Worst building on block. needs alot of what seems to be cosmetic work, Paint, landscapeing and cleanup. GMR is 5.2. I think this needs a full workup. Any advice?

Thank you for all the responses. I will be buying and holding, re habing each unit as tenants leave,raiseing the rents and refinanceing after a year or so. With forced appreciation hopefully get enough money to get another one. The place is 100% rented now. I'll get the numbers together and present them here. Thanks again.

What is the best method to evaluate a multi unit home? I am in the process of educateing myself and maybe reading to may books to fast (information overload). Sooooo? what is it Cap rate, Sq/Ft compareables, Price compareables, GRM, ROI, or DSCR and I'm sure I'm missing some. I run the numbers one way then what about this way and that way and that way and so on. You get the picture. I've read a very popular and recomended book on Duplexes, Triplexes and Quads and, Yes the information is sound advice but not everyone lives in very popular vacation destination. What if its just an very soild neighborhood in the coal country of the north east. The community has not risen or falling in any dramatic way in 100 years. Just very nice, well kept homes blue collar homes. There are a number of multi units at very resonable prices,I think. Is it worth investing?

Yes the home is already on the property. All utilities are there. Its is also an REO. So it must of had a morgage at one time. Putting a MH on property would possibly work depending on what you could get the property price down to, but setup fees and transport fees may make it cost prohibitive. I'm intrested in buy and hold for long term cash flow and property accumulation. thanks for the input guys.

I've looked into the safe act and have read many interpretations.
Does it hing on the number of deals per year or is every transaction not allowed. Does it make any difference if the MH is married legally to the land? OR is it just the act of hollding paper that is not allowed. But renting it forever for positive cash flow and end up with land free and clear in a very short time that is still OK with the government? I Hope? I checked it out today. any info on Upset sales would be greatly appreicated. Thanks for the good advice.

I've been visiting a handfull of MH on private land for sale, mostly 1 to 3 acres. The asking prices are all right around what an acre of land would be if it had nothing on it. The homes are in decent shape. If you have the land appreateing and the MH paying debit service plus positive cash flow, thats a good thing right? Lease to own the MH and keep the land for long term wealth building. Make a MH park one location at a time. What do you think?