All Forum Posts by: Tanner Marsey

Good morning.

Looking for some advice, suggestions, opinions and guidance.

I have recently sold a property and will use it to acquire more in the near future, however, looking to do that In about 6-9 months. Wondering where the BP members would park their cash for the time being? Not looking for crazy risk/returns. Just something nice and stable. And preferably not something too heavy on the fees!

Any advice would be greatly appreciated. I am new to this realm as all I’ve done is stocks and RE. Thanks in advance!

While deals can be found and/or made on the MLS that isn't going to be your best source. You have a few options....

find off market deals via mailers, cold calling, driving for dollars, etc....

Use a wholesaler. Be cautious. Run your own numbers. Don’t believe a word they tell you when it comes to numbers.

Find a different market where the numbers work better.

Find a different way to invest in RE.

Find a property on MLS and offer what makes sense for you. Probably won't work often and your agent will probably become quickly annoyed by you doing this..... but it's an option. Maybe use it on homes that have been sitting a while...

good luck.

Same here in Ca. Running on razor thin margins. A few unexpected repairs during rehab or extended holding costs and they’re losing money. The home directly behind me was just flipped.... from 560k down to 515k in a matter of weeks. Still on the market and doesn’t seem to be much interest in it. Mediocre job on the flip and 0 curb appeal. And it’s happening all the time.

Sell it for whatever you can get and come up with the balance of the funds from somewhere else and be done with it.

Rent it.

Seller finance to another investor.

Lease to own option.

First thing I'd do is take it off the MLS though. You're gonna get yourself even deeper into that hole with realtor/escrow fees.

An industry that is ripe for disruption. I know most on here will disagree

Could be a problem that the bigger, more experienced, high volume investors don’t want to deal with. Doesn’t mean you shouldn’t look into and proceed if the numbers work. The fact that it’s been on the market for a year could be a blessing in disguise. Do your Due diligence, get creative, crunch numbers over and over. Good luck.

I’d only close if the house was delivered vacant at this point. Start from scratch. This maintenance is going to have to be done now or later. Get it up to market standard(unit and rent), new, vetted tenants on your lease. Think about this long term....

Besides RE, stocks/bonds/401k and a W2.... what other kind of investments/businesses are you into? Active or passive.

Let’s hear em!

Now: bad idea.

20 years from now: great idea.

Take advantage of the 16k payoff. Flip a house or two and pay off the balance. Keep your car. Pay it off. Keep it for another 15 years.

I know it’s an unpopular strategy/opinion but we got my wife’s loans down as low as possible monthly and we just pay them. The 180/mo doesn’t make a difference to us. I don’t think about it. I don’t look at it. Probably be paying that 180 until the day I die or Bernie gets into office but either way.... it’s zero stress and little money. Maybe one day down the road we will sell a property and wipe em out. Who knows.