All Forum Posts by: Jeffrey Donis

Love the hustle! Good luck @Alejandro Stewart. Congrats on the first close.

You should find a local meetup (either on meetup.com, https://www.biggerpockets.com/... or eventbrite.com) and ask other investors who attend which property management companies they use. Word of mouth referrals will probably get you the best PM's in your area than other methods. And you get to network (bonus)!

@Ty Ottaberry I heard about this policy proposal when he was running, however, I do wonder about its political feasibility. I guess we'll see! 

@Jordan D'Silva It might not be a good deal, then. Unfortunately, if property management companies are turning it down, that's a major red flag. This might also make it hard to attract good tenants, and raise capital (if the market is notably high crime). 

You'll want a good property management company, because they're going to play a major role in the property's success.

Hope it all works out.

@Brian Jaime I know a few investors who had stocked up on supplies before, so they were able to weather the storm, so to speak.

However, it is still possible to flip. You'd just need to network and find suppliers who have reasonable prices. Also, perhaps accept that the spreads will be smaller than you might be used to.

Good luck! 

@Arthur Dent I agree with the other replies here. Comps will tell you what you can sell the property for. Once you determine the after repair value, you can look at the repair cost and see if the deal is worth it (ie if there's enough "meat on the bone")

@Gage Green I agree with @Sean Sloop. You should have a contractor walk the property with you. If you build a strong relationship with a contractor, they should be willing to do this with you for little to no cost. 

What we do for contractors is typically ask other investors in the same area.

You should find a local meetup (either on meetup.com, https://www.biggerpockets.com/... or eventbrite.com) and ask other investors who attend which contractors they use. Word of mouth referrals will probably get you a better contractor than other methods. 

@Walter Parker What we do for contractors is typically ask other investors in the same area.

You should find a local meetup (either on meetup.com, https://www.biggerpockets.com/... or eventbrite.com) and ask other investors who attend which contractors they use. Word of mouth referrals will probably get you a better contractor than other methods. And you get to network (bonus)!

@Audrey McHugh I'd encourage you to learn creative financing. This is subject to and seller financing. 

Subject to: https://www.carletonsheets.com... 

Seller financing: https://www.investopedia.com/t... 

These were game changers for us! Don't be intimated if they sound complicated. It'll get easier if you put in the work and learn it. Through these strategies, we bought two rentals with little money out of our pockets (because we bought them on TERMS!)

@William Gogolla You shouldn't force a deal. Be patient and make sure the numbers make sense. 

But, I don't think you should sit on the sidelines. If you are serious about investing, you should ALWAYS be looking for deals. That doesn't mean you'll always be DOING deals, but you should consistently be looking at deals. Don't stop marketing, and/or looking at potential deals. It might get harder, but there are deals in any market cycle.