All Forum Posts by: Danni Green
Danni Green has started 3 posts and replied 14 times.
Post: Nervous about First Deal
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Chris Levarek:
@Danni Green Congrats! Already by taking action, you are ahead of many people on this platform. The first one is always a learning experience. My recommendation at this point, keep a close eye on the property and work on building that support team if not already in place. Weekly communications with a property manager and the construction crews. Ask questions of your lenders and agent. Ask questions to BP. Try not to assume much or set it and forget it.
I am an IT engineer who started in 2018 in much the same way. I partnered with a private lender for the renovations capital. So don't forget this is an option! Happy Investing!
I really appreciate it Chris!!
Post: How to contact owner of abandoned property?
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Hey people,
Quick question for you all. So its a really nice property right around the corner from where I am renting from and its been abandoned for some time now. I just looked at the property from the outside yesterday and noticed it had a sign on the door that said available with a phone number attached. I tried calling that number and the phone was disconnected- it was also an out of state number.
How would you guys go about trying to hunt down the owner of this property and making a possible deal?
Any suggestions?
Post: Nervous about First Deal
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Thanks! I do plan on documenting my progress and have already took pictures/videos of my before. Feel free to connect with me as I will be posting my progress on my profile and eventually in the forums!
Post: Trouble before even starting, newbie needs advice.
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Fellow newbie here.
Have you ever heard about tax sales? It's a good place to buy properties for cash for as cheap as possible. It requires A LOT of time researching though.... And you the need cash on hand. I'm no expert on tax sales but I am familiar with them. Look into it! It might be a good opportunity for to buy and sell quickly to earn some extra cash.
The other advice you're receiving is really solid. But you can look into what I mentioned in the meantime, if you're willing to put in the work.
Post: Nervous about First Deal
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Blaine Alger:
Relax, you got this. Don't try to talk yourself out of a deal.
Lets look at what you got going for yourself:
-sounds like you have a decent paying job
-your family has been in the RE business for a while so I'm sure they would love to offer you some advice and bail you out if Sh*t hits the fan
-its only a total investment of 45k which is a lot of money but still relatively affordable
At the end of the day if nothing goes your way, it'll be a great learning experience. Even if you lose 45k, that would be worth it in my opinion.
Let us know how it goes.
-BA
I appreciate the advice Blaine.
An update for everyone : I got approved for the rehab loan!!! So we are in business haha! I'm so happy!
Post: Nervous about First Deal
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Lyn Dee:
@Danni Green hey Danni! Fellow newbie member here although I've been doing REI for some time. I was really interested seeing you're in a similar field- I'm a software engineer. Good luck with your endeavors!
Hey Lyn!! How is it over there in Delaware? I sent a request to connect with you. Feel free to message me and maybe we can chat. I'm always down to make new friends lol.
Post: What does a 'hot' market mean?
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Damaso Bautista:
Hot Market is when a property goes up for sale for $650,000 and is contingent in hours for $850,000 with multiple offers on the table.
That is a hot market!
I am using Los Angeles California numbers but you get the idea.
Haha I see now. Thanks!
Post: What does a 'hot' market mean?
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Stephen Brown:
Hello Danni! When we say that the market is hot that means that properties are not available for sale for many days because there are so many offers on the properties as soon as they are listed. This drives the price of real estate up, and we have a seller's market! It's hot!
Let me know if you need anything else :)
Thanks
Post: What does a 'hot' market mean?
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Simple question looking for a simple answer. I keep seeing people say the market is hot in regards to their local real estate market. So what do they mean by this?
I'm Gen-Z, so I feel like I should know most codewords but....LOL !! Maybe someone can help?
Post: Nervous about First Deal
- New to Real Estate
- East Chicago IN / Fort Wayne, IN
- Posts 14
- Votes 16
Originally posted by @Jamie Derasmo:
@Danni Green tough position to be in with banks. Your best bet might be trying to ask family for money. Let them know they’d get it back within a certain timeframe and with some interest. You could try a private money lender but they’d still probably require a down payment and the interest would be much higher, definitely would eat into your bottom line.
I'm scared I might have to wait to improve this property.... Yeah I don't have any family who can do that for me unfortunately.