All Forum Posts by: Spencer Campbell

I feel I've read and listened to enough material to get started. I'm just not sure which actual steps to take to start in the wholesale department. For example, do I make a website first, start an LLC, or just jump straight into finding deals and making my buyers list? I've listened to most podcasts related to wholesaling and they never seem to give a straight to the point place to start. Am I missing something? Any help would be much appreciated. I'm in the Northern Ohio market area. Thanks all!

@James Wise, I appreciate your input, Thank you. Hopefully I can get this moving and start my journey in REI.

Originally posted by @James Wise:

The asking price and estimated rents are pretty similar to what we are seeing in duplexes in our neighborhood. Those look good to me. 

What do the comps look like?

 I would say the asking price is on par with comps in the neighborhood. 

@Brent Coombs, I would say the area is a highly rented out area so the only downside would be resale. I have yet to see the house in person to actually tell if the property was maintained but it is mentioned that the roof was recently replaced. Also, I feel that because I would be just starting out, such a high return is crucial to surviving as a starter in REI. As time went by and I was able risk more on smaller returns then I would definitely take that on.

Thanks for your input.  

I'm looking to get my feet wet in real estate investing. I ran the estimated numbers based on averages and came up with this. The asking price for the property is $71k. The property in question currently has tenants and rents for $1,230/m. Based on the 2% rule I was going to try to get the property as close to $61.5k as possible, including down payment without discouraging the sellers. But my numbers are based on the all in (down payment /finance) price of $67,228. I also used a 7% for my monthly expenses across the board. According to the books I have read these numbers look better than average. What does everyone think?

Hello, my name is Spencer.

I am interested in learning more about the ins and outs of real estate investing. My main goal is to generate cash flow from multifamily units and move forward to financial freedom. I currently do not have any experience in real estate but have read a couple books and the short book available on this website. Real estate investment has been a dream of mine and didn't seem possible to move on and achieve my goal until now. Looking forward to the knowledge, experience, and relationships that I can recieve on this site.