All Forum Posts by: Jedd Braunwarth

Ross Van Wyk ask a local RE agent. They should be able to get you all of that info. Are you looking in ND to invest? That market is over inflated but I am sure you already knew that!

Lukas Briggs either way you chose you'll need money to get into real estate investing. How do you see yourself making this money? I am assuming it will be a job of some sort so you must ask yourself will a degree help me get the job I want or not. If you want to work at a gas station probably not but if you want to work as a CPA or any other professional type job the cost of tuition will be well worth it. Figure out yourself what it is you see yourself doing and then fill in the pieces after on how to get there.

Matt Neef welcome! What are you hoping to do in real estate? Many options to choose from, which is what makes this industry exciting.

Ayodeji Kuponiyi sure, seller financing is very possible but only some sellers will offer. I think, unless you know the seller or have something to offer, no money down will be quite difficult. Not impossible but again it will depend on the seller. I'd never sell one with no money down. I need some cash to make sure someone is serious and for potential damages, the risk id be taking, etc.

Jeremy Tillotson I agree with everything you said. I am not full time with RE but have a few rental properties in which I love the hunt to get more. I just did a complete rehab on one over the summer! Yes, very time consuming and sometimes stressful but I love it. Further on what you said, I have no problem working a job as long as I enjoy what I do. When I enjoy something I don't keep track of the hours involved. I am actually negotiating on buying into a company and that in itself will create a job for me but I am excited to create that job as I like the company and what they do. I'd go crazy not working.

Mary Ann are you seriously considering this deal? If so, tell us more why? Seems like a high risk "investment" for multiple reasons. You don't know the area at all, know nothing about real estate nor rental laws in another country, have nobody in Brazil for help, this is your first venture into real estate and don't have enough money to come up with any down payment on a $60k property. Do you have enough money to make a couple months of payments if you have no rental income from it? Not trying to sound harsh or pessimistic but just trying to be realistic.

Shane Caraway I am torn on the advice to give on this one. What if the furnace goes out shortly after you buy it? Do you have $5k to replace? You have no maintenance/reserves built in to this. You will have maintenance each year and will have to ce up with money for high dollar items eventually like furnace, AC, roof, driveway, sewer.I think the deal only sounds good because it is no money down. I personally wouldn't do this deal. I have a house that I am closing on next month that I am buying for $31.5k, ARV is around $100k with $15-20k in repairs. So around $50k all in. My partner and I are all cash on this and first debated keeping it and renting it but market rates are around $1000-1200 and to me those margins are too thin. Even worse if we'd refinance to pull our money back out. We are flipping to sell.

Lynn Harrison I am confused, are you concerned that water will permeate through the marble counter? I don't think that this will happen if it is a solid marble countertop. Skip the liner, install the sink and counter correctly, caulk all seems and you should never have a problem. As the other poster mentioned you could take steps to waterproof the electrical panel too.

@Jeff Libby I plan everything out first with a budget and ghantt chart to make I am tracking everything and not going over time or over spending. I do all inside work at once or all outside work at once. Here in Iowa it is pretty dependent on the time of year that you do outside or inside first.

I do flooring almost last as that is a wear item and I don't want to get paint, drop tools, etc. on my new flooring. I can always touch up the paint on the walls if I get a scuff putting flooring in. Order: Gut the entire property (if needed), plumbing/electrical, walls, paint, fixtures, flooring, final clean/touch up, rent or sell...

@Long Khang are you familiar with DSM or what makes you interested in this. I am pretty sure I know what one this is so here are my thoughts: make sure you are comfortable with the area and know what you're getting into, prop mgmnt will be higher than 8%, maintenance will be a lot higher too. Who provided these numbers and have you seen the property in person?