All Forum Posts by: Brett Read

Hi BP!

I'm looking for some advice on how many analytical scenarios I should consider and which scenarios should hold the most weight. 

I am currently analyzing deals in Providence, RI and I will be using a FHA 3.5% down loan product and owner occupying.

With such a low down payment and only collecting rents from 2 out of 3 units since I will be occupying one, the numbers are a bit skewed. Essentially every deal I analyze has low or negative cash flow. So I started running the numbers with different scenarios: not owner ouccpied, 20% down, current rents, market rents, etc.

My question is, how should I be looking at these numbers and which scenario should hold the most weight? 

Hi Matt,

Congrats on graduating! As a relatively new graduate myself I know how great of an accomplishment that is. I am a realtor and aspiring investor in the providence area. I'm certainly no expert but would love to share my knowledge over a cup of coffee. Send me a message and we can exchange contact info. You definitely have the right idea in trying to find a mentor and connect with other like minded people. Good luck on your investing endeavors!

I agree with Robert. Attending the RI REI is very informative and a phenomenal venue for networking. There you can gather the tools to avoid paying too much for the over priced properties on the market that Robert mentioned.

Hey Alex,

Unfortunately, they suspended new applications for the ocean state grad grant in September. I was hoping to take advantage of that as well and was disappointed in finding out about this news. Also, I'm confident you can find deals that have much better cash flow. If you want to call or email me I can help you analyze deals with more precision as well. Using a rule of thumb like the 50% rule is useful for quickly analyzing a deal but a full analysis can be a lot more detailed. Message me or see my profile for my contact info. I look forward to hearing from you! 

Hi Eric! I can confirm that your thoughts on Anthony are warranted. He's very knowledgable and has given me some great insight. I am an aspiring investor and investor focused agent. Let's talk soon about how we can help one another! I sent you a colleague request with my contact info. I look forward to hearing from you.

thanks for the tips! 

Hey BP!

I am an agent (and investor) in Rhode Island. I have a client who needs a very specific type of building. He sells classic cars and needs a 20,000+ sq ft building to store his inventory in or near Smithfield Rhode Island. I began to search the MLS and have sent him some properties close to his specifications. He replied with "I know everything that's out there. Find me something I haven't seen." Now I'm thinking my only option is to find an off market deal. Can anyone help me with strategies on finding off market deals? Obviously I will be tapping into my network but what other options do I have? I'm thinking of "driving for dollars" as an option. Can anyone give me tips on driving for dollars?

Any tips or suggestions would be GREATLY appreciated. This is a cash buyer with NO budget.

good idea Elizabeth. If you're interested in meeting send me your number in a private message and we can start working on times/dates

How about a tentative plan to meet on Thursday August 4th somewhere in Providence. I'm assuming that will be a good central location. We can confirm early next week. Not sure what the rules are for putting contact info on the forums but I think it might be best to start a text group chat if everyone has iPhones 

what day works for everyone to grab coffee?