All Forum Posts by: Vic Oyedeji

@John Slater thanks!

I'm assuming understanding big-ticket items helps you get an approximate rehab budget. Correct?

My worry is that I'll under / over estimate the rehab budget before putting the property under contract since I won't have a contractor walking the property with me in the beginning.

I'm a 1st-time investor. Meaning I'm looking for my first property. 

Thanks for the reply @John Slater. Can you use bank financing to get an REO or is cash-only?

I'm a 1st time buy and hold investor in the Raleigh & Durham area. The market here is pretty hot right now, and I'm looking for some cashflow opportunities with Single Family homes under $180k.

Although scarce, some of the deals I see are in pre-foreclosure or in foreclosure status. Is it a good ideal for a 1st-time investor to get these properties? Or should I wait until I gain more landlord experience?

I'm a buy & hold investor & I'm currently analyzing Single Family properties in B/C class areas in Raleigh & Durham NC under $180k.

If I find a property from the MLS/Zillow that needs some work and I want to look at it, when should I bring along a contractor? I've heard contractors like to know the scope of work before looking at the property since it saves them time.

What's your experience in this matter? Any answer helps!

Keeping my eye on this + the resources provided.

I'm a buy and hold investor in the Triangle analyzing B / C class areas w/ SFRs and small multi properties (1-4 units) under $180k. My goal is to get my first property in mid-2020, while I'm building my online business which will provide capital for my first deals.

Whenever the time comes to get into commercial RE, I'll keep this in mind.

Great responses! 

Doesn’t that work with better locations as well, where you can find properties that are distressed, forclosure, or have a motivated seller that you can get with a deep discount, which makes the cash flow numbers make more sense?

It may be harder to find those properties...but ultimately I guess (based on the reposes here) it’s a matter of personal preference if you prefer higher cashflow or easier tenants in a good location.

I heard a tip from one of the guests of episode #300 of the BiggerPockets podcast that said it's better to invest in a better location (class B and up) while getting less cashflow, than to invest in a class C (and below) location although more cashflow is possible, due to the higher price-to-rent ratios.

This is because better locations generally have better tenants, and although investing in a lower class location gives better cashflow, the possible tenant headache may not be worth it.

What are your thoughts on this?