Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Sean Kirk

Sean Kirk has started 5 posts and replied 8 times.

Post: Rent ready (Turnkey) or value add?

Sean KirkPosted
  • Posts 9
  • Votes 8
Quote from @Jamie O'Connell:

Depends on the team you have in your new area. If you don't have a point person AND a contractor, I would not do value add. It's a headache at the best of times. 

I will also say in the smaller valued areas like I have in upstate NY I am having issues with appraisal. I buy, I add value and fix up and appraisals still come in weak. 

But my goal is always to try and get as much of my downpayment and CC back in my pocket so I keep trying. If your ok with not getting your CC and DP back quickly and can afford the 25% down on each prop plus CC I would go the rent ready way.


 Thanks for your insights. What does CC stand for?

Post: Rent ready (Turnkey) or value add?

Sean KirkPosted
  • Posts 9
  • Votes 8

With where interest rates are right now is anyone finding success in purchasing out of state rent ready homes? Rentals don't make sense in my city and the competition for value add is insane. I've thought about value add plays out of state but the managing of the rehab etc is turning me away. What are y'all transacting more on rent ready homes or value add BRRRR?

I'm seeing what seems to be 10%+ cap rates on roofstock. Has anyone bought from the platform? Is their underwriting sound?

Any agents work at a brokerage that offers you access to instant buyers like eXp Express Offers, etc? Does this type of perk actually help get more listings or closings? 

Agreed, the more parties involved usually the more difficult. Even going directly to the hedge funds can have its communication problems. This type of headache is what I'm resolving. 

@David Ramirez Glad to see you are still getting deals done in this market environment. Just shot you a connection request and message. 

I'm looking to discuss disposition opportunities with experienced wholesalers. I represent hedge fund investors and want to know how to make this transaction experience simpler and faster from your prospective?

Connect with me and then shoot me a message to discuss. 

I'm building out a collaborative buyers network to help streamline the disposition process for wholesaler's A to B contracts. I'm currently working with experienced wholesalers (5+ deals a year) to understand their challenges and co-create solutions to easily sale their contract to investors. 

Any experienced wholesalers willing share insights into their pain points and solution they wished was out there?

About me:

6 years of experience in institutional scale investments in single family homes placing over $5+ billion in acquisitions and $200+ million in dispositions for 3 of the largest single family rental hedge funds.