All Forum Posts by: Jabari Bell

Welcome to BP, Robert 

Looking forward to connecting with more local investors! 

Glad to connect gentlemen. Thanks for the insight & warm welcome

Great idea. Done correctly, the SFH leasing business can be very lucrative.

If I'm understanding your scenario correctly... I'd suggest to have him call the lender & ask them what is the buy-out amount (generally lower than what's actually owed due to the timeline in which the buy-out can be received) and if it makes sense for you... You can proceed with the purchase. 

Or

He can refinance and then sell to you, so that the purchase price satisfies the total owed balance. 

Congrats on making the decision to purchase your first rental property

Just as Jacob mentioned, it depends on which road you're looking to take with the liquid amount you currently have. 

$270k with a lender gives you ample leverage (you can still profit with a mortgage), $270k all in would be a strain on most investments - considering the markets you're searching in. 

Pleasure to connect with such a network! 

Certainly am eager to learn from everyone's experiences and expertise. 

My name is Jabari Bell, currently based out of Washington, D.C. Throughout my career, I've been able to attain a decent range of experience in the industry including: being an active agent (2 years), capitalizing on short term rentals (1.5), wholesaling (4), to now assisting on and executing full developments (2). I serve as the Managing Partner at Walter & Wells Real Estate Group - an acquisitions and development firm that specializes in single and multi family projects in the Maryland and Pennsylvania regions. 

Despite the time spent in the industry, I learn everyday that there is something that I don't know. The biggest takeaways from this platform, that I'm most looking forward to, are: further connecting with and learning from every level of professional (beginner to veteran) that Bigger Pockets has to offer.  

Are there any particular Real Estate focused ClubHouse Rooms you guys would suggest? 

Preferably with a history of knowledgable, empowering, & pleasant conversations. 

Congrats on the new project. There's no blueprint that states the sequence in which you have to follow. Generally when starting out, it's best to find contractors through referrals from your network; whether this comes before or after buying the property. Finding a GC through referrals is usually backed by honest feedback from a trusted source. It's not always necessary to have them accompany you on showings for properties that you haven't closed on - being that they're commissioned to tailor their services to your project and not the other way around. Most work in a team, but there are some that don't. It can get pricey if you're splitting up rates several different ways. 

That's inspiring man. More power to you and your journey.  

Not sure if you've read any yet, but when I got started in the industry at 19.. I read a few books that entrepreneurs, I looked up to, have also read and recommended: the Rich Dad series, The E Myth (there's multiple, choose the topic that suits you), a few Than Merrill books, Brandon Turner's Real Estate Investing series, & watched a ton of youtube videos. There's a bunch more, but as an introduction - these will introduce you to necessary terms and vocabulary - so that you're not overwhelmed when reading your next few. Just remember that not 1 book is going to have all of the answers you're looking for, nor will 1 person or 1 video.. I'd suggest in addition to self educating yourself to utilize your network and resources at hand through BP, continue to be inquisitive and ask questions, seek mentorship, sign up for workshops, join webinars, and most importantly never be afraid to fail. 

Here if you need anything buddy. Good luck.  

Pleasure to connect, Manny