All Forum Posts by: Caleb Brown

If the numbers still make sense it's not terrible to do. If you are not local then it's more moving parts. When you do the work hire a structural engineer and do the work recommended. Have a warranty to protect yourself, reputable companies always offer that. 

I would walk, make sure you stay within your timeframe. Seller can't negate the contract, he can be angry but if you are within the contingencies you are fine. Live termites is something that is hard to get a good idea until you start in on the project. Mix in the improper repairs I would be concerned. 

Both are great. If you have the bandwidth I would lean towards 2. This is a faster way to build your portfolio. Main risk is rehab going over or low appraisal so make sure you do the current due diligence. 1 is not a bad thing but a slower way to go. 

Agree with Ned. I would not use the HELOC on a property you are not able to pay that back. If it was cash that you had then it's different. To me it's over leveraging for a couple hundred in "cash flow". I would rather use the HELOC on a deal you can pull the money out and pay that back.

I have a couple go to GCs that'll walk during the inspection. I estimate rehab beforehand then verify during. 

Sit down with GCs, see if you can pay them for reviewing scopes of work. That would be a hard ask so the other option is analyze deals then pay GCs to walk before offering. You need to see actual scopes not broad estimates. In my area it's a few hundred bucks to pay a GC

Not everything you see is worth doing or asking about....

I wouldn't. I use Chatgpt or Grok. No need to add more AI apps when they do the same thing as what you described. 

Real estate license course is just to pass the exam. It barely teaches you anything about investing or the real estate world. Being an agent is something many do but you are starting a business from scratch. It takes time and work to get it off the ground. As you do deals you will learn but it's not something I would recommend with everyone. In your situation I would try a house hack. Speak to lenders/agents and get into a deal using a owner occupant loan. This will give you a taste. I would also network, attend local meet ups. This will help you learn an be surrounded by others who are where you are at or past you. 

Water, electricity, gas are tenant(unless utilities aren't separate or a voucher program). For single families lawn is usually taken care of by the tenant, I would have language in the lease. HOA is landlord(I'd avoid HOAs)