All Forum Posts by: Adam Sherwood

Im out of the country currently or I would be attending all the meet ups haha!

I have a property in South NH that is listed for reasonable price as a single family. I do not have experience with converting from single family and looking to gain more experience in flipping. Big ticket Rehab items are complete, mainly converting to split unit and cosmetic rehab needed. 

I am looking for an investor with knowledge on NH code and experience within Flipping realm to assist with finances and guiding me in the right direction. I will provide management of rehab and grunt work. Please reach out to initiate discussions on a partnership and how we can work together!

Hello,

Using Bigger pockets to assist in my job search!

So I have recently come into the fork in the road where I am trying to dial in my career to align with my personal and professional goals for the future. Two of those are Real estate Investing, and working in the Residential Construction Industry. I currently have a background in Semiconductor construction from starting as a detail engineering, working to be a construction manager, and now working as a Modular MEP construction consultant in the span of 5 years. I am highly motivated, soak up knowledge like a sponge, and open minded. My goal is to get into the project management realm of residential construction to start. Long term I would like to continue to grow as a PM but also be able to spend time weekly or monthly with other departments to better understand their procedures, tasks, and how the department should be ran. I would like to at some point be at the Executive level providing great leadership that focuses on open communication, innovation, continuous opportunity, and safety.

From my time managing people I have learned the most important trait in a great new hire is motivation and independence. I have both of those skills and am humble enough to take feedback and apply it to better myself as a person. 

If you have any contacts you feel would be a good fit for both myself and them please DM or comment! I am focusing on Southern NH area but am open to NH, Mass, PA, and AZ in general. Would take recommendations in the Carolinas as well but not really that high on the interest list. 

Hello all,

I am looking to move closer to family and friends...Ideally I would like to find my way to southern New Hampshire. I am looking into residential construction companies and want to get an idea of the markets direction in the areas mentioned and start networking with investors in the area. 

My main interests will be in fix and flips, BRRR, and buy and hold. If you have experience in any of those three please reach out. I am a construction manager in my 9-5 and have extensive background in top to bottom labor and management from my younger years.

I have not lived in the areas, have a friend that lives in Laconia so likely will be looking for a 2-4 unit that we will live in and work on fix and flips to build capital for the next purchase.

Appreciate the support everyone!
 

Hello all,

I am looking for a CPA to add to my team and assist in growth. I currently have a duplex and the first support needed will be taxes for 2024.

My goals over the next year are to purchase another 2-4 unit complex as well as establishing a long list of leads and maybe getting under contract for a fix and flip. The following year will be focused on fix and flips, depending traction potentially a buy and hold. 

The biggest roadblock in this is I am living in Germany currently and going to be finding a new job as I am hitting the ceiling in the current company I have. So I do not yet have a market I am looking in yet. Most likely will be the northern east coast. If you work in residential construction please reach out. I am looking for the right fit, I don't have to leave the company I am in but I want to get in the residential field. 

Please reach out if you are a well seasoned CPA with a personal investing portfolio as well as a good history of REI clients.

@Abel Curiel, 

When I first drove by this property in my initial search it caught my eye...out of the 100 or so properties i had on my initial list this is the only one that I had memorized the address of. 

Once I had it under contract there was no stopping me. That was my house and I would find a way or someone to help get it across the finish line. I look forward to continuing that drive and build on the experience when I return to the US. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $560,000
Cash invested: $60,000

I thank the dog next door for leading to this purchase. I got sick of it one night and told my landlord I will be moving out in 3 months. From that day I had 3 months to buy a multifamily. Originally this started as a house hack I have recently moved out and it is now a 2 unit with one half being furnished rental. I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

What made you interested in investing in this type of deal?

I've been wanting to start investing and buy a property since 2020 when I graduated. I was moving a lot for work and using that as an excuse to not pull the trigger. Growing up I spent years working in all aspects of building a home from concrete to roofing. I also ran my own roofing business one summer of college. From then I knew real estate investing would be in my future.

How did you find this deal and how did you negotiate it?

I used a realtor to help me with MLS posts and find off market deals. This was posted and up for 60+ days and saw the price dropping and learned the seller was motivated. Originally posted for 100k over what the purchase price was I submitted an low offer and received a counter. From there I accepted and negotiated to have the seller cover the cost of replacing the roof.

How did you finance this deal?

I financed the deal with a conventional loan and bought down the rate from 7.75 to 6.25. After some issues with the mortgage lender not doing their due diligence until the last minute they put in some of their commission to support the closing of this property.

How did you add value to the deal?

In the side I house hacked I updated the bathroom, I installed turf in the back yard, added a large shed, and furnished the Unit. On the tenant side I replaced the breaker panel to a modern one and fully repainted the unit.

What was the outcome?

I got over the hardest hurdle as an investor, buying your first property. I learned a lot through the closing process and also as an actual landlord having to deal with issues.

Lessons learned? Challenges?

1. ALWAYS ensure the contractor walks the property with you or the realtor and a CLEAR scope of work is defined. I got screwed on the reroof pricing because they said they only priced for the unit that was called out on the offer, when that is legit half the roof.
2. Ensure your mortgage lender is requesting documents upfront early in the closing period so there is no last minute suprises
3. Stay positive and expect problems. If you have a perfect closing and first 3 months your dreaming

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would highly recommend Realty One, the realtor Derek helped me solve all the major issues that came up and supported me in running the numbers for different properties.
I would be cautious with MLD residential lending company.

Too all that have responded. I appreciate the support and suggestions. All great comments this is the first time I have had difficulties getting this filled. Great learning experience and have a good set of steps to follow for the next property I need to post!

I have gotten traction since this post and some of the changes I made, I have multiple that have passed all screening and are ready to sign a lease now!

Hello,

I am currently located in Dresden Germany working for Infineon. I will be here for 6 months to a year and looking to continue hands on support/experience.

I am a construction manager and have a lot of background in contractor management, site scheduling, and quality control. I am working on increasing my knowledge and skills on the accounting side of investing.  

I can provide support of checking in on contractors, staging rental properties, walk potential leads to give you an idea of the property in person or what the area is like, meeting with agents, and drafting scope of work for projects. 

I own a duplex in Tempe Arizona and looking to continue to gain experience. If anyone has contacts or is in the area and sees my skills as a potential asset please reach out!

Thanks for the response Kyle and Josh.

I have updated the description and focused more on the amenities and fixed the wording of the sentences.

My parents currently live in the other half so potential tenants are directed to set up a time with them. They are retired so it is easy to have a quick viewing and ask to follow up after. 

Do you think I should keep pictures of the unit furnished to give viewers an idea of what it could look like?