All Forum Posts by: Hugh Carnaha

Great turnout last time guys! We had some good conversations! Some perspective BRRRRing and Househacking perspectives were awesome!

This is exciting, The upcoming even is at "The Collective Electric Eatery" it's basically a steampunk themed bar and grill!!!! They just opened the 27th, a few days before, but I was able to secure us a reservation.

Please please please, If you plan on coming and aren't completely against it, let me know here so I can get them a head count.

Cheers!

Hugh

I am considering getting a MO RE Licence with the intent to build a funnel, snag deals I can afford at the time, and pass off any/all deals I couldn't afford, but would If I had the capital. I would be hoping to get a commission split from any properties I passed along. I'd also be constantly sharpening my axe all day long with doing deal analysis. I'd largely be targeting things on the MLS, and not looking for off market deals specifically.

I want to be known in my area as "The Deal Finder", and less going to showings, or working with general public, more on the investor side. I'd also want to work to create abundance around me. There's meat on the bone for everyone.

I'm afraid if I did come across an off market deal, I couldn't legally pass it to other agents?

There's something off on my logic, I'm not experienced enough to know what it is though! I have not taken an RE course yet. I don't want to just yet in case having a license holds me back from certain strategies.

Can anyone help shed light on that?

Wow! I'm so glad I stumbled upon this thread. I think we have a 2/2.5 KCUMB and KCPower and Light and it's only getting $1100. It's 1400/sqft so there's likely a bonus room in there that can be brought up to a bedroom. I didn't realize the difference in rent was so drastic.

Thanks for posting OP!

Howdy OP!

In my area there are things that meet the 2% rule. You can also "Make" 2% rule properties by doing a conversion to duplex/triplex, or adding a bedroom from a bonus room.

As others have pointed out though, the 2% rule in most parts of the US mean it's some insane crazy deal that slipped through the cracks, or more often a C/D area. Or something really really wrong with the house.

I'm not against looking at those at all. Just be cautious when you do. Most my stuff I target is 1.5% rule, and they are full off headaches, and are in sketchy areas. My goal is to buy the whole neighborhood though.

As far as your question on Long Distance Real Estate Investing goes, If you haven't read it already. David Greene wrote the book "Long Distance Real Estate Investing", and it has GREAT tips for building a team to manage your stuff from afar.
https://amzn.to/31tDmWK

Howdy Brandon! 

I agree with what Jon said, without knowing numbers, it'd be harder to give an opinion. Only you can know what is right for you, and I agree you could go to some REI meetups locally and find other OPM instead of risking burning a bridge with a family member. That said, I am risk tolerant and DO borrow OPM from family, and am doing BRRRR. Once they're paid back in full + interest, I BRRRR again. Their OPM is kind of like a line of credit for me.


The money is made when you BUY the property. I believe BRRRR to be very safe IF you do it right. (Second only to House hacking in many folks opinions) If you are confident in your numbers, and confident in not burning a bridge, and you are comfortable with risking losing that, then BRRRR would be a relatively safe choice.

Sounds like we have about 6 people that are going to attend, despite only 2 showing on here.

Howdy Donald! Masks are required in Nixa. You need to wear them inside until we sitdown to eat. We'll be on the patio weather pending! Last week we took them off once we sat down.

The Turnout today was awesome! We all agreed to do 1600 on Aug 15th again at Big Whiskeys!

See Y'all there!

Fantastic Turnout everyone! Next one scheduled for Aug 15th, at 1600. Big Wiskeys!

I agree with what Tanvir said. If you can get into househacking at all, a duplex or Triplex could go a long way as you get 3 units for 3.5% of the purchase price if you go with an FHA loan.

Make sure you run numbers that aren't optimistic, I think I ran 50-60 homes I genuinely considered purchasing before I found one to make my first offer on. Then it was 6 offers later before I got one accepted.

Also, not sure where you live in Alaska, but I'd also be conscious of population size and if it fluctuates could effect your numbers at different times in the year.

More than anything, I'd see if there was a local Real Estate meetup in your area. You can ask these questions to those folks who know your market. Then plan your own strategy w/ more accurate information on what they said.