All Forum Posts by: Luke Hine

Looking for a general contractor in Rochester NY to look at a potential flip with me. Need some estimates, this will be a full rehab.

Hello Kevin Blakeslee !!! I agree with building the team. Message me for details on the lending side, there are a few option you have as an owner-occupier for small multi-fams.

Realizing how competitive the 2-4 family market is in Rochester NY, I have been analyzing more single family foreclosures in an effort to broaden my opportunities. Learning about the brrrr method was intriguing and makes sense for someone who is trying to get his feet wet. I recently listened to a bp podcast from April I think, which the guest talks about how he made several thousand calls before he finally got his first deal. My question for the forum is centered around calling on pre-foreclosures, or other possible flip and hold deals before they're on the mls. How does one do it? The white pages, door knocking? Plus, once you get in and can make an offer, what logistics are involved? How do you know what you're offering will satisfy what they owe on the house? Thank you all in advance for forgiving how naive I am.

In regards to the areas which one is looking for vacation deals: is checking vrbo or home away the best way to check if properties are being consistently booked out? I'm finding that around the finger lakes in New York, certain lakes aren't consistently booked out for the summer at this point already.

Mark Swim 50% is huge! I was going to say I planned to manage it at first and then eventually use a company. With 50%, there would be almost no profit if you're like me and need a mortgage. Thanks all for the information. It's really appreciated. I am trying to put together an analysis template specifically for vacation rentals so I have something to use when analyzing deals. This is all useful information I can use for that purpose.

After getting the hang of analyzing 2-4 family properties, I'm starting to look at some vacation properties as well. What are some of the added expenses you deal on a vacation rental? Off the top of my head I'm thinking HOA fee - if it's a condo - and weekly cleaning expenses, increased vacancy during off-peak, etc...

Thanks Mark! Appreciate the info and will check it out.

Just getting into the game, getting my financing in order and starting to analyze some deals. I was wondering what, if any, online tools people are using to know what units are renting for in a certain area. And if there is something, should that rental price always be what you use when analyzing a deal, or should you always ask the seller/listing agent what the units are renting for?