All Forum Posts by: Jordan Thibodeau

I use a combo of Google Apps and Asana. Google apps for tenant contracts and saving digital copies of receipts and Asana to assign tasks to my contractors. 5 properties in 5 months, wow, that's quite a ramp up. 

HI @Kyle D. !

That depends on what type of tenants you bring into this location. If you bring in trashy tenants, expect tons of noise and problems. Is this 5 plex 1 or 2 stories?

Hi @Andrew Magallanes 

Short List in no particular order:

1. Curb Appeal - What does the building looking like? Will I be able to charge market or premium rents with this unit?

2. Neighborhood: Would my tenants want to live here? Or are they forced to live here?

3. Rents: What can a similar unit charge for monthly rent? I always factor in a conservative average number for my financial models.

4. Repairs: How much money will I need to spend to get this house up to code?

5. Terms Of The Deal - What's my bidding price? How low or high am I willing to go?

6. Time: How much time will I commit to this property? What will I do? And for the things I won't do, who will do them for me?

7. Comparison: What makes this unit special compared to the other X units I saw?

Best of luck!

HI @Scott Shafer 

I wouldn't mention anything about returns in your prospectus because things happen. If you mention returns, your investors will hold you accountable and might try to sue you. It's better to under promise and over deliver.

Do you have a track record for flipping houses? If this is your first flip, you would need to sell yourself by mentioning your experience in real estate (Rehabbing, organizing deals, etc).

If you're new, I would try to get a few deals under your belt before seeking the funds or try to partner up with someone. 

Low curb appeal.

HOA.

High Crime Area.

Major Structural repairs. 

HI @Adam Roach 

Welcome to BP!

You could always check Zillow or Trulia for local real estate agent reviews. The best way to find a good realtor would be to set up walk throughs of properties you are interested in an see how familiar the realtor is with a given area. You always want to provide the agent with your criteria, and if the agent continues to suggest you look at homes that don't fit your criteria, you know this isn't a good fit. Assuming your criteria is reasonable.

*Bump*

Hopefully the lawyer cats at BP will have an answer :)

HI @Russell Adams !

I don't know because I'm from Cali. Have you tried reaching out to a few mortgage lenders in the area? That would provide you with a good idea of who's good fit for your RE endeavors.

Best of luck.

HI @Matt Williams 

 welcome to the forums!

1. Check this link out.

2. Yes, against your rental income, so long as it's related to the upkeep of the house.

3.  Depends on your banker. My banker only counts rents from my current properties after a year of ownership and he will discount my rents by 75%. I would definitely build a relationship with a credit union mortgage banker and see what she says about this.

Happy Hunting.

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