All Forum Posts by: Keisha Andrew

Thank you @Bill B. @Terry Lao @Stephan Kraus I really appreciate all of your input.  I'll definitely take the neighborhoods into consideration.  I was told by a local realtor to try and stay west of 15 and I should be ok :) I plan on getting a short term rental and doing some on the ground searches until then.

Hello BP!  I am planning on moving to LV and want to buy a fourplex as my primary residence. I've noticed that there are plenty to choose from and was wondering what areas should I avoid? It seems like which ever one I want to pick, I will most likely get a cash flowing deal. Not like that here in Portland though! 

Thank You!

Beautifully finished, amazingly worded. Love the execution and the courage! Keep it going. So much inspiration packed in to your post. Best part is the lessons learned. Thank you for posting 🙏🏾✌🏾

@Aaron Xie Hello! The best deals are the ones that aren’t advertised. The MLS, in my opinion, is simply advertising to get top dollar for a home. If you find a deal on there, it’s because the agents priced it enough to get a bidding war going. Build a network of agents, property managers, wholesalers, and even construction companies. These people will definitely come across any deals first and you want to be the person they think of immediately to refer when they have a client that wants to sell.

@Justin Nagy You could buy it from him. Apply for a conventional or FHA loan. Sounds like you would have gained some equity in the condo and could purchase it for less than the appraised value. Banks love to loan on this because of the instant equity. You then have to live in it for two years. If you need money you could always get a HELOC. If you don’t want to live in it you can always purchase it as a rental property. Unfortunately there is no way to get past the taxes when you sell right now. Contact a local accountant or agent that works specifically with 1031 exchanges, they will definitely be able to let you know exactly what to do.

@Brian Christensen Fear can make a person do things that are unimaginable. Sometimes home owners just ignore the problem knowing that they have plenty of time to default before actually getting the eviction. Anything that has to do with your home is a very emotional experience for lots of people. If you are really interested just have an honest conversation with the home owner and get creative with your offers. Most investors unfortunately can come off just rude. Being genuinely nice to person can go a long way, hope this helps!

@Alex Shin Brokering would be getting compensation for setting up the buyer with a seller. You definitely need a license to do that. Wholesaling would be putting the property under contract which could make you liable for purchase if you could not assign the property. Not sure about CA laws, but there’s definitely a fine line that can get blurred when discussing wholesaling/brokering legality. You should definitely not market a home that you have no interest in. Investors unfortunately will snag a deal right under you if it’s not under contract. Just to save yourself trouble it’s easier to have it already under contract, it’s easy to market a deal.

@Brian Davis Thank you so much for sharing!

congrats! That’s an awesome deal. Hope you have many more that are just as amazing!

@Sean Doherty I would recommend using an agent. If the FSBO doesn’t want to pay a commission then you will have to pay this yourself as the buyer. Even if you don’t end up using an agent, choose a great escrow company that will be able to answer all your questions. They may have state contracts on file for your use if you work with them. Having someone with knowledge in the group is better than both parties playing a guessing game. Home purchase is something I wouldn’t cheap out on. This might be a great deal now, but later on you may find some troubles and it’s a nightmare getting a hold of the seller later.