All Forum Posts by: Brandon Clark

Is this issue worth getting a RE license just to have the MLS?

Hey BP,

I've been blowing the site up this week getting as much info as I can handle. So I thank you guys in advance. 

I'm having a hard time finding ways to to get comps on houses that I'm looking in to. Obviously I can use my real estate agent but instead of always waiting for her, I was wondering if there is a way I can search on my own. I've used homes.com, and  Zillow but I don't feel as if these are acurate. I'm in the New Orleans area trying to learn the neighborhoods so I can select my target areas.

Thanks in advance

-Brandon

Hey @Amber Walker,

I think my investing partner and I will be looking for a wholesaler in New Orleans in the near future. We're just starting out and getting ready to build a team to help us flip some houses quick, efficiently and effectively to make nice profits.

Thanks again! @Mike Wood Any local banks you recommend?

Thanks @Jasmyne M. 

From the bottom of the booth to the top!

Thank for the reply @Brit Foshee,

So if I wanted to rehab a flip property it would be easier to get a commercial loan? Will me using the property for income investment change anything? Seems as if you're telling me it doesn't matter but it matters if the property needs work. Is that correct?

Hey BP,

I have a friend (real estate agent/invester ) that recommended that I looked into getting a commercial loan. She is currently using this type of loan to flip a house as we speak. Is there a good reason why I would use this over any other type of loan? This would be my 1st property (flip). It would be a single family home or multi family home in New Orleans that's worth no more than $130k. I'm not sure if I'm missing something but thanks in advance.

- Brandon

Hey Guys, 

I've been reading some of the tips that the real estate guru @Brandon Turner has been giving and one of them is the 2% rule (The 2% rule states that your monthly rent should be approximately 2% of the purchase price. In other words, a $100,000 home should rent for $2,000 per month; a $50,000 home should rent for $1,000 per month).

I'm planning on investing in my 1st B&H duplex property within the next 3 months and I've been looking at property's and this rule seems almost impossible. Is there a certain type of property that I should be looking for? A fixer-upper, nice area, turn key...? How close do I really need to get to 2% to actually feel comfortable with a purchase?

Thanks in advance

-Brandon

Thanks everyone! I meet with my lender Friday so hopefully I can get the home appraised to see what's my next move. 

Thanks @Michael S.. Biggerpockets is great so far!