All Forum Posts by: Derek Armstrong

I am just starting out and have been in and out of several properties and am at the point where I am looking for contractor referrals to attend walk thrus with me to help me evaluate rehab costs for SFR properties. Should I being looking for a GC to give me accuracy and reliability or is the license more of just a bonus when searching for reliable contractors?

Hopefully the wording of this question makes sense.

@DJ M. Understood. Thank you.

@Michael Noto thanks for input. I think I will

Submit an offer and just put contingencies in the offer. Worst case, they reject the offer. Next worst thing, is they come back and tell me no contingencies. 🤷🏻‍♂️. No biggie

Found a property that is REO. They are asking for highest and best offer by EOB Friday (tomorrow) and the property is "sold as is"

Does this mean if I make an offer and it gets accepted by the bank, that I do NOT get a due diligence period?

@Justin Reyes

I’ve contemplated the same. Like some have mentioned my 401k allows me take out a portion as a loan with a 6.5% interest rate. Not going to find a better interest rate than that with other banks or private money. Additionally, the interest I would pay on the loan just goes back into my 401k. If your 401k does not have the loan opportunity, I would look for other sources of funding before taking the tax penalty, but that’s just me. Good luck with whatever decision you make.

@Derek Raivio

Great forum read. Thanks for the wealth of info from everyone. For the newbies like me, what is the CRM acronym?

@Jeff Kao appreciate it Jeff.

-Derek

Sort of new to the forums but really trying the figure out what the Vote button is for? Lol, is it similar to “liking” something? It doesn’t keep my awake at night or anything just wondering what it is for? Thanks in advance.

-Derek

@Shaquan Webster I’m just getting started as well. I’m under the mindset of recession or not, a good deal is a good deal 🤷🏻‍♂️

@Bill Plymouth just starting out and have actually completed the 75 hr course the GA requires. Like I said, the only reason I wanted it was to pop into houses whenever I want. Not sure if that alone warrants taking the state exam and paying the brokerage fees. I feel like I can do a good CMA and neighborhood analysis and I am in tune with economic developments in my area. I literally just need someone to get me into the properties at this point.