All Forum Posts by: Brett McManus

Looks awesome, @Bruce Runn. I believe I have actually walked the dog past this property a few times (if in Seward) and has been amazing to see the progress!

Whether they come after you or not I would be the most concerned with the reputation fallout this could potentially have. You never know how connected individuals are and going behind their back could quickly blacklist you in your local community. That concern alone would have me working directly with the wholesaler to negotiate or move on. 

As someone else in their early 20's, finding a place to House Hack was a great experience for me! Very nice being able to leverage a low DP loan for a duplex that allowed me to dip my toe in with limited liquidity. 

An overall invaluable learning experience that I would highly recommend to any other young investors looking to get started. 

Hey @Skye Penland, there are quite a few different way to go about this. I have been digging into seller financing quite a bit lately and have found that there are some really solid videos on YouTube that explain the concept quite well and the different strategies/ways to pitch. 

I found it much more beneficial to start with videos to gain the overall understanding and return to the forums with specific questions I had. 

Toss this in the BiggerPockets BRRRR calculator. When you select the Rehab tab in the final results page it will give you a calculated figure for holding costs.

@Nancy Carr Apologies! Missed the "Duplex" in your title. That said, I would suggest taking a non-accusation approach to the initial conversation which can serve as a reminder to see if the problem stops. 

@Nancy Carr What type of property in this? Duplex or larger MFH?

I very recently dealt with this myself. Tenants that share an owner occupied duplex with me thought they were being sneaky. Fortunate for me, I reached out letting them know I could smell pot and although I'm not sure if it was them or a neighboring building, reminded them that there was a strict no smoking policy . Stopped the issue in its tracks without too much confrontation (so far...). 

If there are multiple tenants in the building I would suggest reaching out in order to make the problem known without necessarily accusing the subject tenant. Let them know you are actively pursuing the problem and that all tenants are being made aware. This could raise awareness to what they may believe is going unnoticed and stop it without much confrontation. 

Hi @Jonathan Greenfield, I would highly recommend listening in to some of the Rookie Podcasts that BP has. Great way to begin learning about some of the high-level strategies newbie investors are using to get started. Will give you plenty of information & key terms to begin researching!

Hi @Ryan Solomon, it might not be exactly what you were thinking but if you foresee any potential rehab in your future I would highly recommend grabbing Estimated Rehab Costs by J Scott. Very educational on the rehab process and overall a quick, easy, read. 

Agent is the best option for sure but another great tool is using redfin for sold comps. Allows you to adjust sold dates very easily to try and spot the trends you are seeing for valuing properties.