All Forum Posts by: Brennan Clark

It sounds like you're taking the right steps to get started! Don't get stuck in analysis paralysis though! Start looking at and analyzing deals in the markets you want to target daily, and when you find the right one jump on it! In terms of reading materials I would recommend checking out Buy, Rehab, Rent, Refinance, Repeat by David Greene and The Book on Estimating Rehab Costs by J Scott.

If you have a Buyer Agency Agreement in place you may not have a choice. If not then you need to ask how confident are you in handling a real estate transaction yourself?

You can absolutely be successful investing without an agent, and there are plenty of investors who have been successfully investing for decades without one. However, if you don't have much experience with purchasing real estate, or are unfamiliar with your local area, then it may be beneficial for you to work with an agent regardless of where you are sourcing your deals from.

Your agent should be providing value beyond whatever amount they are charging you, and if they're not it may be time to find someone new to join your team!

Hope it's ok to post this here, I think this property could be an excellent opportunity for an investor ready to apply some elbow grease to increase the value of the property while still being able to walk in to positive cash flow.

https://www.zillow.com/homedetails/2370-Main-St-Clayville-NY...

The building is currently fully occupied as a 4 unit. 3 residential spaces and 1 commercial space rented by the USPS. There is an unfinished space in the back that can be turned into an additional 1 BR 1 BA apartment or office space with the current half bath to turn this in to a 5 unit. The current owner uses the space as his office.

Current rents are $3115/mo ($700 on apt 1, $700 on apt 2, $800 on apt 3, and $915 for the Post Office). All tenants are month to month except for the post office who have a lease expiring next year. They have offered a 5 year lease with two five year options starting at $14,000/yr (approx $1,165/mo) but it would be up to the buyer to negotiate with them.

Current insurance is $1,400/yr, water and sewer is $800, and garbage removal is $400 per the seller.

There is an inspection report available from September to anyone who is interested in getting the dirty details!