All Forum Posts by: Teddy Smith

Property will come with a tax deed (sub-par to general warranty), so make sure you get a lawyer to fix that via quiet title.

I almost caved and did Zillow Premier, but I've just heard so many horror stories and seen many people spend crazy amounts of money to get nothing.

One thing I've learned in my somewhat short life: All knowledge is valuable!

If you stick with it and don't stop it should be well worth the 9k, OP. Nothing will attract investors more then that shiney CCIM symbol on your blog/website.

Zillow has an option. If you click "listing type" and look for the yellow circle, it'll give you some decent comps.

Numbers look solid, OP. Like mentioned above, most investors don't like condos. Many people got bit by the 90's condo boom/bust. But I've seen many condos that have great cash-flow and have had great appreciation.

Like any other RE investment, it really comes down to the locality and particular property/area.

I can't believe you cleaned that fridge, OP. I'm speechless. You take the word "hustler" and give it a whole new meaning.

In my experience, rural properties tend to have higher returns. They also are attractive to investors because they have a much lower price.

The only danger is buying something "too nice" because rural areas typically don't have the job base that cities do and it may not produce a decent return. Overall, don't buy a property in a warzone (bad trailer park) and/or don't buy a property more then 3 bed 2 bath 1,500-2000 sqft with lots of features.

Welcome to the exciting world of real-estate, Jajuan!

Feel free to reach out if you have any questions.

 I think there is some truth to that, Michael. Your target seller is a bit different then mine. From what I've found, most people just don't want to sell at a loss. My goal in mailers is more numbers and high equity individuals seem slightly more motivated to sell, but not to the degree that many would think. As an agent, it's more about getting as many calls as possible as opposed to finding that perfect seller.

OP, I've actually had a client was in the business of buying and re-developing medium-sized hotels. (20+ rooms, mom-and-pop owners, value add)

He used a cap-rate and was familiar most real-state metrics but he instructed me to do this:

Take net revenue and times it by 3. If it is higher then the selling price, it is a deal.

We never came to a deal on anything due to the fact most properties were in too bad shape. Just thought I'd aware you of how this guy did things. I dunno if that's the best metric for your scenario, but thought I'd chime in.