Sweet deal!

Hi Ryan, I would keep it short and sweet, if they are calling you they probably already know that info because it should be on your mailers already, I am assuming?

I could see doing so if you had cash available so that having your EMD wouldn't hinder you from making an offer on a non-pending deal AND it was an extra sweet deal.

But the 20k to have for my next deal would be sweet too.

Are you possibly looking for a Sweet fixxer upper deal where you could live and build 'sweat equity'?

You said you want to buy a distressed property through a realtor, then rehab it yourself and turn it into a rental.Most distressed properties on the MLS are gone quickly if they are really a deal at all, so unless your realtor has some sweet inside info (pending divorce, bankruptcy, etc) you may not have much luck there.

Many great property management groups do not like buildings that small (whereas a 60 unit may or may not fit into their "sweet spot.") 

I'm looking for some help on the numbers.This would be my first BRRRR deal so kind of nervous.Purchase price $281KClosing costs (Attorney fee 995 +inspection 600 +survey 250) = 1845Total = 282,845Rent estimate = $2400Prop mgmt = 230 (10%)Tenant turnover = 110 (5%)Prop maintenance = 110 (5%)Capex = 110 (5%)Tax = $350Ins = $100 (guestimate)Reno budget = $25KARV = $330KRefinance: P+I = $1275 (70% refi)Prop mgmt = 230 (10%)Tenant turnover = 110 (5%)Prop maintenance = 110 (5%)Capex = 110 (5%)Tax = $350Ins = $100 (guestimate)Net = 2400-2285 = $115 /mo.I know it's not a lot of cashflow, but A class neighborhood and potential equity make it a sweet deal.

Sooo many people all within an hour drive radius (depending where you live), plus the rents are in the Grant Cardone sweet spot of $800-$1200.

However, rent collection protocol – just how to collect that sweet, sweet nectar!