All Forum Posts by: Caleb Brown

What's your end goal in REI? Have you thought about wholesaling, being an agent, interning, construction, etc? I would listen and learn as much as you can. Time is on your side.

You can buy now but be conservative in your numbers. There is always a reason to not buy. Obviously now there is uncertainty but if number work and it cash flows you'll be okay. Also have reserves and don't over extend yourself.

Yeah for 2% you'd be in C-/D areas. Especially in Texas/Florida where it's booming. Midwest has some cities that might hit. If you are out state i'd recommend investing in C/B areas with around 1% COC. Don't only eye the return when you are long distance. Locally is a different story you can be in the rougher areas.

They'll be hit hard for the rest of the year into next year

From your second comment it seems priced high at 214K. Yes it is newer by 20 years but the neighborhood is either homes in 50's/60's/70's or it's new builds. New construction will not be similar so buyers would look at the homes older for comparables. Value wise if you had it 200K/205K it'd sell quickly, with a possibility of a bidding war. It doesn't sound updated either so won't sell above 220K since fully updated homes sell for 220K-235K. If you had updated appliances or HVAC then 210K at the high end. 

Never tell anyone how much you have to spend when initially speaking with people. If you are completely NEW then learn and intern for awhile. Since this money is out of no where you don't have to invest ASAP. Find the opportunity or strategy that fits you and learn about it. Once you start analyzing deals find the one and go for it. Listen to podcast and read books too. If you can start local do so or out of state is an option.

Biggest thing is establishing a team that communicates, knowledgeable, and your boots on the ground. Also having a defined criteria for a certain area type(A, B, C, etc). Being patient in the crazy market. Also don't be stuck in analysis paralysis, find a good deal and go for it. 

That is awesome! Congrats

Yeah HML is good just costs more. Make sure to factor ALL costs in it. Having detailed bid from a GC is very important. Also find a reputable HML that fits your needs.

I would read David Greene's book "Long Distance Real Estate Investing" and network on here