All Forum Posts by: Matt Crusinberry

@Michael Henry, You still have the option to lower your price/offer to meet the needs of these expenses. Also, if you have already run your numbers, the property still makes sense with these added expenses, then this should not be a hold up for you to continue to close. It comes down to whether this is an acceptable loss; either through what you've already paid or through what you're about to pay via fixes. I hope this helps, and good luck as you continue building wealth.

@Sabina Drexler, You may want to try out Shine The Light Home Inspection. They do good work, and good luck! 

https://shinethelighthomeinspection.com/

@Nicole Flakes, I would suggest the following:

"ABC's of Real Estate Investing" by Ken Mcelroy *

"Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big" by Brian Murray

"Best Real Estate Investing Advice Ever" Joe Fairless (long but very informative)

"The Complete Guide to Buying and Selling Apartment Buildings" by Steve Berges *

There are a few more that I enjoyed, but these are the ones that stuck out the most. I wish you the best of luck!

@Pete Woelfel, We do use the auction sites, and have purchased several properties off of them. Our experience has been great, with the exception of knowing that it takes awhile for the bank to actually close sometimes. However, it could be other factors as well (e.g. title searches). Feel free to PM me if you would like some further info. 

@Carley C., I'm not sure why you would want to run auction listings through an agent, other than time management reasons. There are several sites that give this information out for free for any area (i.e. Auction.com, Hubzu, Hudson & Marshall, or your local county website for sheriff's sales, etc...). You can also find them on sites such as Zillow and the like. I would like to mention that by using a realtor, you may be able to view the property if it is vacant and if they allow it. Each property is different, and it's based on a timeline (auction date). So if you so choose to go that route, do so right away as it takes longer to get an approval for the viewing. I hope this helps, and good luck!

@Eva Dees, While we appreciate the real state license my wife has, we typically don't do much on the MLS. Also, my wife is just a realtor for us (and family when required for the most part). There are benefits to it, and I don't want to take away from that. Being able to pull up info on any property, or seeing a property hit the market and being able to walk-in with little notice is great (timeline/owner dependent). However, I would say that you could use that time to learn more about the market and the in's/out's of buying with "no and low cash down" (Brandon wrote a book about it). My point being, I don't know that the RE license will help you as much as you may think.

I do think you're moving in the right direction though, and as you continue to study and learn the market you'll be fine. Also, feel free to hit me up anytime as I will do my best to help you out. There are groups that meet up in Blair County: Landlord's Association and there's a get together in Hollidaysburg. If you're interested, I can give you the dates and locations, just let me know. Good luck and again... feel free to reach out, as I am now fairly familiar with Altoona. 

@Account Closed, I recommend you go to your competitors: hit up the auctions/tax sales, others selling or renting properties on social media, those that are renting properties on zillow or hotpads, etc. I hope this helps, and good luck as you continue to grow. 

@Julie Fullmer, The most notable one is "meetup.com." You can also try to search here on BP, where there are others in/around your potential area doing the same thing. I would highly recommend google as well. If none of these options are available for your austere location, you may want to search just a little further out. Keep in mind that you can also start one. I hope this helps, and good luck!

@Seth Pinkerton, It's different strokes for different folks. I would suggest you use the search bar and write in this question. There have been a lot of discussions on this topic, and an easy search will give you more than you would want to know about it. Good luck!

@Hovhannes Hunanyan, I don't know what Podcast you're referencing, but Brandon is the person whom I believe coined the "BRRRR" strategy. I would say that he typically uses this method for acquiring his properties (SFR). Thus, he doesn't pay out a down payment, but receives all his initial funds back. I think his 12% may be referencing his multi-family that he owns and operates, unless he's not able to pull out all his funding. While I believe that Brandon has used several different strategies, I think he more or less leans towards his BRRRR strategy when dealing with single family residences. I hope this helps in answering your question. Good luck!