All Forum Posts by: Corey Frank

Hello!! What do you think about this analysis? 

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello everyone! I am a “new” inventor from Wyoming looking for 2-4 unit buildings to free me from my 9-5 j-o-b. I say “new” because I was on my way to purchasing real estate 2 years ago until fear, analysis paralysis and just fighting myself in my own head helped to excuse myself from buying long distance rentals to complete my goal of financial independence. I am creating this post because this time will be different!! I will use rentals as a vehicle to freedom! Here is my plan… I will analysis 100 properties by June 15th to cultivate intuition and to find areas that have a good price/rent ratio that will match my goal. (My analysis game was weak the last time I worked with real estate. This made me very incompetent and scared when trying to identify properties) After Identifying markets that will work for me from analyzing 100 properties, I will go on a massive networking campaign to connect with people in my identified, desired markets. After I connect with deal finders, I will start sending AT LEAST 4 offers a week while still analyzing properties. My main concern. My main goal/target is to get the very first property out of the way. The proof of concept to myself. If anyone has any tips/resources they can share, I would appreciate it! Thank you for reading to my rant/proclamation!

@Anthony Jeffers I will do for sure! Very interested to know that question! Thank you for the help!

@Caroline Gerardo hi! I thought the commercial aspect was very odd as well. The location is a sporadic residential area. Lots are big. A very small creek runs through the backyard. This property is only a 6 minutes walk away from one of the states better elementary schools. 

Hello! Brand new inventory here! Any thoughts anyone has on this property would be appreciated! My concerns with the property are these... The property is in a flood zone. They claim the insurance is $1700/year. (not yet verified) Would I be smart to require renters to carry, along with proof of renters insurance from the renters just incase a flood occurred? The property is also zoned commercially. I have yet to figure out the property taxes as this city's website is quite horrible. The acquisition price is 22k under asking yet I will still have $18,000 wrapped up in the property after refinancing. Any ideas of how to get at least $10,000 more pulled out during refi? My last concern is this property was last sold in 2020. I am wondering why they want out of the property in under a year. Thank you!

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*This link comes directly from our calculators, based on information input by the member who posted.

it happens haha. no worries

@Jan Schwoebel the cash flow seems really tight. Pretty low vacancy and no property manage to to fall back on.

@Stephen Sokolow There is no property included in your post.

@kevin asgharhian I had not thought about the limitations for withdrawal. I will defiantly be checking into that.

@Brian Eastman Thank you for the valuable information. I am looking to combine funds. Lots more research to do.

@Carl Fischer what I mean by matching funds is taking money from my 401k and combining that with separate funds that I have saved to use as a down payment for my fix and flip.

Hello biggetpockets community! After months of studying and looking I think I have found the one. My first rehab. The numbers make sense and the renovations are simple enough not to be overwhelming. However, to fund the rehab myself (which I would rather do) I will have to match the amount of cash I have saved with funds from my 401k. Is there anyway I can fund this rehab by rolling my 401k into an ira or something the like so that I do not have to take the giant tax hit by cashing the 401k out? I have heard of investors doing this with buy and hold properties however my plans with this are a simple fix and flip. Any input will be greatly appreciated!