All Forum Posts by: Edward Dean

You should start talking to lenders now to get an idea of what you can realistically qualify for. Both traditional (since that is where the bulk of the money is coming from) and hard money (for the rest). You're in NY so I imagine there are a ton of options for both, just get to googling, going to RE meetups, etc.

Best of luck!

What are the comps looking like? Does this make sense as a potential flip? Doesn't seem to make sense as a rental unless but make sure you are considering all angles.

Talk with your broker. I am not licensed in your state but generally you can have the investor buyer sign a buyer broker agreement that spells out compensation should you be the one who brings him a deal, who pays, how much, etc. If you are also trying to represent the seller too on a deal you are bringing your buyer, you need to make sure that dual agency is legal in your state. Again, talk with your broker about what the rules are for your locality before getting into a sticky situation.

Best of luck!

NOLO has some great books for situations like this. 

The more units, the more common this is. Imagine trying to schedule with the seller, the agents, and the residents in all 4 units for every single person who said they are "interested". Logistical nightmare. Like everyone else said, write up an offer based off of what you can see/the knowledge you do have and make sure you have contingencies in place that let you see the units during your inspection period. If you get in there and find out the other two units are a train wreck, you can address this via a repair request/price reduction/renegotiation. 

Best of luck!

Check out the USPS for options too. I don't do whole sale but I do mail for my business using primarily pre-cancelled stamps. You can also use what is called Every Door Direct Mailing (EDDM) which lets you mail to every property on that mail carrier route. Businesses like Postcard Mania can do this for you too. Pre-cancelled stamps let you mail to specific addresses. You can go in person to your closest USPS Business Center to speak with them about their different options as there are more than just the two I mentioned.

CA is very ADU friendly now. If you have the funds it sounds like getting a bathroom into the garage ASAP makes the most sense with a plan to convert the garage down the road. I've heard cheap 24/7 gym memberships are the way to go in the meantime if you need shower access right now so you could focus on renting the main house first to get your income up. You can then get something basic into the garage (simple toilet, sink, shower) to make living bearable for you, get the rental stabilized, then work on converting the garage fully for a secondary unit. If you are looking at short to mid term rental lengths, those types of tenants probably won't care as much that the garage is unavailable. If it works out, rinse and repeat!

Best of luck!

The classic house hack is to buy a place, ideally the more rooms the better, that you can rent out to cover or significantly reduce your carrying costs. Then rinse and repeat. But don't forget, you can also house hack a rental while you are searching for a place to buy. You get on the lease and be the one who sublets to other roommates. As long as you shop and have a plan in place, house hacking is a great option to get your foot in the door just about anywhere.

Best of luck!

Have you checked that the 'broker' you were speaking with was the highest person up the chain? If it is a big brokerage they may have a manager (single office or team level), then general manager (franchise/regional/several office level), and a broker of record (person with the most responsibility). If it is a major brokerage, you can usually find a directory online of higher-ups to push the problem up to. If not, then yes, start reaching out to whoever runs their MLS. Also, like Russell said, you can hire your own buyer's agent. They may be able to get a quicker response from this seller's agent.

Best of luck with it!

Depending on your locality, you will likely have more options/flexibility down the road with a single family home as well. Want to convert the garage to an ADU? Try your hand at short term rentals? Probably easier to do with a SFH than a townhouse with an HOA.