All Forum Posts by: Corey Hawkinson

@Chris Kelly I sent you a PM as I am interested in this area of investing. Feel free to answer here if that’s easier and would help others. My main questions are what I should look for in a property if I wanted it to be for traveling nurses? Is there anything I should be concerned with for this type of investing?

@Brendan Barry Congrats on your first closing! Far too many people spend their life analyzing but are too scared to actually make the jump. You’re already ahead of them!

Nothing wrong with your process. Focus on the serious candidates. You might have to adjust if you aren’t getting enough good applicants, but you can always adjust later if you need to.

@Randy Stark You already have great answers, but I’ll add that you should strongly consider going for this. I did a 1031 exchange selling a single family to buy a 4-unit. A year later I did another 1031 exchange selling 2 condos to buy a 6-unit. It has been a huge boost to my cash flow, as well as overall net worth since I’m paying down larger loans each month. More specifically, my tenants are paying down larger loans. Go for it!

@Noah Dunlap For sure use the owner’s phone number over contacting tenants. I get texts frequently from people looking to buy one of my properties. Nothing wrong with that.

@Andre Harris I’m not sure what you mean by giving. You’re always welcome to donate your profits to any cause you would like.

There is also specific investing where you can rent to group homes that you believe in. Personally, I rent through a program my state has for people that used to be homeless. To be clear though, I’m not a charity and I make a profit on those rentals. I’m just saying that you can find a way to make money while also improving the community. It might take more work, but it can be profitable.

@Donny Hogan congrats. I’m very interested in this type of investing, also in that area. Mind if I connect with you for more details?

@Colin Williams I agree with Chris. Just be direct. If I’m talking with a wholesaler I know exactly what I’m looking for.

Example response I would give if you asked me: “I’ll look at everything you have. If the numbers work, I’m interested. With that said, I work closely with a program in ——- county. If you have multi family places in the northern part of that county, preferably 3-8 units, I would be very interested. —— and —— are my two top cities in that county due to need, but I’m interested in everything in the northern half of that county.”

@Noah Dunlap Yes, that would irritate me. This seems to be crossing a line. I know people are shocked to hear this, but many real estate investors like the properties they own and do not want to sell them for 40% of what they’re worth. Maybe they don’t even want to sell for 100%, but people that send letters don’t offer 100%.

@Nancy Kang sounds like they were correct to tow. If the power goes out again, follow that tip to have the garage door released from the track. I’ve had to use that multiple times.

@Derek Kruse Welcome. I think western Wisconsin is a solid location for AirBnB. Nice lake properties that bring people over from the Twin Cities. I have briefly looked into that myself and might dive in more at a later time.