All Forum Posts by: Derrick Aragon

@Natalie Kolodij

Is this going to be your personal house and you want to live in it for the seeable future... if yes, don't get to worried about pay 5-10k over if you love the house.. sounds like there are not a ton of great homes in your area.. 

If this is a max affordability problem, as in you personally only can afford or qualify for $265 loan that makes things easier. Offer what you can afford if he cants do it then move on. 

With 15k +10k = 25k + 315= $340k is what he is going to list the property. 

I would come up with the top dollar you would pay say $290k and worse case scenario you are ok with paying that number... have it excepted and then the appraisal and home inspection and get some bids on the roof electrical all the stuff that comes up on the inspection and leverage that to negotiate further discount. 

or get a home inspection today and bids negotiate with that leverage so you don't have to get your bank involved and run your credit and pay for an appraisal. 15k might be light for a new roof because the roof has to be anchored because of new code or it is total tear off, get 2 bids on everything and use it as leverage. 

good luck!!!! 

@Phil LeNeveu I am not sure why these are the options.. my assumption is you live in Boston and don't have a lot of money so you want to invest in some type of lower end market I.E Cleveland, Detroit type markets. 

stack stack stack that cash and invest in something closer to home.. with investing in what I take from your post is SFR... you are not going to make enough money on the cash flow and back end pop to justify the travel and other BS... you would need some scale... Learn the market locally even an hour or so out of your area.. learn the market, pick an area, and then work backward on how much cash you need then.. when you have the cash you will be ready to execute...

ask friends and family if they know anyone with rentals maybe you can snag a deal from them...

@Shane Short that was a brutal ramble to read... and after it all, i have no idea what you are ask for advice.... good luck.. I am sure you will figure it out 

@Saad Aziz short term long term? cash flow or back end sale return? investor or want your own project? 

@Mike Biewer I have done 3 of those, I am actually doing one right now... 

Super easy, probably around $70k, and I would work with me so you don't spend too much on architect... 

I save people tens of thousands of dollars on every project. 

There is no other investment in regards to buying rental properties that can compare. we can walk through the numbers if we choose to work with eachother.. 

@Dakota Mivshek might want to look up Jennifer at Hugh reality you can tell her I sent you... 

@Dakota Mivshek are you going to be an agent? 

@Mike Biewer I am GC and we build ADUs, we have done about 20 of them.. Clients = people I have built or people looking to build adus. 

@Peter Ryabikin Good for you man.. killer 30 flips.. I am not sure if you have guys work for you that can do the staging, hauling, and possible storage... 

If you do then I would spend some money with a stage designer or do it yourself if you know what you like and do it yourself. 

I am assuming you are using the same agent for these sales?? If so I would negotiate for them to put up some money to cover your cost..

Also, what you could do is if you are using one staging company you could say I am going to buy my own furniture what would you charge me for staging and moving services. 

Or ask them to significantly reduce their fee...

You could start a new "company" that you are doing the staging yourself and charge the realtor something for your time and guys.  

You might be the one selling the property as well...

just a couple thoughts 

@Preston Roth

If you have significant capital and time on your hand you can do it yourself.. as penny pincher you will be paying for your education..  If you are going to do a large development those mistakes can cost you a lot of money..

If you are going to go for highest best use then as you can see above there is compatition coming down the pipe line and you should have someone on your team that knows what they are doing and willing to keep you in the loop.. so you learn for your next one.

I have a specialty in modular MF development.. my cost is significantly lower than the above-mentioned cost. They are right on for stick frame in this market today. 

If you are going to do rehab type thing on existing homes do it yourself.

If you want to chat you can come to my office in NE... I can help you with some advice or for anything you want to do, interested in JV partnerships as well..