All Forum Posts by: Walter Pape

BP,  My fiance and I are looking to buy our first home!!! To make our new home work for us we want to look into building or convert a garage into a mother in law suit. A little variation of house hacking @Brandon Turner ;) Has anyone done this and what are some estimation for cost, tips, and/or thoughts?

@J Scott

you mention door knocking. Ive heard only negative about this marketing technique. I thought it was a good idea. Suggestions on what you would say at the door? What information would you leave with the seller? Any other tips?

Peter runs a big time operation based on solid systems. I havent talked with him but what he does is described on joe mccall's podcast. What he does is found here: 

http://www.realestateinvestingmastery.com/brillian...

@Christophe Noualhat the split into 3* 1/1 would have to be resolved if you wanted to buy it with a home inspection or even sell it down the road. My biggest concern would be the work that was done to the unit for safety and future liability. Especially, being a distant investor. Also, depends on the area of town. Like anywhere else there are good/bad parts to invest in. If you want to PM me I will be happy to help you out further. 

Walter

Welcome @David Harvey!! Biggest advice that I can give you is for you to get active on the forums and reach out to other investors in your area. 

Cost of print ads are very expensive when compared to a target effort a direct mail or website will provide. Whats going to be the best use of money? Thats the question you need to ask yourself. 

Depends on the deal of course. If the numbers work and you get it under contract then the numbers should work for other investors if you are attempting to raise capital. I would line up a hard money lender if it comes to push to shove.

Welcome @David Mollis!! 

@Jeff Henry

 welcome to BP. I just sent you a request. Please, let me know how I can help you accomplish your goals. 

Walter 

@Corey Johnson Great question! 

This really depends on what type of investing you are doing, because if you agree to buy a home and you dont. Then you hurt your reputation and possible law suit. So, make sure to surround yourself with the correct support team before you make a costly mistake. 

My experience is within wholesale. I reached out to BP members and through that started working some leads. I got a couple of them under contract and spoke with cash buyers and added them to my data base. I did the same at a local REIA to increase my network. With an idea of what people are buying I am marketing to their numbers. I believe this go around will be easier due to more intention in my marketing, but I wouldnt have gotten here if I didnt just go out there and did something.

What type of investing are you going to do? How are you going to market to get that lead?