All Forum Posts by: Brian Rosher

Hi Josh, I have not, but I've seen the tax foreclosed properties listed on http://www.collarcityauctions.com/.

Hi Erik,

What are your goals for investing?  Perhaps you can use your skills as a leg up to look for deals where subdivision or a change in use can increase value.

Brian

You might have better luck getting someone out to bid once you at least have it under contract. Contractors don't want to waste time doing a bid which will take them several hours on a house you may or may not buy. Good contractors are busy and good MLS deals go too fast to get formal bids. I would start watching @Mark Ferguson InvestFourMore videos on YouTube and pick up @J Scott book on estimating rehabs in the BP store. Both of these helped me before jumping in on my first BRRRR. If you have any specific questions on Albany area shoot me a PM.

Can you really build a new construction home for cheaper than an existing home in your market?  Usually it is the other way around.

If you can "house hack" a 2-4 unit home and move every few years, that is the way to go.  You will benefit from buying properties with less money down and at owner occupied rates.  Just make sure they cash flow after you move out.

There are also programs like 203k and Fannie Mae "First Look" which are only available to owner occupants that you could take advantage of.

Hi Joshua,  I think the best thing you can do is to have the electrician provide a cost to update the electrical and make it safe.  You'll need to account for any cosmetic repairs if walls need to be opened up.  Then go back to the sellers and negotiate as much of the repair off the price as possible.

https://www.nachi.org/aluminum-wiring.htm 

Consulting is not that same as W2 salary.  If I only needed 1 hours advise I'd rather pay the $350 than 3%.  

What lender is giving you 10% down on an single family investment property?

You may want to look for a single family that needs work. The smaller down payment will leave you with more money for repairs. Then you can refinance and pull out your equity to get another one. Just need to make sure you get a good enough deal on the purchase. Plenty of info on the BRRRR method on here. As you noted you are not going to have massive cash flow from a single family.

Hi Chris,

What city are you moving to?  Upstate is a big place and each market is unique. Good luck with the move.

@Greg Myroth Their e-mail support did eventually offer to send me a Verizon base station, I guess the standard is on T-mobile.  My house was in the best coverage according to T-mobile maps.  Hold times were 20-30 minutes for support over several attempts.  Hours wasted mounting and on hold, I decided to just return it.  You have to call to return as well and waste more time on hold.  

Had really high hopes, but it didn't work for me.

I agree with @Adam Clark if you actually look at the address its a cool spot.  Across from a park, view of an old church, walk to theatre and downtown.  There are two vacant lots next door which could be part of the plan.

Street View: https://goo.gl/maps/bP6pFbMB8Ur

Someone thinks they can make money here: 

https://www.bizjournals.com/albany/news/2018/01/17...

Has anyone seen the list of 1000 vacant properties, I couldn't find it online yet?