All Forum Posts by: Dayn Beals

Steve, 

Welcome. BP is a great place to learn and connect with others. You will find your success partners at local BP meetups and REAIs. Have fun!

I'll be there. 10 bucks at the door?

@Tapiwa WakatamaAre you in any position to renegotiate? I wish we could beat 1% rent/purchase in my market. I would think the lessons of landlording might be more expensive than a mistake buying at this price. 

Ask the inspector what his OPINION of the correction cost. Contractors love to share their knowledge as long as they are not liable for what they say, hence OPINION. Also, ask him for names of good contractors. He probably knows a few.

Drive a hard bargain. Don't be afraid to walk, you can do this again with a better property. Don't forget to breathe.

@Tapiwa WakatamaIf it's a good deal do it! Are you having a pest inspection as well? Bugs, mold, and dry rot will show up on those, which will give you or your contractor a good idea as to cap ex/rehab costs. The home inspection should cover all structural and equipment issues. If you are adding equipment or remodeling the kitchen, make sure there is space in the elec panel. Is this a rehab, or are you going to hold it as a rental? Tell us more about the property and your plans.

Congrats Matt!

As far as what strategy, what do you wish to learn next? Do you really want to be a landlord, or sharpen your negotiation and rehab skills?

 I've seen properties in my market get listed for two months, then get rented. It looks like you are in a good position to do either. In any event, you should do well as long as you don't overdo the rehab.

Best of luck!

Hi Reggie, 

You are in the right place. Have a listen to the podcasts. They will give you a good overall picture of investing and you will learn a bunch. It really helped me figure out a game plan.

Good luck!