All Forum Posts by: Justin Kroepfl

Congrats!!! Grea to hear how you kept fighting against the odds! Like many others have said..wash, rinse, repeat! 

@Joel Ownes Thank you for the input. I had not thought about doing a JV with a foundation contractor. THat is a great thgouth and something I will definitely consider depending on the cost of the repair. I have reached out to a few places to get quotes and see where they come in. I received some info that there had been a quote of 110K but I think that seems insane to me. Most of the houses in the area were built in early 1900's and sit on a rock wall foundation with at least a partial basement, which is the case with this one. I would think due to the age of the area that this is fairly common feature that needs repaired. I appreciate everyones feedback in this post! I will make sure I post an outcome!

I have been looking for quite some time to find my first rehab in my area. I found one that is in an up and coming neighborhood and could bring in a significant profit, but............we noticed and have since found out it may need significant foundation repair and possibly replacement. My question is: has anyone ever gone through a foundation repair or replacement before and if so was it worth it? Does anyone on here know what an average cost might be? (I know there are tons of variables...just looking for a round about number). Any help would be greatly appreciated!!! 

@Fred Marquez I am currently creating my first direct mail campaign using LIstSource.com. This seems to be the most commonly referenced compnay on the BP Podcasts. I let you know what my results are in a couple months! 

Welcome Rance! Glad to see a lender being active on here in the BP community. I am an investor in the Spokane area and am currently seeking funding a couple of projects. I will message you for some more details! 

Hi Fara!! I am in the Spokane area and have purchased a couple duplexes out here over the last couple of months. From I have seen there is a good amount out here in your price range but they are not typically in the best shape at that price point. Are you planning on using an agent? I know a couple good ones out here that understand investor needs. Good luck!!! You are for sure starting in the righ tplace here on BP! 

What Joshua wrote is correct. When the properties are purchased as a package it often shows the full purchase price of the package rather than the individual. I just purchased two duplexes in Spokane as a package deal and that's exactly how the county website shows the price.

I went to the site and entered my info. Hope to hear from you soon. Currently working on getting a couple properties under contract and will be in need of your services. 

I just got my 2nd and 3rd mutlifamliy closed and I am looking to work with soneone on the insurance side that understandsthe needs of a real estate investor. I am also working on getting some flips going so will need lots of different coverages. If anyone has someone in my area that they have worked with I would greatly appreciate it! 

Thank you!!

I spent the majority of last year learing and listening to podcasts here on BP. I came into 2016 with the goal of purchasing 5 properties and really begining to grow my business. I took the leap and purchased my first duplex in January which I posted about earlier this year. I was so pumped I imediately began my search for the next property. I found an agent that had a good understanding of what I was looking for and she found a seller looking to unload both of his properties locatedon the same block. A quick look at the numbers...final accpeted offer was 224,600 total for both and each unit rents for 700 brining the total cash flow to $2800 gross. I used the BP calculator to run numbers and I new I was looking at about 10% Cap which is good in my area. The biggest plus is they are all rented with long term tenants and have been updated. Very low maint. and located in great a neighborhood close to the base. All in all another great experience and I am on to my next property!!