All Forum Posts by: Adam Lacey

20-100 unit value add deals in A/B/C areas. Not afraid of a big rehab.

Hey Justin, thanks for reaching out. A lot has changed since that post. I decided to pivot completely from the wholesale idea as it just wasn't a great fit for me. I still have a W2, but left my engineering design gig and am now doing Project Management and Construction Management for a few local developers. I'm not planning to stay in a W2 for a long time, but for now it's been an enjoyable transition that's allowing me to learn a lot about land development while I grow my RE portfolio on the side.

As you know, I'm still moving forward with my syndication business on the side and hoping to scale that quickly.

Take care.

@Moaaz Malik thats great! House hacking or investing passively in someone else's deal could be an option for you, but if you want to BRRR OOS, find a good agent thats familiar with the strategy and is well connected. Let me know if you're interested in Cincinnati, I have a few contacts there from when I was looking to do the same.

Best of luck to you!

Adam

I'm looking to connect with a real estate agent that recently passed the exam in CO, to hear a little more about the process and where you completed the education classes. Any help would be much appreciated.

Thanks in advance.

Congrats @Justin Goodin! Well deserved. Now on to the next one!

@Osvaldo Benavides get the rent roll and actual P&L. Don't offer based on the brokers expenses.

Take a close look at property taxes and insurance. Both of those expenses could increase greatly after you purchase the property.

@Thomas Willingham sounds like a great opportunity. Congrats!

Also - well played with the Dad joke.

Hi @Tyler Wisner. I do think the 50% rule gets you in the ballpark on most deals and can help weed out the awful ones, but I would suggest really digging into the actual numbers at the property before making an offer. A variance in the expense ratio from 45%-55% could make or break a deal. You don't want to pass up a good one because you overestimated the expenses, but more importantly, you really don't want to buy one that turns out to be a cash-killer because you underestimated expenses.

@Jim K. I immediately pull it apart and do 60 + 15