All Forum Posts by: Asbery Rainey

@Andrew Postell

Thank you

I’m looking for property to purchase in 2023.

130k Max. Residential. Commercial. Multiplex.

I want a good cash flowing opportunity to hold.

I’ve been looking at landlord friendly states:

TX,AL,AR,MI,VA,MO,GA,IN,OH

Mountain States:

ID,MT,UT,WY,NM,AZ

I want to minimize my search.
What are some of these states that have worked well for you?

In any of these states does anyone know:

A good property management company?

-or have an experience where a property management wasn’t needed on an out of state rental?

A good Contractor?

An attorney?

Hello,

I remember there being a website to use to get rent prices in a certain market. I can't remember the website does any one have any ideas?

Opportunity where a triplex is inherited that needs work. Owner thinking of moving into one unit and fixing up the triplex unit by unit. For this type of Opportunity would it be ideal to have an Fha or construction loan?

Any ideas?

@ John Teachout It was a wholesale deal didn't have to purchase it. However I should have done better research first before I got excited and put it under contract.

@Marlen Weber I made the deal in Ely, Nevada

Investment Info:

Single-family residence wholesale investment in Ely.

Purchase price: $30,000

No Failures only Happy Accidents

What made you interested in investing in this type of deal?

I got it under contract for 30,000. Which is something I've never heard of in my state? So I jumped on the out of state deal.

How did you find this deal and how did you negotiate it?

Calledlooking for an owner they didn't want to sell one but had another.

How did you finance this deal?

no

How did you add value to the deal?

Fixed a window changed some locks, Had some people view it.

What was the outcome?

Didn't sell I underestimated the issues.

Lessons learned? Challenges?

Out of State isn't easy. Boots on the ground should be as motivated as you are.

Investment Info:

Single-family residence wholesale investment in Lancaster.

Purchase price: $187,000
Sale price: $187,000

House in Great Location, Near Schools Churches, and Near freeways. Great for a family. Built 1957 1,187 sqft.

What made you interested in investing in this type of deal?

OPM

How did you find this deal and how did you negotiate it?

Driving for Dollars, Saw a Houseand they weren't interested in selling at the time sold another one they had and they gave me the keys.

How did you finance this deal?

no

How did you add value to the deal?

Clean it up, Yard work etc

What was the outcome?

I had to renegotiate contract and was able to sell.

Lessons learned? Challenges?

Roof Damage can be a deal-breaker, People with a lot of money can be as thrifty as anyone else.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No