All Forum Posts by: Caleb Brown

I advise my clients in this hot market to offer strong to nab it. If there are no offers and you can negotiate do it. But if you do offer lower than list you open the door to someone else taking the deal then you'll be 0/3. Get a feeler from the agent, see if they can chat with the listing agent and go from there. If the agent is familiar with investors he'll be able to advise you on best solution. 

In my market you don't have to rezone just to rent out the 2 separate areas. The only bad thing is utilities would have to be under you not tenants. So technically it would stay as a SFH but you'd rent out both units. When you go to sell it it would be a SFH. Now I don't know how different it is in the market you are looking in if this is possible.

Why not use it as a downpayment for multi? You can also partner with someone and find a BRRR under 100K. 50K BRRR might be a pretty rough area in most markets.

Why would you want to convert? It typically is expensive and not worth it. Would you have to cover utilities? 

1- Biggest thing to sellers is how much they'll net after proceeds or offer price, short close, As Is, higher EMD, etc.

2- Depends on where the deal is.  Having a local team would help with that.

3- Have an agent run comps, talk with a PM and run numbers. 

KC, Indy, or Cleveland are the strongest for Midwest BRRR's

If it was me down payment on a MFH

@Weng L.

Yes you can do it remotely. The biggest thing is you need to find and interview people to help you. Many sharks out there so vetting and asking questions is crucial. Once you have the team set up it’s smooth

Have you looked OOS? Midwest markets you can find SFH to purchase 50K-80K and do the BRRR while being all in 70%-80% of ARV. Rent on these types of properties are 950+ on the low end.

I would BRRR, buy a few SFH or purchase a MFH.