All Forum Posts by: Ernes Sahic

@Andrew I am actively looking on Zillow and realtor.com for properties, I wanted to see if I could expand my search and possibly find a off market multi unit that the owner would be willing to sell for whatever motivated reason. Haven't had much luck finding much on MLS.

I am looking to use a first time homebuyer FHA insured loan for the low down payment to purchase a duplex, triplex or fourplex in the Dallas Fort Worth area. One major part of my plan is finding a property.

What I’m looking for is a way to find all the multi unit properties in my specific area so I can reach out to the owners. Where can I located these properties and owners?

I have started looking at Zillow and Realtor.com. What other resources should I look into?

@Jordyn Rodriguez By talking to the owner and the neighbor who was taking care of the property for the owner. They were good friends while the owner lived there. I talked to the neighbor for about 2 hours and the owner for a hour on the phone. Just chatting about life. They end up telling you the bads, the goods and all the in between.

I think talking to neighbors is a great way to get information on a potential investment and the neighborhood you will be investing in.

Hi everyone, I’m looking to get some information and advice on Owner Financing.

I have a opportunity to purchase a Off market SFH split level that I plan on turning into a duplex. More on that later.

I have identified the owners wants and needs. He is retired army living out of state and does not have time or want to deal with the property. He has had some previous tenant/squatter issues.

Owner owes 30k on his mortgage, Owners ARV is estimated at 90k, but my ARV after doing some comps on Zillow, is more around $50-60k.

Currently I have my cash tied up in another investment property, so I wanted to some suggestions on talking to the owner about financing.

-Take over his payment?

-Offer to Partner with him(50/50 equality) and do all the work(rehab and find tenant)

Could I get some advice from my Bigger Pocket Community. Thanks everyone.

Now that I’ve had a little more experience and have seen more properties, I can tell what the tenant is like by the way they live. Not all the time, but mostly. 

Recent looked at two rentals and one was very bad, but the tenants were a sweet older couple. The other was kept up nice, but the previous tenants were basically squatters for 6 months. Found that info out by talking to the neighbor across the street.

I would suggest speaking with anyone you see in the neighborhood. You will get some great info. The neighbors want good tenants almost as much as we investors do.

I had a contractor who I meet through another investor who had some work done by him on a house on the same street.

The contractor gave me a good price, I paid him 350 for material and 500 for labor to get started and the remaining balance of $700 would be paid on completion.

2 days into the work he called me and said his brother was murdered and he could no longer finish the job.

I was very sympathetic because I was dealing with a passing just the day before, I told him I would get back with him in a few days because I liked his work and wanted him to finish the job when he is ready. I told him I would call him in a few days.

I waited the weekend 3 days and called Monday afternoon and got no answer. I left a voicemail and text, but have not received any communication back in 2 days.

How long do I wait before moving on?

What do I do about the money I already paid?

I’m not upset if he just disappears because he did finish 3 out of 7 rooms.

Looking for some feedback, advice, and your personal experiences.

Have you had a terrible experience? Tell me more.

Hello, I recently made a offer on my 1st investment property and it was accepted. The title company sent me a email saying they need to update the abstract and it would cost me $500-$1000 to do this. Is this something that I must do? The property is 10k and I planned on using a 0% interested credit card to fund the purchase, but the title company also said that they only accept cashiers check or wire.

I made an offer on a property today and gave them a all in price including closing cost I am willing to pay. The wholesaler came back with two options. 

OPTION 1:I pay buyer closing cost (He said estimated $500) and they pay seller closing cost. 

OPTION 2: They would take $500 less than my original all in offer and I pay all closing cost.

My Question is how are closing cost determined on investment properties?

Is there a difference in closing cost on a property selling for 100k vs one selling for 20k? 

Im purchasing this property cash fyi. Does that play a difference on closing costs?

Hello BP Family.

I want to discuss some ideas we all could us to expand to areas that are not right in the middle of the tourist hot spots, because most properties are over priced or just priced to high for thousandaires, who haven’t reached the millionaire goal quite yet. Such as myself.

What are your must haves when looking for short-term rental property?

What resources do you use to find if the property is in a tourist area or close to one?

I am looking into ways to find statistics on how many visitors the town/area get per month or year. Is there a way to pull such numbers?

What are some strategies we could use to find out such info?

Here are some of my thoughts-

•Reach out to local real estate agents in the tourist area.

•Find attractions/businesses in the area and contact them.

•visit the area, drive around and determine how far out of the tourist area you can go and still get a fair rent price.

•Research on google. “Google is your friend”

Those are some of the ideas I could think of. Let’s see what else we can add to the list. Throw out a couple ideas you have or have used in the past.

Thank you in advance for any and all input you provide to help our fellow investors on the BiggerPockets Forum.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey everyone, so I have been searching for my first investment property and running numbers in the bigger pockets calculators. I found this Single Family home and duplex. The SFH is occupied and rented for $685. The duplex is occupied and rented for $395 each side. From looking at pictures and speaking with the wholesaler, the properties don't seem to need any major repairs, just outdated, but looks rent ready. 

Can I get some opinions on my calculations. 

I also have some questions I hope you guys can answer and help me with. 

The properties are about a 6 our drive. How should I verify the properties condition. Do I take the trip out there or Call a local inspector? 

Also I'm looking to fund this deal with a partner, so if anyone is interested in working together on this deal, Please reach out.