All Forum Posts by: Sean McDonnell

Come hear from a local flipper and new construction investor on how she has built her business! Tell your friends :)

Congrats on this deal man! How much is it cash flowing each month?

A friend of mine looked into leasing a portion of a shopping centers parking lot to bring a food truck. The management company for that commercial space was open to it so maybe that could be an option? 

Is there any cleared land for sale in your area?

House hacking is one of the best ways to get started in REI and I think a small multi family will serve you better long term than a STR. That duplex could be your foundation on which you build your real estate investing business.

@Account Closed I dont know what the BP member count is in Australia but the Premium membership has been transformational for my real estate business here in North Carolina. It is a great way to connect with other investors and real estate nerds.

Sorry I might be a bit confused but is your question how to best calculate ARVs for properties? There are two good and easy methods I would suggest. The first is to leverage someone else to work for you. Build a good relationship with a savvy Realtor in your area and have them calculate ARVs for you. Any good Realtor will be able to do so quickly and accurately. I do this all the time for investor clients to help them analyze deals. 

If you dont value your time and want to learn how to do it yourself, there is a pretty quick way to do it all on Zillow. Look in the same area/neighborhood as the subject property and set the filter to show all the sold properties in that area. Try and find similar sized properties, in nice condition that have sold in the last 6 months. Figure out what the price per square foot is for those sold comps. Average it out and multiply that averaged price per square foot by the square footage of the subject property. Hope this helps, good luck!

It is a struggle for sure! Most of the offers our investor clients want to put in wont compete with primary residence offers for properties that are listed on the MLS. We are working on trying to build a system for finding more off market deals for investors. We have gotten a few contract for investors even in this hot market so it is possible, sometimes it just takes a while to get an offer accepted.

I think that no matter what the economy looks like people will still want to get away and vacation. As long as the numbers check out as a long term rental, which it seems like it does since that is what you are doing now, I would try out the Airbnb game. We were pleasantly surprised with the returns we got. Worst case scenario, you convert back to a long term rental! High upside, low downside

@Krystle Khoo Hope to see you and Ben there!!!