All Forum Posts by: Account Closed

@Nick Rutkowski you really took that much time out of your day just to be a douche? Writing this **** isn't what I like to do but when 99% of podcasts say to get in the forums etc... Thanks for the **** head response-it's encouraging!

If one were to have 6 figure equity, not many ties, other than family, to current location, some handyman type qualities, some real estate knowledge... Where would you choose to relocate for good investment opportunity? Not one to invest from afar, and like the idea of live in flip/live in brrrrr

Shortened edited version. What's your take on when to evaluate the ARV? Assumed future value or at time of purchase? 

read original novel below if you want to bore yourself with my extreme wordiness

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Other than 2 profitable personal residence purchases, I'm an investor virgin trying to better understand the "rules of thumb" for future opportunities. I get the basics but I think I'm looking for the outside the box response maybe-or maybe some further discussion/your personal approach at it... 

I'm a relatively new agent in the upper midwest(SD) and knowing the market takes a severe turn during the holidays and winter, as well as heavily climbing price increase over the last few years (which I can't see sustaining=future post/question). 

***here's the question*** Sooo, in my situation if I were to try to do most of the rehab myself(not very e-myth'ish of me...but for more of the hands on "experience") knowing it will take extra time, in your opinion is the 70% rule safe for $150-225k priced SFR(assuming it's a good property) for a live in flip,  in a possible plateau'ing (or worse) market?

      -That price range would knock out the 1% rule for a rental in my area(unless a unicorn duplex pops up) and that price range would range from a 3/2/1 to 4/2/2 roughly

Looking for some insight from more knowledgeable seasoned investors. I intend on asking another question/post about market history and what causes a "buble to pop" as well as the aftermath when a market sees such price increase in such short amount of time; which I hope to piece a good strategy together from. If you've made it this far-sorry for all the shift+_'s (()/"")

@Dominique M. Conwell zestimate is an algorithm that evaluates off certain criteria-a human set of eyes has not been set on the property... It may not know that it's multi-family, it may not factor the rare million dollar properties 2 blocks away or alternatively thousand dollar properties-it uses averages without a personal fine tuning touch. Depending on your area a cma may be difficult so the right lender and appraiser might be your best shot for the do diligence but appraisal will obviously cost. But go prepared with rent rolls/financials

I have an interest in a building between commercial/industrial and R1/R2 residential. The building I am interested in is zoned "warehouse" or light industrial...I would like it converted to mixed use(?)-Home on the top and a shop on the bottom. 

I have no interest in the condition as it sits so would need this to be rezoned before moving on it. It's overpriced right now and have not contacted the listing agent as those are 2 big hurdles... before doing so, I am just curious if any of you have negotiated on a building with a rezoning contingency and how long it may have taken if so? (I get that every city is different and no planning and zoning personnel are probably very pleasant to deal with)

If I could not attend a first time buyer's inspection on an iffy house I would most likely trade in a favor for another agent to be there, for questions for my buyer's, or to give me feedback...our market's "first time homes" are getting higher and higher priced = lesser and lesser affordable homes... fully believe it's our fiduciary responsiblity to help our clients in foreign territory!

I've attended every inspection inspection except for one that I was unable to make but spoke with the inspector (and client) throughout and said it was the cleanest inspection he has done-which was what we were expecting(on a well maintained home).