All Forum Posts by: Caleb Brown

Tricky part about mold is figuring out it's source. Is the foundation block or need sealing? You'll have to demo that portion where the mold is and go from there. Regarding roof i'd have a roofer go out and see how long they think and go from there. You can always negotiate. Biggest thing is it comes down to numbers and return on whatever needs to be done.

Off to a great start. BRRR will definitely help scale

It's usually an automatic pass if there is no address and it's vague. As far as signing an NDA that's time wasted and I have never seen that for wholesale deals in my area. If you have the relationship with the seller and have the contract in place you should be okay.  There will always be people trying to go to the seller behind your back, relationship is key. 

Alex is spot on^^

Great advice and story!

What's the area like?

It's part of the process, appraisal protects you from overpaying. That sound spot on regarding cost. Did you guys run comps before hand? If you guys were uneasy on price when offering you should have accounted for that before hand.

Could you house hack a multi to start? 3.5% down. After a year move out and repeat. Build capital for a couple years and start BRRRing after the second house hack. Partnering is a possibility. 

Have you thought about partnering with someone, maybe a friend/coworker? You can leverage your experience and already investing. Just make sure everyone is on the same page and legally you have it all set up. 

Also have a trusted team so property manager, agent, contractor, etc. As Julio said run numbers and be smart.