All Forum Posts by: Jacoby Atako

@Nicholas Sheridan, Jr. Can you elaborate on steps you used to find the deal? Was it off market? Did a realtor or wholesaler bring it to you?

@Brett Goldsmith

Very new to investing outside my primary home, but I actually have about $200k to invest. My issue is taking the time to find off market deals while still working full time.

I'm in the Las Vegas market so I'm not seeing the cash flow opportunities yet. I may need to partner with someone who has time to find the deals.

 I appreciate the insight on the shortsale process.  I will keep that in mind as I am starting to see  a few of them come up.  I am surprised by expecting more equity.  I know not every deal will be a homerun, but what makes you think there will be more equity opportunities out there?  Is that just based on your expectations of this market?

I came across a deal that I ultimately passed on for a couple of reasons, but I want to know if I am overlooking what could have been a strong deal.  

It was a condo, short sell, bank approved price of $105k. Needed some minor repairs, mainly paint and flooring. I budgeted $8k for rehab work. Planned on buying in cash, and the ARV I estimated at $135k.

These condos rent for $1000 a month.  Expenses are:

HOA is $110 a month, Insurance $35, PM 8%, taxes $35, and P&I after refinancing $500 ($100k loan). I also included a fixed cost of $50 a month for repairs, and a 5% vacancy. Water/sewage included in HOA.

Cash flow would be about $145 ($1740 a year) a month and total invested would be $15,500 with loan fees, etc, which is an 11% return, not including principle pay down. 

Ultimately I didn't end up purchasing the condo because: 1. It was a short sale, and I didnt want to tie money up in an offer for a long period of time in case other deals come up. 2. It was a condo, which apparently don't appreciate much in value 

Hey guys, I thought it might be interesting and insightful to hear some stories about the most expensive renovation project you undertook.

Did you know going into it how big it would be? What were the surprises? What would you do different? How did it turn out? Still make a profit?

I just went a toured a property. There was extensive water damage and mold, needed new flooring, cabinets, and paint. We didn't pull the trigger because I didn't no if there was structural damage as it was an upstairs condo. Also didn't pull there trigger because it was a condo and I've decided to stick with single family and/or town homes. Appreciate any stories!

@Rashad K. Looks like the culmination of great prep work and experience and sounds like a killer deal

@Whitney Hutten

I'm of similar mind. There's a lot of uncertainty regarding a second wave of the virus, and lots of investors here who are using forbearance, etc, which obviously will be difficult to recover from. So I'm preparing for a few months out.

@Juanita Lopez

I get being cautious, but if you guys your potential success by how many others are doing it, he probably wouldn't be looking into real estate in the first place. Should really be focused on the numbers.

@Coty Dolan great insight. Thanks!

Hey pros. I had a general question about those with good experience BRRRR investing. Are you finding success negotiating better pricing with the Coronavirus market decline looming?

Are there any other adjustments you've made? The issues that come to mind are in trying to refinance a year from now and finding the property has significantly declined...

Or even having limited success renting it out due to not people staying in and not viewing as many properties.