All Forum Posts by: Brant Ingalls

Lou,

Thanks for the response. What I meant about using wholesaling techniques is, direct mail, or a web site to attract sellers and find deals, outside of the MLS. I would not be opposed buying from a wholesaler.

My goal is to have buy and hold properties with little to nothing invested. Here's an example of what I'm thinking. Purchase a house for $50,000 and then put $20,000 in rehab. Then let's say the ARV is $100,000. Could I go to a bank and get a heloc for up to 80% of the appraised value. Get it rented so it will cover expenses and produce some positive cash flow. If I could do that I would essentially have free houses with a pretty good return on investment. I know there are several different strategies and I am open to them all.

Hello BP,

I am a few months away from being in a position to focus more on real estate investing, and I would appreciate some advice on strategies from people with more experience.  I currently have 3 rental properties.  I am preparing one property to sell this summer.  Previously I have purchased my properties with traditional financing 20% down.  

I am strongly considering a strategy change.  Once I sell my property I should have about $80,000.  I would like to use some wholesaling techniques to acquire a distressed property with cash. Then I would fix it up and take a home equity loan against it for the amount I have invested.  I would then rent it and try to do it all over again.  

Is there anybody out there doing this that could offer any advice?  

Thanks,

Brant Ingalls

Quintin,

Currently I personally invest in single family homes. I do this because they are what I'm most familiar and comfortable with. The down payment is lower and they are easy to rent for a good cash flow. The property management company that I work for is Matik Management. We manage several 2-4plexes they are also very easy to rent. The best way to search for them is if you have a smart phone or tablet download the app Realtor.com and set up a search for multifamily homes. I just did a quick search and there are currently about 20 multifamily homes on the market in Rochester. If you are interested I could set up with MLS email alerts that will update you on any changes in the market for your specific criteria. It will notify you of any new properties and price changes. Let me know if I can be of any more help. Rochester is a very unique market with lots of opportunities for long term investments.

Brant

Yeah, lunch would be great. I'm free most days, so just give me some times that work for you in my inbox and we can get together.

I just saw your post. I am born and raised in Rochester. I currently work for a local property management company as a leasing agent so I'm very familiar with the rental market. I also have my real estate license. Rochester is an excellent place to invest! Every year as you know the Mayo Clinic brings in 3,000-4,000 residents that stay for 3 to 4 years. So there is a high demand for rental properties. This drives up the rental prices and almost eliminates vacancies if timed correctly. I currently own 4 rentals and the passive cash flow is pretty nice. If you have any questions or if I could be of any assistance I would love to help.

Erik

I just saw your post. I am born and raised in Rochester. I currently work for a local property management company as a leasing agent so I'm very familiar with the rental market. I also have my real estate license. Rochester is an excellent place to invest! Every year as you know the Mayo Clinic brings in 3,000-4,000 residents that stay for 3 to 4 years. So there is a high demand for rental properties. This drives up the rental prices and almost eliminates vacancies if timed correctly. I currently own 4 rentals and the passive cash flow is pretty nice. If you have any questions or if I could be of any assistance I would love to help.

Thanks,

Brant

@Quintin F. I just saw your post from a few months back. I currently live in Rochester I work for a property management company as a listing agent and I have my real estate license. If you have any questions I would love to help.

Brant

Timothy

That would be great. Thursdays work best for me

Hey Timothy,

I too live in Rochester. I am also focusing on buy and hold in order to free up time for my family. I currently have a few single family homes. I also work for a local property management company and have my realtors license. Rochester is a great market to invest in with the Mayo Clinic. If I can be of any service I would love to help.

Does anyone know if there is a step by step wholesaling blog out there? I know I saw one on here at one point but I can't seem to find it again.