All Forum Posts by: Mark Updegraff

 30 days

I just joined after attending Raisefest in Louisville.  The conference was the first of it's type I've attended... I know, I know, I've been out of the loop for waaaay too long.  The cost of admission was worth it as I was able to make really good connections with a lot of people both in the program and not.  I'm at one week since the conference and becoming a Raisemaster and not only did the conference really AMP me up, having the modules at my disposal over the last week has helped the momentum grow.  I know there is a lot that I'm going to need to learn, and ultimately it will come down to how much the student puts into it.  The program has a 30 day money back guarantee, which @Hunter Thompson says no one has ever used & I believe it.  I've been trying to add as much value as I can to the Raisemaster community as I navigate into the world of capital raising.  I've asked a couple questions in the slack so far and have had almost immediate responses from very experienced members.  I've only been in a week so far, I'm hoping there is a little more structure for new members than there seems to be at this point.  I know Hunter is busy, but it seems like something more needs to be in place for people that have just onboarded, though maybe I'm just not being patient enough as I'm sure they onboarded a surge of people in conjunction with the really excellent production.  I have a call scheduled with someone on his team for Monday & hopefully that gives a little better direction / insight into best practices for new members.  You can reach out to him direct on voxer but that seemed like an automated reply as well. You can talk to him / his team in the monthly meeting but they're on an agenda so don't expect to much one-on-one type support there.  There are networking opportunities with the group after these meetings as well but it seemed like mainly people in the program and not experienced capital raisers that are there by design (but I could be wrong).   Just my take away so far.  I'm definitely going to put 💯 into his program and will give you honest feedback along the way if you're interested.  You can ping me in this thread for an update anytime.  Sincerely, Mark Updegraff 

Awesome, where is the duplex?

I’ve never seen a roof inspector climb up on a roof, nor fill a tub… maybe your expectations are too high?  Or your buying garbage?  You get what you pay for… personally I don’t need inspections - I walk them myself.  If I’m buying distressed I budget to do everything anyway.  IMO slum props perform worse.  Spend a little more get a decent house.  You want a tub filled up maybe you should be there to fill it 😉

Awesome, Rochester is a great market!  I'll send you a PM, happy to connect anytime. 

Cheers!

Mark 

Maybe a duplex instead of hacking a single family.  That will give you privacy, and an investment.  

Go FHA loan with 6% seller's concessions to maximize your first purchase. Do it before your married so you both can get FHA loans. I helped a young couple like yourselves who each bought a 4 unit property. I sourced them off market for them when they bought, and then sold them off market for them about 2 years later and they profited 180k total. Not too shabby for a couple newbies! They parlayed that into their dream house on the lake, and had enough to also buy a fixer upper on the lake that is now an air B&B.

Welcome to BP! You've found the right place :D Buy and hold a duplex is a great place to start. In my neck of the woods cash on cash ranges from 3% in class a to 13% in the hood and we have everything in between. That is using a VERY conservative pro forma that factors in 35% for PM, Cap X, Vacancy, and repairs before subtracting out actual operational costs specific to the property. I think my market (Rochester NY) is a bit of an anomaly, as I've explored other markets but always return here where I rock my hybrid model where I trade off some cash flow but get a good area and position myself for an easy BRRRR.

If you're really confident that the equity is there buy them and then resell them.  Don't tell the owner what you're going to do, it isn't their business.  If you need to tell them you're renting them, do it.  Then change your mind after you close.  This is business, and if you can make a quick 100k, do it.  Then do it over and over again.  If you want more passive income, find another market.  Rochester NY is excellent for buy and hold.  Happy to give you some real life examples of what we do in Rochester.  We can't get 100k equity spreads like you can in CA.  If I could, I certainly WOULD!  Feel free to DM me anytime.

Cheers,

Mark

Rochester is an incredible market!  I work with a lot of out of towners and would be happy to assist.  We’re targeting some specific locations this season for sure!   

Warren Engineering 

Jim Salmon