All Forum Posts by: David Veikune

Awesome!

Thanks for the post. I love seeing what others are up to and the numbers!

I like to be pre-approved 1st so if I am working with a Realtor I can tell them what my exact price point is.

That's interesting Ive never heard of that. I once responded to an ad on Craiglist that I thought was a mobile home, come to find out it was a sketchy homemade tree house like structure on top of a trailer for towing. 

Smart thinking Scott its always good to have a plan and a process.

1) Criteria. I always have a value Im willing to pay,"its all about the #'s." Auctions are perfect at keeping me within my #'s because in my area you must put down 5% of the winning bid so the check I bring is 5% of the highest im willing to pay so if it goes over i cant bid anymore.

2)Market Area-I started out looking small but as time went on I expanded. Always check your backyard 1st.

3)strictness- Im very strict. If you know someone who is in another area and they can help you with your analysis of that area great, if not I'd learn the area a bit before jumping in. Ive heard horror stories, one of which dealt with investors who thought a half price hotel right next to an airport, seemed amazing until they found out the airport was relocating and all the great business the hotel had was soon to be gone. Moral of the story, know your area. 

4)Walking away. The great thing about being a RE investor is you choose your path. Ive done a lot of stressful deals but I'm relatively young and I like to say it builds character lol. Will I be doing them in my 80's? Probably not but for me now is the time to learn so I have no problem with what some people may shy away from. If you can stomach it and the stress wont put you in an insane asylum why not.

5)auction tips- I make sure to go to at least one of the open houses, assuming they have them. I wont purchase properties that they wont let me see the inside, to much uncertainty. Take lots of pictures because if your grinding you wont remember ever single deal off the top of your head. Have a strategy at auctions, some investors go up a dollar to be super irritating lol while others wait till all the ruckus is gone then they start. Have a great team, I should have lead with that. Well thats what I can think of right now. Best of luck Scott!

Usually when they ask you to use their lender they'll sweeten the deal with some kind of incentive. If they knocked an extra 10-20k off the purchase price I might accept. 

Hey Broderick congrats on getting started man. I know a bit about flips so if you have any general questions I might be able to help. k best of luck

That's Awesome! 

Sounds like you have concrete foundation to start your journey in RE investing Jesenia. Best of luck!

Smart choice Duc. Ive been analyzing deals in Hawaii for a while and usually you have to put 50% down to cash flow because of the high price of properties and the HOA fees eating up a lot of the profit. Best of luck with finding good partners in the Mainland.