All Forum Posts by: Billy Daniel

Being a realtor, I'm biased.  It can certainly be done without a realtor, but I wouldn't recommend that for a first-time home buyer.  Here are some things a realtor would help you with:

Fair market value:  Are you overpaying for the house?  A good realtor will help you determine what a fair price is based on location, condition, age, layout, etc...  This can come in handy when your bank sends their appraiser

Contacts for lending, inspections, and renovations: Realtors work with these people all the time.  They know the ones who provide good value and those that don't.

Survey and title work hiccups:  Realtors often fall victim to the "they just want their commission check" stereotype.  However, my experience is that everyone involved can act this way.  I've had to save my clients from title companies who just wanted to get to closing.

In summary, yes you can absolutely do this without a realtor, but I don't recommend it for a first time home buyer!  Good luck!

@Allan C. that was my thought.  If it's this big in these forums, the good deals are likely long gone.  I'm sure there are some scattered here and there, but the hype has no doubt driven demand for the area way up (along with prices).

It's odd that it's fallen out of contract twice due to inspections but the 2 inspection reports you have don't show anything major.  Is there some part of the story missing?  I can understand the seller not wanting to disturb the tenants, but I wouldn't buy without my own inspection....

Buy a small multifamily and house hack until you save for the next one!  

I would just tell them that I can't hold it if another qualified tenant comes along.  Don't take any money, just continue to market the property.  If they are very well qualified, maybe I would hold it.  I still wouldn't collect any money without a signed lease.

It really depends on your goals.  Your first one will be just as much about education and experience as it is about money.  Our last flip netted around $15k and took around 4 months.  We are also fairly experienced.  Define your goals and then go for it!

It seems that every time someone posts about where to invest, the floodgates open and the Ohio investors overrun the discussion.  Have I missed something in the last few months?  Why is it so trendy right now?

I want to be a fly on the wall when this guy gets audited...

I would have the hook-ups available for the tenants, but not provide the machines.  No ability to do their own laundry could result in fewer lease renewals.

Congrats!  That's great!  I have family in north Texas, so I've seen the explosion over the last several years!