All Forum Posts by: David Espinosa

Well thats going to depend, if you buy a house and fix it up "a live in flip" and can sell it for a profit but will rent out at a loss.... Sell it. But if you can rent it out at a gain, refinance and pull out your capital and brrrr it. 

Yes, you can move and rent out the apartment after living in it for a year. If you have saved up a chunk of money but not enough to fund an entire brrrr yourself, you can go to a hard money lender and brrrr with their money using your savings as a down payment towards the property. If you have zero experience it will cost you more for a hard money loan but with the right deal you can make it work. After a few of those deals you can negotiate with hard money lender or start raising private money with your new found credibility.

I would suggest cozy.co it's very user friendly and has lots of features. Oh and it's free!

Yes they do I'll send you the info.

There are investor friendly agents for sure just not very common. Most agents work the traditional market with traditional buyers and sellers. I would personally suggest going to REI meetups in your area and fellow investors will gladly point out the stars of the realtor world. I deffinatley will say, no matter where you get your deal from, always verify because even the best of the best miss things and make mistakes!

Hey Russ I would get an estoppel for each tenant. It will protect you from false claims against deposits or rent amount. You can get one on biggerpockets.com/files. I would ask for atleast a year of bills for utilities you might see that is underinsulated and bills sky rocket in the winter. 

You can get seller to pay up to 6% of purchase price of the house on your closing costs.

Sound good hopefully no major issues come up tommorrow keep us posted!

Be careful with just making them automatically paying for utilities. Check the comps for rentals in that area if everyone that has that price point of rent is paying utilities it may not work out. You may have them move out and find out that similar properties where the tenant pays for utilities are alot cheaper. Hopefully not and it's just poorly managed. 

Usually when you buy off market deals you are not using agents. You can get purchase agreements on biggerpocket.com/files I would suggest talking with a title company in your area to close on the deal. When agents are involved the seller pays for both agents, which in turn will make the property more expensive for you. That's assuming your purchasing it for yourself. If you are trying to wholesale it you can get a purchase agreement that says you and or assigns will purchase the house then you get someone else to buy it but you get an assignment fee or do a double closing.