All Forum Posts by: Brandon M.

Tom Conant I would be glad to give you some assistance, I am an investor and an agent in the area. Feel free to shoot me a PM

Lucas LeBlanc I have a good one I use, I will send you his info in a PM.

Hey @Tabia Augustin, I am a full time investor and agent in the area. I wouldn't mind answering questions you have, feel free to drop me a PM and I would be glad to share my knowledge/experience/successes/failures that I have learned over the years. 

I have a guy I use as well, a good personal friend who works at a family owned insurance company, I have referred him to 10+ people on here and all have given him high recommendations as well. Send me a PM if you want his info

@Amir Judge- Jason mentioned some of the good questions to know. 

1. What is the house currently worth as is? What is the potential value of the house if it were fixed up? 

2. What is the current condition of the house? Does it need any work? 

3. If it does need work, can you do it yourself? Do you know someone who can? 

4.  What is your goal with it? Move into it, rent it out, fix it up and resell it? 

5. How can you pay for it? Can you/do you want to get a loan for it? (not a lot of banks will want to lend that small of an amount). Do you know anyone who would loan you money? How much can you put in yourself? 

6. What would it rent for? 

A 3/1 for $25,000 likely means it isn't in the greatest of neighborhoods, sounds like Sulphur Springs or Ybor or East Tampa if I had to guess. 

If you want to speak more in private send me a PM. I do a lot of what I mentioned above full time, some combination of agent work, rehabbing, finding private money, investing on my own. I don't mind giving you some input/opinions as someone with experience. 

Good luck with it, it sounds like you have a good head start finding an opportunity where you can help yourself by helping someone else. 

Maricruz M. I have a good one I use for all of my HVAC needs, send me a PM and I can share his info

Jeremy Ogle I have someone I can recommend that I use for all of my stuff. He is in Clearwater but is very knowledgeable with everything relating to the investing side of real estate. Send me a PM and I can share his info, don't want to post it here.

None of those things require a GC, only a licensed HVAC person. Have you tried a reliable handyman for the other things besides the HVAC? My handymen are good enough to do all of the other things you mentioned, I just don't offer to introduce them to other investors because I like them doing my work on a timely basis.

TJ, I am surprised no one else has spoken up yet but I will give my 2 cents. Personally I would PASS on that deal, you are leaving yourself ZERO room for error. Not sure how much your "friend" is looking to make off this deal but they are likely taking all of the margin for error you have. If your contractor could GUARANTEE that you would only spend $35k and not a penny more, then okay maybe. But good luck with that. Things come up, some new expenses are not accounted for, and before you know it the $35k rehab ends up being $45k. 

So let's say it ends up at $45k, and you sell it at $215k on your own and only have to pay a buyer's agent (no listing agent). 

$215k sale price

 - $186k purchase and rehab

- $3000 closing fees paid for by the seller

- $5000 in realtor commissions (even if you just pay 2.5%)

Leaves you $20k profit, but BEFORE you take into account the cost of the $186k you need to purchase and rehab it. 

And what happens if your best offer is only $210k? Or if it takes longer to sell than expected (meaning your holding costs are higher than expected)? 

Just my input, not sure you will find a lender/partner open to terms that slim. Too many things that you have to have best case scenario happen for anyone (other than the wholesaler) to make any money. 

Don't pay for a guru/mentor/class. If you want to pay for something, find someone more successful than you, someone doing what you want to be doing, and pay for their lunch or drink. Pick their brain. Ask if you can follow them around one day to their job sites, picking up materials, whatever. Just associate yourself with people more successful than you and figure out how they are doing what they are doing. 

Just don't waste your money on some guru/class. Think about it, why are they selling classes and not out making money doing the actual investing? They are better at selling classes than they are at investing.