All Forum Posts by: Zachary Ware

Hi Gary,

I would check out some of the BiggerPockets recommended lenders. You can find them in the "Build Your Team" Tab at the top left of your screen. 

I would recommend having some good contacts on the ground. For myself, I spoke with a handyman prior and let them know my situation. They know I am out of state and I typically do all of my repairs through them. They even take a look around the property for me when they go in for a repair. For showing the property, I would contact a RE agent in the area and inquire about a flat fee for each showing or possibly a % of the first month's rent for showings until it is leased. 

I think you may be asking the wrong questions here. It is good to think about what the property is worth compared to its history to know what has been done to the property. It is also good to know what comparable sales look like for a general idea on sale price, rental income, expenses, and cap rate though you will want to look at many of those items on a per-unit basis. But ultimately you should be asking what the property is worth to you. Doing a thorough underwriting and finding out where/if you will be able to provide more value and also considering what kind of returns you are looking for. You may be okay getting 7%-9% return whereas the next guy may not be looking for anything under a 12% return. 

I will be taking part in the upcoming Multifamily Bootcamp and am interested in hearing others' experiences and connecting with anyone who will also be participating! 

I have heard success stories here in BP where people bought a property lived in it for a few years, and then moved out and made it a rental. They continue this cycle every few years and you can accumulate quite a few rentals paying low down-payments like this. But moving into a completely turnkey property is not in your best interest as an investor, but maybe in your best interest as a homeowner. Imagine if each of these properties was fixed up while you were living there, you could be forcing a lot more appreciation in every property. 

Check out the Wholesaling forum under Real Estate Strategies! On the left side of your screen. 

Welcome to BP! 

Hey Kyle, welcome to BP! I would start off by talking with as many current wholesalers as you can. Once you have figured out the general operations they do, the areas they are struggling in, and the areas they are doing well in, you can find out how you may be able to help them out. Getting in with a good wholesaler from the start can jump-start your own experience as you can build on top of their knowledge. 

Interesting data. Do you think there are any overall drivers behind this decline other than the dramatic increase in rents during the pandemic?

Thanks for the post Logan! I had never thought about this and what an interesting fact. I have to agree a truck is much more versatile.