All Forum Posts by: Jason Heinze

Hey everyone,

So I own a few multi-family rentals in Indiana where the winters can be quite rough. Its nearing the time to replace the roof on two of them. They are currently shingled, but ive been told that it may be worth investing in metal roofing for various reasons.  Can anyone here speak from personal experience on the benefits or lack there of?  

Thanks in advance!

Hello BP fam,

I was wondering as a general rule of thumb, how many flips would you suggest a new investor finish before taking on a major rehab project. 

I came across a property on the MLS that is going to auction soon. It was a 1960s build with holes in the roof, severe mold and wood rot damage. Considering its age there is of course the possibility of lead and asbestos. Since the property is in Florida I would also assume foundation issues.

To say the least, this project is a HUGE undertaking that I wouldn't feel comfortable tackling yet. Which brings me back to the question.  How much experience in flipping would you suggest before taking a risk on a property like this. 

(side note) The property was listed on MLS for 33k and the comps for the area were about 160-180k.

As always, thanks for your time!

@Henish Pulickal will do

@James Wise @Henish Pulickal Thank you both for the input. From the sound of it, its not impossible, but also not the best route to take especially as a new investor.  Would you suggest anything other than turnkey properties as a means of investing.  Real Estate Notes are a route ive been researching, however the capital needed is more often than not much more than your average 20% down payment and also requires a lot more communication with the borrowers.

Again, thank you for the input.

-Jason

Hello BP,

So a brief description of my situation, goals and so on before my question. I'm new to investing, ive been doing nothing but reading recommended books, attending seminars and partaking in local REI group meetings for a few months now. Since I live and work in Los Angeles, and the houses here are out of my range currently I decided to jump into the shallow end of the pool to start with a turnkey property out of state which I will be closing on early next month.

For my next property my plan is to use the BRRRR method, but based on my limited experience and what I have read it seems like something that is not ideal if you do not live in the area in which you plan to buy and flip. Which is why I wanted to hear the thoughts and opinions of the pros on the subject of buying SFR with the intent to rehab and rent or sell while living out of state.

Thanks everyone!

-Jason

@Steve Hiltabiddle Its a good sign that an old book is still coming across your path. I'm still waiting on the book to arrive, but im very anxious to read it.  

@Fred Moskowitz Thank you for the recommendation. I look forward to reading more on the subject.

Hi everyone, I am a newcomer to investing in general and as such have been trying to familiarize myself with all forms of investments that deal with real estate.  A week ago I learned about the concept of note investing and wanted to ask you all if there is any book recommendations that you might have.

Cheers!