@Nate McCarthy I think this could be a great opportunity if approached thoughtfully.

I’ve been exploring buy and hold opportunities in my area, and I recently came across a situation I’d like some advice on.I’ve come across a property in my area that I’m very interested in, but I want to make sure I approach the situation the right way.

My approach is to take a few minutes per quarter and make sure it is accurate by manually checking my true competition and adjustmenting prices accordingly. 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

As both a real estate professional and property owner, I bring a unique perspective to the investment landscape in our growing metroplex.My Investment Focus:- Rental property acquisition and optimization- Value-add opportunities in emerging DFW submarkets- Long-term wealth building through real estate- Professional property management and tenant retentionWhat Sets Me Apart:- Dual expertise as realtor and investor provides enhanced market insights- Faith-based approach to business relationships- Strong commitment to property management excellence- Focus on win-win scenarios for investors and tenantsCurrent Objectives:1.

As both a real estate professional and property owner, I bring a unique perspective to the investment landscape in our growing metroplex.My Investment Focus:- Rental property acquisition and optimization- Value-add opportunities in emerging DFW submarkets- Long-term wealth building through real estate- Professional property management and tenant retentionWhat Sets Me Apart:- Dual expertise as realtor and investor provides enhanced market insights- Faith-based approach to business relationships- Strong commitment to property management excellence- Focus on win-win scenarios for investors and tenantsCurrent Objectives:1.

McElhannon: I'm curious on peoples go to approach to secure financing for an investment property - use a broker? 

I did find this deal driving driving for dollars, the realtor of the property was adding his sign in the front yard, I approached to make and offer. we close in 3 weeks.

@William Bohan, Yeah, being a CA resident you'll have to do a 1031 exchange or your tax will approach 40%. 

Borrowed money from friends and family to pay cash for the property as the bank would not finance it until it had been remodeled, made livable, and brought up to code.