All Forum Posts by: Melissa Barnard

Unfortunately, you will find this a lot with REOs! At least this is what I see in the DFW market. Put in the offer of what works for you though, the worst thing that can happen is they do not accept it. 

Using TREC forms is the best way to go because everyone is familiar with them and it covers most every issue in reference to liabilities. You'll just need to get an additional assignment contract. It is a very grey area being a realtor and wholesaling but if you are completely honest about what you're doing and disclose it within the contract then you should be fine. At the end of the day you are selling a contract and not the property if you are wholesaling so that's why it is technically allowed. 

Hey @Tristan Goff you can make friends with a realtor and have them runs comps for you or if you are using a realtor to buy your first property then they will definitely run comps for you.

A way to do it by yourself is to go on websites like Zillow, find some properties that are within a mile radius of your subject property, and that have sold within the past 6 months. You can learn a lot from these in comparison to features, extra rooms/garages/bathrooms, etc (try to keep them as similar to your subject property as possible). See what you can adjust from the features you find but in general you can take a rough average of the sold list price of the comps you find. 

@Erica Morrow it all depends on your personal wants and needs in reference to your investment strategy! I think it's a very wise thing to do for your duplex strategy. House hacking can be the perfect way to get your foot in the door. If you wanted a more laid back investment strategy then you could invest in SFH, live in it for a year, then rent it out and repeat but you could also do the same for duplexes and potentially have more rental income.

Hey @Charlotte Dunford I think you've got a good strategy so far! That will help to find a buyer but to solidify that you could do some small renovations within that time-frame. Then when you sell it at a higher price everything is justified. 

I'm not 100% if you are required to have one but aside from that I would highly suggest creating one just for liability purposes. Real estate is a crazy world so you never know what can happen. Good luck!

Wow, this is great!! Would've fooled me that this was your first, congrats!

Of course @Rory M., don't let people get in the way of your dreams :)

I'd love to shoot for 2% but that is also nonexistent in my market! However, there are some that you can find for 1%.

Here in Texas, if you are not putting in blind offers, especially with small multi family then you are not going to be purchasing many properties! It is still a tough market so I would say in reference to that you need to have an abundance of offers so you have a better chance of one getting accepted.