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18 November 2024 | 24 replies
As an investor myself, I need to be creative in sourcing deals so I connect with realtors and contractors who may have access to deals that aren't publicly listed.
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14 November 2024 | 13 replies
You would also need to be at the project site every day watching the work and managing the contractors.
15 November 2024 | 4 replies
Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.
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20 November 2024 | 18 replies
I'm also checking with some contractors and attorneys in my network.
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20 November 2024 | 19 replies
Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.
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14 November 2024 | 6 replies
Then drywalling and everything else can be done by your contractor.
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14 November 2024 | 5 replies
Its all about quality leads, not the tool.This analogy is similar here; a really good contractor can give a better rsult with crapy materials vs a crapy contractor with top materials
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16 November 2024 | 3 replies
You can ask the contractor if he can identify the cause and if so you can bill back the tenant if they are responsible.2.
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14 November 2024 | 0 replies
We bought it with a HELOC on my mom's primary residence for the first $40k, then hired a contractor for demolition and major renovations, did cosmetics ourselves and used more heloc money totaling $60,000. 1 year later we listed it on VRBO and AIRBNB and refinanced the $100000 into a fixed rate mortgage.
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21 November 2024 | 21 replies
It's unreasonable to expect the PM to drive 90 minutes to look at every job before sending a contractor.