All Forum Posts by: Adrienne Binder

@Michael Plante Analysis paralysis is legit! Lol…

@Michael Plante I’ve mostly researched rental properties in the past and so my search is tailored to those areas that I would want to manage. I’m just recently branching out to the flipping side of things. The only areas that I see single family homes under $80k are in areas I wouldn’t drive through. The townhomes might have potential though. I would definitely need to crunch the numbers and investigate the recent sales in the area to get a better gauge.

@Michael Plante Wow! I hadn’t seen such inexpensive properties before. My search has always been single family homes and I hadn’t included townhomes in the filters settings. This definitely changes the search results. I’ll have to do some more investigation. Thanks for your response.

@Michael Plante Out of curiosity- what market do you find $80k properties in? Do you have a target area that you invest in? We are looking at flipping in the Houston area and I haven’t seen anything near that price range.

@Marcus Long After processing everything this week I do think that we are leaning more towards the passive commercial and/or syndication side of things with a bit of our seed going into flips in our area. As we move forward we are going to be researching projects and specific groups that specialize in this sort of investment. Do you have a website that shows past/future projects?

@Randall Alan

I actually have Rich Dad, Poor Dad sitting on my bookshelf! I’ve read it and I totally get it. I’m a number cruncher and love looking at the possibilities. However, it just doesn’t sit well to have that much debt long term for some reason. Even though I know in my head that the numbers work and the gains could be so much higher and it’s “good” debt. I also play the penny slots when I go to Vegas and only take $20 with me if that explains anything. 😊 Lol…

@Marcus Long I’ll have to check out Flip Hacking Live. I’ve been reading several of the books that I’ve seen suggest on BP and watching some different investors on YouTube but I’m always looking to learn more. I guess everyone starts somewhere but no matter how much I read it seems like there is still so much that I don’t know and I don’t want to think I have it figured out and take a leap in the wrong direction.

Where do you suggest looking into commercial real estate? I like the idea of not having tenants to manage when overseas but haven’t considered that avenue. I’ve seen sites like Fundrise where you can invest passively. Are there other avenues? Maybe look at finding commercial realtors in the area?

Thanks for your response!

@Randall Alan Thanks so much for your response! And congratulations on your successes with your rentals!

I recently met a realtor that works with investors specifically and finds properties to flip. She has a team that will then manage the flip and then we could either sell or rent out the unit. I'm sure we wouldn't make the same if we managed it all ourselves but being novices it might be a good place to start? After processing over the last few days, I have been thinking about starting with a couple of rentals for the income flow (we have two already but want to add two more) and then get one or two flips going and gains there would be future investment into more rentals… I understand on paper you can finance the rentals and make more but it's really hard for me to not have that side of things debt free and just get a loan for the flips and put 20% down for those. The rentals that we target are $165-$170 turn key and return $1150 after all expenses each month. The area is back in my hometown. The area that we want to flip in with this realtor is where we live in the Houston area. My wife and I have good credit, established our LLC almost 2 years ago, have our first two rentals paid for and have this lump sum to invest

… how much do banks lend to people like us? I guess we need to talk to lenders next to get a good gauge on what we can do.

I appreciate your perspective on the wholesaling part and I do think that will probably be off the table.

@Frank Rodrigues and yes, this has been a lot to digest. We are trying to navigate the right strategy before we put any money into one particular direction and it’s been challenging to piece it all together to get the vision to take our next step. I appreciate your help!

@Frank Rodrigues Thanks for the advice! I hadn’t looked into commercial multi units at this point in the process. I was talking with a friend yesterday about how with the changing world amidst COVID that commercial real estate might look a little different with so many companies opting to work from home. What are your thoughts on this? Do you think it will continue to stay strong? I’m a total novice on this but we were just tossing the idea around.