All Forum Posts by: Eliott Elias

There are plenty of deals on the MLS, whether it is off market or on market the numbers to cash flow have to work for you.

It's going to be tough not to raise rent as an increase of this, as supply gets scarce and interest rates climb renters are going to be less picky. Are you negative cash flowing as a result of this? Raising your rent is completely justifiable with a tax increase of 35%. 

You get paid to doorknock as well, take advantage of that

Get partners lined up first. A good deal can be vetted and underwritten in a few hours, a good partner needs weeks maybe even months to vet before you feel completely comfortable doing business with them. Referrals are always great and don't require as much vetting, but these people are often chin high in business 

It's a red flag if the buyer assumes the lot comes with the home. I would make it clear to the investor what they are buying 

A properties location will indicate it's potential value. Buying a cash cow in a D class neighborhood won't build wealth via appreciation, but will be a good cash flowing property. You can't always have both, I tend to lean towards appreciation and location 

Who are you catering to? This will throw off first time home buyers but not investors. See what it's gonna cost to fix it and weigh out your options. Do comps show any homes sold recently in similar condition selling for top value? 

I wouldn't hold too much value or worry about what the Zestimate is. If a buyer approaches you valuing your property on what the Zestimate spits out they are not serious about buying your house. Tell them to run their own comps and come back when they are serious 

Talk to the sellers agent and see what's important to the seller. How bad do you want the home? Price may not be what's most important to them

Some investors strategy involves negative cash flowing for a few years to take advantage of that appreciation. It all depends on your situation, if you have a W2 job supporting it, it could work. If you don't have the reserves to cover it, it could feel like an anchor dragging you down every month. Maybe mid term rent it so see more cash flow?