All Forum Posts by: Griffin F.

Welcome @Brian Hall   Sounds like you've got a great opportunity to take action and gain some experience! The BP Community is an invaluable tool to answer any questions you have. Good Luck and thank you for your services!

Welcome to BP @Anthony S Boxill Jr said, determine what strategy you intend to pursue and then learn and take action. Residential to commercial to hotels are all vastly different business models. Even brokering residential vs. commercial requires different approaches. Starting out, initiate the mastery of one and grow from there.

Good Luck!

Sure, what this ultimately is - is owner financing which can be done on rehabs and negotiated to any agreeable terms - such as yours stated above.

I've experienced seller financing on a flip. Seller and I agreed to a price. They held the note until the property was sold at 10% interest on the note (their opportunity to make some more money). This can be attractive to a seller because they can be protected via promissory note, personal guarantee, etc. At closing all that was transferred was title. Less money out of your pocket. Better cash on cash. More deals. 

I would first pull tax records on the property addresses you take down - to see where the owners address is. There is a likelihood these distressed properties are absentee owned - so leaving something at the door may not be the most effective.

Find out who owns it, find there address, and mail to them. This method works for me.

I agree with @Chad Clanton in regards to having a proposed, concrete business plan may keep you from excellent unforeseen opportunity.

@Account Closed  Nonetheless, I find it important to have a goal oriented plan. What is your objective outcome? Cater that objective to your market to make your goals realistic and to determine the most effective deals you can aim to acquire.

Detailed synopsis! @Michael Noto Nice to observe local activity going on. Good luck with the deal

Probates are good. If you have the time, driving around areas of interest looking for distressed/vacant property can be effective. Motivated sellers are the name of the game.

As far as types of investments - Research your area to find where and what investors are buying. Network. Narrow down what you need to look for based on where you want to invest.

Many of your questions can be answered searching through here:

Real Estate Wholesaling Questions & Answers

NOI (Net Operating Income)= Income - Expenses

Cash Flow = NOI - Debt Payment

Cap = NOI / Purchase Price

Prop Value = NOI / Cap

Cash on Cash = Year of Cash Flow / Down Payment

What do you assume your expenses to be on a 2-family?

$5k in gross rent calls for a property worth more than $200k...

How much cash flow do you want?

What you need is to be able to pay expenses and debt payment...

A strong, hopefully appreciating area is important too!

@Ned Carey @Judah Hoover 

Thanks for the clarity!