All Forum Posts by: Jordan Thibodeau

HI @Peter Grosso !

Everyone has their own style of learning about a new market. I usually preview numerous houses, talk to realtors/bankers, and go to real estate investing groups.

Happy hunting.

It will be great to see you all there.

HI @Krystal Adeoye !

"I desperately need to sell my property I own at," when us Humans detect desperation we either want to pull away from the interaction or take advantage of the situation. I for one, would then try to low ball you on the price.  

I would change that to (And please make revisions this is a quick draft):

1. Hi,
2. I'm a local wholesaler with a property under contact located at ____. 
3. This property has potential and in the right hands it could be an excellent flip. The title is clear, taxes are paid, and it's in good condition.
4. If you're interested in this property, please call me at ____.
5. Cheers,

Krystal

HI @Rick Fonseca 

I'm a noobie, but as for now, I would stick to buy and hold real estate. I enjoy owning the asset and not having to work through numerous leads on a daily basis. Also, I enjoy having the ability to create systems which help to maintain the properties without my constant input.

As for yourself:

1. Determine how much time you have available for real estate.

2. Determine which type of investing interests you the most.

3. Listen to podcasts about that type of real estate investing.

Best of luck.

Hi @Account Closed !

Congrats on pulling the trigger on two rentals! What's the urgency to flip so soon? Why don't you continue to save and then go for the rehab when you have enough funds? No need to over extend yourself. Time is on your side, you're in the driver's seat.

Cheers,

Jordan

Hi Adam!

I don't really have a great way of doing it, but I put in my market "Sacramento" and then I Put in my local city "San Jose." I haven't tried using "Rehab, Duplex etc" because I think those terms are used too frequently to be of any value to me.

Hi @Account Closed !

Depends on what your interests are, do you want to become a buy and hold investor or do you want to be a flipper? What's your relationship with your parents? If your dad loses his job again and he can't pay the mortgage, what's your plan?

Have you check out the bigger pockets rental calculator to see if your numbers make sense?

If you can buy this through a standard transaction, and it appraises, you should be able to purchase this with a FHA loan.

If the deal worked and cash flowed, this wouldn't hurt your credit, if anything it would strengthen it because you have a performing loan under your belt.

Cheers,

Jordan 

Nope. But I use Credit Sesame. 

HI @Alex Silang !

Besides homeowner insurance, I purchased umbrella insurance just to be safe. If the dues are within reason, it wouldn't hurt.

HI @Kim Gloor !

Looks like you are thinking about flipping this? Do you have a contractor you're working with? If so, has the contactor provided you with estimates on how much it will cost to make all of these repairs?

Also, does the house have any foundation issues?