All Forum Posts by: Grant Rothenburger

@Steve Vaughan Nice! Congrats!! 

I'm working on the opposite as you, gaining weight.

@Account Closed Even if you technically could lease option this (that's what you're looking to do right?) why do you think you can rent it at his rate, and find a tenant to rent it at a higher rate when the current owner can't find a tenant?

@Account Closed

Sounds like it's a community for folks that are 55 years of age or older, yeah?

Are you saying you could make his payments and move in? Or you can make the payments and rent to someone else?

Either way, are you 55+ in the first scenario?

Second scenario, if he's having such trouble with renting, what makes you think you can find a tenant?

@Warren Sawyers

Pretty easy, @Joe Villeneuve nailed it. Or find a property to live in, get in for less than 20% down, either live in flip or house hack.

@Charles Seaman all the time.

I'm no expert (or even novice) on the matter. I'd reach out to one of the many custodians that help you with this and ask them questions. You're not obligated to do business with them (though of course they will try to get your business) by just calling and asking some questions.

@Thomas Lee Nuckles how many beds/baths per unit?

If the PM has a good track record, I'd side with her over the realtor.

Besides that, maybe try calling the company or person managing/owning those downtown lofts and pick their brain a little bit.

@Account Closed

Easy, get on Craigslist and look at other apartments/houses for rent in the area that are similar to what you will offer. Call the landlord and start a conversation, if you're lucky/ good at conversation, you can learn a lot from this person.

@Nick Beveridge

Was this your first deal?

@Anthony Yannucci Welcome!

I'm really not sure how to get added to the realtor section but you can find people and companies in your area here https://www.biggerpockets.com/search?utf8=%E2%9C%93&term=

@Account Closed

The answer to your question: learn what repairs and rehabs cost in your area and go look at the house.

Now, it's likely with fire damage that you really can't tell what all needs repaired until you tear into the walls/ceiling/floor/ etc a bit.

As you've mentioned, you can pay a GC for an estimate, but even then you're likely getting a really rough estimate. My guess is whoever your end buyer would be, is aware of this as well, and it would be tough to move, unless you had a killer deal.

Either way, if you want to be a wholesaler, I'd work on learning how to estimate repairs. Start on easier houses than a fire damage house, as that could range from $5k for new drywall and paint to $30k+ to rebuild part of the house.