All Forum Posts by: Adam Garza

I agree that there should be homes sold in the area. I had my realtor run comps and he said that was all he could find. Maybe I should get a second opinion? 

I need some help determining what the ARV on a home would be without comps. I was only able to find houses sold from the early 90s. Apparently there has not been much sold in that area. On Zillow the Zestimate is not provided nor on the bank home value center. Is there any other way I can determine the value of a home without this information? I appreciate any help provided.

Thanks,

Adam 

I need some help determining what the ARV on a home would be without comps. I was only able to find houses sold from the early 90s. Apparently there has not been much sold in that area. On Zillow the Zestimate is not provided nor on the bank home value center. Is there any other way I can determine the value of a home without this information? I appreciate any help provided.

Thanks,

Adam 

I've barely gotten my feet wet when it comes to REI, but I'd like to begin my career as an investor in rehabs and flips. I have a few questions/concerns before I make my first purchase.

A few things: I've got a partner who is new to this as well but really just wants to be a "silent" partner. We've both decided to put up 20-25k to for our first deal. However, I have a low 600 credit score and I don't think my partner is interested in taking out a mortgage for our first deal. I tell you all of this because I want to be clear about our starting point. 

We've gone to a few auctions and looked at a couple of properties, but I'd like to be confident about our first purchase and could use all the help I can get! 

A few questions: 

- How do we start to build a team and how do I know I'm getting the right contractor? I've heard too many stories about people not getting what they paid for or way over charged on their first deal. 

-In what ways could I return the value to realtors who provide leads from the MLS or comps? I have a few realtor friends but I always feel like I'm bugging them if I ask for info.

-What should our price range be for properties and how much should we invest in rehab? Do you consider who your buyer might be after the repairs? For instance, if we put minimal work, cheap flooring, cabinets, etc in a property, are we only marketing it as an investment rental property? (My mindset is that a new homeowner would want nicer things, so would we want to spend more money on the rehab?)

-What are some ways to "study" our market area? 

-Who has the best information for REO's or pre-foreclosures? Where would I find this information?

I'd appreciate any insight you might offer. I'm excited about the opportunities ahead and hopefully many deals in the future!

Thanks, 

Adam

@Thomas Franklin 

Thanks for the idea. I will definitely use these questions the next time I talk to a new realtor. I appreciate your help!

Hi, I am trying to find an investor friendly realtor that might help access information on MLS in southern Indiana, particularly Clark County. If you or anyone you know might be able to help I would really appreciate it.

Thanks!

-Shane

@Account Closed A: Seller B: Me C: Buyer. I would be using C's capital to finance the deal and some title companies aren't willing to do this. 

I am trying to find an investor friendly title company willing to do double closings; can anyone point me in the right direction? I'd be financing the A-B (seller-me) deal with the B-C (me-buyer) deal and need the title company to be okay with this. Any ideas?

Thanks!

Thank you for the quick responses. I'm currently trying to educate myself to the fullest extent and do some risk assesment. I've read Rich Dad Poor Dad; great book. What I've been told is that wholesaling is a good way to break into the marketplace and has less issues for beginners. Any advice is welcome. Any book recommendations or videos as well. Glad to join the community. 

Greenhorn but wanting to learn as much as possible.