They are local and knowledgeable.Neil Walter Profile

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $132,000

Cash invested: $6,000

3 bed 2.5 bath 1,350 sqft SFH

EDITED: Mis-typed some info.NOTE: My profile says "Athens, GA" but we live in Lincoln, NE now, which seems like a more affordable market.

I actually ran across your profile not long ago when searching in he's Texas.

I agree with the points you raised especially with regard to the risk profile. 

That being said, go on all the broker sites, JLL, CBRE, Marcus, etc and make a profile, they list all marketed properties online. 

I have had some success on LinkedIn as I assume these owners get a ton of direct mail spam and the messages show my profile and who I am. 

I find his listing on FB says 75k purchase price ok that's fine look at the kids profile he's 18 maybe 19 he has some post about having a brain tumor asking for money....I tell him I want to buy it here is where it gets weird he says he can owner finance it 90k purchase 15k down $1000 a month 0% interest I've never heard of such a thing but the house would rent for 1300 a month not really cash flowing but it would pay itself off in 6 years so seems like a good deal to me.

@Matthew DaveyThe great thing about living in Texas and Florida is that they don't have a state income tax.Your profile suggests that you are a flipper.You should connect with an accountant who is familiar with the qualified business income deduction(199A).

Hi William,Be sure to talk to a few local property managers and ask about the:Vacancy rates in that neighborhood for studio unitsAverage length of stay for residents in studio's; andwhat your possible "Tenant Profile" might be with the units as-is and also with them fixed up.I like the close to a ski resort thing, it might makes the units seem more desirable to some (but not all).Also, be aware that in many areas studio's tend to have more turnover than 2br units (more turn costs) and possibly less financially stable potential renters to choose from than 2brs.Good Luck!