All Forum Posts by: Ben G.

@Jennifer Roberts  @Ashley Mullin 

She will get the @ function down eventually.  Go easy on her!  :)

Once again @Shawn Holsapple comes through in the clutch!

@Stephen Barton great to hear that you are applying what you learned from listening to my podcast episode.  Wholesalers get a bad rap because of the bad apples out there who make us all look bad.

Keep doing what you're doing and you'll begin to stand out above the rest.

I love talking real estate so feel free to give me a call sometime and let's talk!

@Account Closed  I believe that's what he said.  I was surprised too.  

@Aristotle Kumpis any reason you don't want to sell your properties to local investors?

@Marcus H.  don't get caught up with analysis paralysis, which is easy to do with all the information available on BP. That looks like a great deal if it only needs $3,500 in repairs.  Do your due diligence and if everything checks out buy it.  

@Account Closed  my old roommate and I lived in a 2 bedroom at $625 a month on the west side after we graduated college. We felt safe, we went outside at dark.  We were good tenants.  Would this be considered low end being that it was sub $700 rent? I'm not sure, but I didn't care.  I just wanted something I could afford and somewhere I felt safe.

Every neighborhood is unique, it's not enough to go by the age of the house or the rent rate. Also, every tenant is unique, just because a tenant wants to save money on rent and live in a smaller or older home doesn't make them a bad tenant.  

If you do a good job screening tenants, and work with a PM you trust you won't have any issues buying 2 bedroom houses that rent around $600 - $700. If it's a 3 bedroom house and the rent rate is $600, then that's a good indicator that it might be a warzone.

The best advice I can give to you is to determine what you want and how much risk you can handle.  C neighborhoods will offer better cap rates, but higher risk.  B neighborhoods will offer lower cap rates, but less risk.  

With that being said, even the Luxury neighborhoods have tenants that bust things in the house and don't pay their rent on time.

@Chet Hingle  it was a great investment, but can be quite expensive, just make sure you know what you're looking for and what you hope to get out of it before making a investment.

@Ross Denman  welcome to the BP community.  There is a wealth of information hear, and I encourage you to attend one of the local BP meetups that @Taylor Jennings organizes.

I love talking real estate feel free to give me a call sometime!

@Rodney Kuhl  anxious to hear what you did, as I too am in the same boat.  Also, what was the net gain on your decision?

@Jon Holdman I agree a 50% increase is too good to be true, but with that said, he is confident he can sell it for $3,000- $5,000 more without having to do anything to the property.  Maybe clean it up, but that's it.  After doing my due diligence this seems realistic.

I also agree that it's basically transactional funding, but in this case it's going to take longer.

I agree that he's having to do very little, but on the other hand he has invested a lot of time and money into building his buyers list which is one reason he's able to sell it for that price.

Will it cost me money to have me as the documented lender on a deed of trust or mortgage?  Is it standard for him to pay for these fees to have this done?

Looks like a solid deal to me!  Congrats.