Wanted to ask the experienced guy's here what do you usually do when purchasing a property that is mostly occupied but looking to do a value add to increase rents?

Advice: build a relationship with an experienced property manager if you can. 

There are things to watch out in the local area that will work much better with an experienced agent...so wait until you get there. 

@Adam Elbary If they are signing on the loan, they would be considered a co-borrower because they would be on the hook for the loan as well and it would allow you claim to be an experienced investor as a team.

I'm looking to get my first rental in the DFW area and have been looking for some contractors in the area who are investor-friendly and complete the work in a timely manner, even more with some of the shortages we are experiencing.

hi all,I'm starting to look into my next deal and i want this one to be a SFH. so far I've done only condos (2) and I have done all the work myself (minus electrical).my question to you experienced contractors and developers is, how much will it cost to turn something like this (only exterior work)to something like thesei understand there are many variables, i'm just looking for a rough number, 10s?

@Jeremy KerrProps for stepping out of your comfort zone.To be honest, your worth in this particular deal is whatever the experienced large scale investor thinks it is (assuming you have no finder’s fee written contract in place.)Ballpark estimate in my opinion is that finding the deal might be worth 5% to 10% of the deal pending structure of the deal.If the large scale investor is a person of character and integrity, he should provide some form of compensation given your relationship with this person.My suggestion would be to not focus on the compensation per se but try to learn as much as you can from this person during the evaluation of the deal.

That's not a good feeling, and most people and REI have experienced it in one way or another.I think you should try to combine both options 1 and 2.

Snowed in this morning, I'm sure you're experiencing the same.

So my recommendation for you: learn and lean on experienced-others for advice, but know you have to make the plunge at some point and that you will likely not hit a homerun but rather experience an intense learning opportunity.