All Forum Posts by: Michael Dumler

@Josh Feit, are you familiar with and/or open to investing in co-living rentals? As you noted, sourcing LTRs, whether single-family homes or small multifamily properties, is challenging due to current interest rates and market conditions. If interested, I'd be happy to review the concept and investment strategy with you. It's not for everyone, but co-living rentals can perform exceptionally well if implemented correctly. Needless to say, there is a demand for affordable housing in metro Atlanta.

@Haizel Allen, Atlanta Real Estate Meetup - next meeting, Tuesday, April 29th.

@Jackson Bailey, I'm sure I sound like a broken record because the advice I'm about to give is what I consistently suggest and respond to others similar to your position. However, while it can be debated, implementing the house hack strategy for your first deal is best advised. There are numerous BP posts, books, and videos that you can reference to learn more about the concept, but long story short, house hacking is one of the best risk-averse entryways into real estate and is a good building block to help you learn the ins and outs of being a landlord. 

Moreover, while I think there is something to be said about having a mentor, don't let not having one stop you from taking action. Needless to say, the essentials and almost everything you need to know/learn can be found online for free, so be mindful about whether paying for a course or mentorship program is necessary unless it is very niche-specific.

What space of real estate development are you entering? SFH development? Commerical? Industrial? I'm happy to connect and chat if you have any additional questions!

@Richard Shepherd, what's likely happening is that since this is such a small/inexpensive project, the property manager can't find a handyman or contractor to complete the work, or they have, but clearly, the vendor has no idea what they're doing or lacks a sense of urgency. I'm highly speculating/assuming, but I would not be surprised if your PM lied about the affiliate company scoping the home. The repair/replacement items you included above shouldn't take this long to quote. Do you have any further information regarding the PMs' experience or how long they have been operating? Moreover, where they a referral. Time to move on to a new PM, in my opinion.

@Suraaj Samanta, happy to connect! Our team is predominantly involved in the co-living investment space but also has experience in other traditional investment strategies if that's the route you're interested in pursuing. With that in mind, do you have a particular real estate investment strategy you're interested in implementing, i.e., small multifamily, short-term rentals, single-family long-term rentals, BRRRR, etc? Moreover, have you considered exploring house hacking if you don't yet own a primary residence?

@Paul Agbo, with this in mind, have you considered getting your real estate license? You essentially did a big part of the job that the real estate agent is responsible for—sourcing a buyer.

@Malachi Gutt, @Harrison Sharp is your guy! I'm not sure why BP isn't letting me tag him. Feel free to shoot me a message, and I'll connect you two. 

@Paul Agbo, so essentially a lead acquisition business model, or do you intend for it to be way more in-depth? BiggerPockets already has something like this in the above Real Estate Agent Finder tab. Moreover, numerous real estate investment Facebook groups and local meet-ups across markets exist, serving this purpose. Do you mind elaborating on the one deal you've completed thus far? Safe to say that the agent pays for your services. What is the cost breakdown per lead?

@Fawzi James Jr, I just sent you a message. If you're utilizing a primary home loan product with 5% down, you must reside in the property for at least a year.

@Justin Skeete, @Josh Bowser, Taylor Trupia should be able to assist with this!