All Forum Posts by: Gabe Chase

Hello, 

My name is Gabe Chase, I am a 19 year old college student located in Indianapolis, Indiana. I am just getting started in real estate and I am super excited. I have 2 properties under contract right now. I am hoping to close on one next week that will be used as a rental, my first rental! The other one we are hoping to close on by May 1st at the latest and will be flipped! Like I said I am a newbie and I am looking to connect with as many people as I can. I love forming connections and picking everyone's brain and hear their story and try and soak up as much knowledge and advice as I possibly can. Like the famous quote goes "It's not what you know, but who you know". I have found that quote to be very true so far. The main reason for this post is to get any advice for a 1st time flipper or new landlord. But also, I would love to hop on a Zoom or a call with anyone just to connect! 

Thank you all for your time and hope to set up some calls! Stay safe and stay healthy! 

@Isaac El Completely agree. Thank you!

@Will Fraser Thank you for all the advice. I agree with everything. Definitely have learned a lot and will probably not go through with the deal, after just running the numbers again.

Hello, I am 19 years old and looking to close on my first deal! I am super excited, however this deal has seemed to go on forever! About 2 months since my initial message and offer. The house is $127,000, with about $3000 in closing costs and $4000 in wholesale fee. So I'm going to be paying $9000+ to close on this house. I have already paid about $1000 for everything to be inspected and looked over (Home inspection, Plumber to come out, HVAC to come out, and roofer). 

The house needs a new A/C unit, Furnace is old and water heater should be changed out for a tankless when I replace everything. This property will be used as a college rental, which is why the tankless water heater was recommended. 

The property is worth $130,000 appraised and will cost me $127,000 + closing costs +Inspection(s) Investment(s). It will rent for $1429 a month and yield about 35% CoC ROI after all expenses and management fees.

This double deed transfer has cause the whole process to slow down and has made me feel like I have wasted 2 months. Is it worth it to continue and go through with the purchase of this house? There is a house for $110,000 with 300 less square footage in better condition right down the road. Should I focus on buying a BRRRR and put my energy and money into finding a private lender or hard money lender, or should I go through with the purchase of this house?

Please leave me any advice or questions! I would love to hear everyone's thoughts and opinions on this. I thank you all. Happy Holidays and Stay Safe! 

@Christian Van Dinther Hi, Christian! I would love to connect! I am 19 and am closing on my first rental by next week (hopefully)! I am currently a student at The University of Indianapolis! Would love to connect and talk!

@Mack Benson Thank you so much for your advice! I will definitely make sure to double check all my numbers. Fingers crossed!

Hi, my name is Gabe Chase and I am 19 years old and I am looking to get into real estate investing by house hacking. There aren't too many properties in my area that jump out to me as comfortable to live in or that are turnkey and ready to be rented. So I looked a little deeper and stumbled upon a new neighborhood being built and I remember on episode #392 of BP Todd Baldwin mentioned how he buys new construction houses and rents them out by the room. This is exactly what I am aiming to do with friends. I am writing this post to get everyone's insight on house hacking, the struggles/rewards? Should I buy brand new or look for something with some work that needs done? Really any advice! Thanks everyone! Stay safe and stay healthy!  

Hi, my name is Gabe and I am 19. I am located about 10 minutes south of Indianapolis. I am looking at buying my first property to BRRRR. The goal is to buy one close to my University and rent it out to college students. I guess the trouble I am having is trying to learn everything, and it seems a little overwhelming. I listen to BP almost every day and love every second of it! I also am currently reading David Greene's book on getting started with BRRRR. I am learning so much every single day, however I feel a little nervous to jump in. I have an amazing real estate agent who is more than willing to show me properties, and I am actually planning to go see 2 this Friday (9-18-20). I am worried that if I want to buy one, how will I get funding? I can't get a loan because then it isn't BRRRR. Any advice on securing funding? How to handle and calculate all of the renovation costs? I know Brandon and David always say, your first deal is mainly just to learn and that is everything, however I don't want to lose anyone money or completely fail. Hope someone sees this and can help with my nerves and offer any advice! Thank you all! Stay safe and healthy!