All Forum Posts by: Adam Dahlberg

Zoho user here as well. Check out the Godfather CRM overlay for it... It's a customized version designed for investors. Worth the $300 price tag

Thank you!! 14 units with 3 commercial spaces on street level.

Hello Ricardo, Congratulations on growing your business from 1 to 60+ over the years. Managing one property can be challenging enough as you found out on your first one, I don't know if I could sleep with 10 rolling at once. 🤔 One thing I noticed in your post (and something I notice a lot on these blogs😕) is that even though the math you proposed seems to add up.... The 'real' math of that property is not given. You mention $900 a month rent with no factors of maintenance, damage, vacancy, marketing, hoa, property tax, city rental tax, income tax, utilities (if included), insurance, etc. Then you say you sold it for 90k but again don't do any math for title/ escrow fees, realtor fees, transfer fees, inspections, BINSR, capital gains, etc..... Do you see where I'm going with it? I'm in no way trying to 'call you out' or say you are making a false claim, or discredit your experience. The problem is that this site is filled with ALOT of new investors trying to learn the business and not lose their shorts and when seasoned investors describe their deals in that fashion it not only gives misinformation and a false reality of how a deal works, but could also potentially drive a young investor who is anxious to buy their first deal into a losing situation. In your example above, I would be surprised if after sitting down and really doing the long term math you netted even half of what you mentioned. If I'm wrong, all the power to you. I mean no disrespect. Blessings.

Mike Delprete thanks for the message. We just got a 4-plex in AJ that needs some work, but it's under 100k if interested. Maybe a little small for your goals but the numbers work. Negatives is that it needs all the units rehabbed, but they are small. If interested my contact it below. Thanks I will add you to my list.

Hello Melanie, I am here in that market and pick up off-market properties every week. My contact is in my signature card. Call me ASAP as we just signed up 2 new properties this weekend and have not put them out yet. Thanks

Adam

I just had this conversation with an appraiser. Our last THREE homes have come in low with silly amounts under the selling price... I mean CRAZY silly, like a couple thousand dollars. In my opinion, if a home is worth $232,000... it is certainly worth $235,000 if that is the agreed upon selling price. So after a couple of these appraisals coming in like this, I went to a free "appraisal seminar" offered by my local title company. I was told that it is most likely happening for several reasons (not worth getting into the details) revolving around the over site of the Association of Appraiser Regulatory Officials (AARO). They are basically scaring the crap out of appraisers these days by monitoring their appraisals (all appraisals now go into a sort of "super zillow' government database program) and sending them letters stating they are being 'watched' and if their numbers seem too high they are threatened to have their licenses revoked. So these appraisers are scared to be the highest comp in the neighborhood for fear of their name getting flagged and ending up on a watchlist. This is VERY REAL and happening to appraisers all the time. 

Also, I was told that in the eyes of a lot of appraisers, investors are bad guys. What is being written about in a lot of the appraiser forums is many of them are docking the house price for the amount that the new buyer is paying in closing costs - if buying a flip. This is not supposed to be allowed, but nothing really we can do about it. That would help explain why my numbers were coming in low almost every time.

Sorry I didn't offer a solution... but hope this helped give you some info  at least to what is going on. 

Hi Justin and welcome to the site. Message me and I can get you a property in east Mesa that's ready to rent and needs very little if anything. Great buy and hold opportunity but probably too tight to flip.

Do you have financing ready to rock and roll or do you need to secure that to purchase? 

We are picking up a bunch of properties in that area but rarely have them for more than a day before wholesaling out or remodeling. 

Let me know

Adam

Agreed. Marty Baum rocks and keeps his classes entertaining and educational. Passed everything in one shot. Plus they have a BAR in the school. How can you beat that. Lol 

Originally posted by @Simon Shih:

@Adam Dahlberg

I would also have a passion for teaching if the students were giving me 40K a pop. I'd have a passion for a lot of things at this prices. Shoveling dung for 40K an hour? I totally have a passion for shoveling dung.

Simon, I believe you can too!! ... I suggest you find a way to make that happen.