All Forum Posts by: Andrew Angerer

Real estate agents and wholesalers are kind of the same thing, and if you go through a real estate agent to find your properties for wholesale  you probably won't make any money. 

Basically, wholesalers find properties for cheap and then find people with money to buy them. Real estate agents do the same but have to disclose certain things to the buyer, by law. Essentially your plan would end up having two "middle men" and the property would cost more since both of you would want some money. 

The best thing you can do for wholesaling starting off, is driving for dollars. Simply drive around your town and look for properties with; tall lawns, closed/boarded windows, for sale by owner signs. These are signs that the owner is in a position to want to sell desperately and that is where you move in, offer them a low but fair price (usually you need cash upfront to make this work). 

You will get many many many people that say no, but maybe 1 in a 100 will say yes, so keep at it and you will start making money!

Best of luck

Wow very interesting, to be honest, I wouldn't fight this unless you have a good reason, like the cameras are gaudy. I would assume most tenants that want cameras would sue you to get them installed, so the fact that they spent their own money is surprising. 

If they are good tenants that pay on time, something this small (which is actually making your property look safer/better) shouldn't be an issue.  

 I would say in the future take a good look at your contract with new tenants, I know from experience that bad contracts can lead to many issues.

All the best,

Andrew

There is no reason why you can't do both, I still work my W2 job while putting many hours into real estate investing.  It helps having some money (although low and no money down techniques work sometimes) but being able to prove to a bank that you have income is sometimes all you need for getting a loan. 

As far as cutting yourself short, that's only  for you to decide on, don't let anyone influence you to think that you are not going on the right path. Having passive income trumps working 9-5 any day of the week. 

Best of luck!

I had a similar case with tenants and fleas, the best way to prevent this is a good contract strictly stating that you will do the inspections for pests but they must pay if there needs to be any action taken.

As far as your situation goes, has this tenant always paid on time and has no other problems? If so, I would say hold on and pay for this, once, but make sure they are aware of the consequences in the future if problems come back.

If this person is already a hassle and known for paying late/ having excuses, its better to cut your losses and start looking for a new tenant before you lose too much money

Hey everyone,

   I would like to suggest to newer members, a specific chapter of a book for anyone who is unsure about how to vet a property to find out if it is cash flowing or not. This would be a perfect read while you are snowed in today if you live in the mid-west. I have come back to this chapter several times to make sure that I understand how determining multi family pricing works.  If you have the chance pick up the book ABC's of real estate investing by Ken McElroy I encourage you to do so. Chapter seven I believe is the most info packed part of the book and I highly recommend it along with the entire book. 

I have also created a simple calculator based on the chapter, if you are interested you can pm me and I will share it with you.

All the best,

Andrew Angerer

 Hey Greg, click the blue link that says view report.

What is your goal in real estate? Also, you put zero for repairs, are you 100% sure that there is nothing that needs to be fixed?

I like to look for properties that need some value add improvements, even if its just landscaping that can increase the value by a ton and help you with the BRRRR method.

All the best,

Andrew 

Welcome to the forums and thanks for giving us your specific situation instead of just asking for help. It sounds like you are in a decent place with your money so you have a heads up already in investing.  Some advice about the market, it don't try to beat it, real estate should be a very long term investment and if you hold a property long enough it will rough out an losses that the market will take from it.

Regarding your two options, neither are bad ideas but it is all about the execution, be sure to do your due diligence and have a strong team to support you, when you finally pull the trigger. Personally I believe you should go with the duplex house hack only because I think the new generations want to be more mobile and duplexes cater more to that, rent it out and keep the rents around market price and you should be good.

PM me if you have more questions. 

All the best,

Andrew Angerer

I have spoken with https://www.biggerpockets.com/users/JustinF152 Justin Frytz not too long ago, very professional and courteous. 

congrats on the purchase, do you have any pictures??