All Forum Posts by: Zachary Zinn

@John K. really appreciate your advice. I plan to learn every nook and cranny of different ways to complete deals. Just looking for a starting point to get going and grow from there. Which I'm working on putting an offer in and duplex I will live in and remodel so the market may of made the choice for me haha.

@Glenn F. is what I'm looking at doing now with a Duplex that just popped up

@Heath Ryans thanks for the advice on the different methods. Right now putting in an offer on a duplex

@Stephanie P. Thank you for the welcome and advice. This is most likely the route I will be taking, while hopefully partnering with others to do other deals at the same time.

Thanks again everyone really means a lot to me.

@Andrew Postell Will do, thanks for the advice.

I'm working on getting into investing but trying to decide the best way to get started that ideally will help me grow and scale the best as well. I've been doing some research I've been doing research on here and connecting with others and have come up with some options.

First a bit about me which may help. I am a certified home inspector for a living so I know the ins and outs of houses, materials, ages of equipment, ect. I'm also very handy and can do a lot of remodeling projects myself and have access to tools to do a majority of them, I'm just not the fastest and only have so much time to do them around work schedule. Currently live with family in which my rent is being maintenance man for the house lol but this is allowing me to save at least 2k a month to be used towards investing. I currently have 6k saved so figure in 10 months will have 26k. 

Options I have learned about, thoughts, and questions

1) Live in flip - low down payment and I can use my remodeling skills, plan to be sell in 1 year, but would I pay capital gains tax? does it have to be 1 year?

2) Live in Multi family - Most likely a duplex based on where Id want to still live, but should be able to cover mortgage and probably fix it up as well with the plan to rent it out completely after 1 year. Figure this I can continue to save and probably do another one of the options.

3) Fix and Flip - Saving up so I have the funds to get a HML in order to complete the flip

4) Turn Key Rental property - Saving up so I have the down payment in order to buy a turn key rental. I want to acquire rentals so I can set up the monthly income stream, but this seems very limiting at the front end as Id sink a lot of money for a slow return.

5) BRRRR - For me this seems like one of the most ideal ways to use saved up money and be able to repeat. Hardest part is finding the deals

6) Partnering - For items 3-5 which can be done at any time of course, which I'm sure will get easier as I gain experience and more connections. 

7) Boots on the Ground Partner - This is something I thought could work well for out of state investors looking to invest in the Hampton Roads VA area. Basically I'd be boots on the ground here, looking at properties, watching over work being completed, providing updates using pics and vids or facetime. With this the partners shares would be modified based on risk. I could also invest some money so Id have "Skin in the Game" as well.

I'm sure I will end up using a mix of these ideas, just looking to get thoughts from others or see what methods others have used to get started and grow. The over all goal of course is to reach financial freedom and do real estate investing full time. But if I can even get to were Id only have to do 4-5 home inspections a week vs 8-10 I'm doing now that is running me ragged would be great.

P.S. Not really interested in doing wholesaling but am working on growing my number of incoming property leads and local connections for whatever I do.

I found a duplex which seems to be a pretty good deal based off of the rough numbers, cost $125k with $428 in cash flow an 18.34 cash on cash ROI. Rent est $850 per side. Property is in good shape with both sides having been remolded within the last 3 years, just likely need a roof in the next few years. These ares just basic numbers and what I could gather from the listing and photos, as I have one big issue and that's the down payment of approx $38k.

So my question is, would this be something a partner with the money for the down payment be interested in? I have some I could put down and the % of the cash flow and equity could be modified as needed. So looking for thoughts. 

PS house hacking isn't an option as its to far away from work for me to live there.

I am looking for property leads in the Hampton Roads area. Primarily looking for Rehab properties, but also interested in Buy and Hold.

Any wholesalers are welcome to add me to their lists.

 Hey James, really appreciate your insight. Maybe what I really need right now is more like Mentor I can learn from and in time do a deal or two with. 

I was wondering what other would look for in a partner, or what you would look for in an offer to do a JV. My main strategy is Fix and Flip, but also watch for good BRRRR properties and want to get into Buy and Hold on Multi Family.

My main issue currently is having the capital for the upfront costs, I continue to save so one day wont be an issue but could get started sooner if working with a partner. Second issue I'm working to improve on is just finding a deal, continue to learn and try to add more lead generation beyond just the MLS, so one day finding a deal shouldn't be an issue.

What I do currently have to offer is my expertise about home condition and potential issues. My day job is a home inspector so I see a lot of properties and know a lot of the issues that I will typically find in different homes based on their age, style, location, ect. Also I inspect a lot of flip properties so I know what people expect to find and want in a home.

So if anyone has any suggestions or tips on what they would look for in a partner, or what I could do to become a better partner candidate Id really appreciate it. Also if anyone would like to connect so we can maybe partner in the future.

@Kevin Sack congrats on your Portsmouth deal! I'm getting ready to go pro mostly so can get the calculators but also for all the webinars. 

Looking to see if any one has recommendations in for General Contractors in the Hampton Roads areas. Including Virginia Beach, Norfolk, Chesapeake, and Portsmouth. 

Thanks!

@Jack Butala thank you! I'm excited for sure.

@Jonathan New oh wow nice! Hope both continue to go smoothly for you. I'm looking forward to meeting with many of the locals.