All Forum Posts by: Michael Ferrell

I am starting my Real Estate Investing journey and I am looking at submitting personalized letters with each offer I make. Have any of you done this? If so, have you gotten any feed back or noticed that it has made an impact in your investing either positive or negative? Does anyone have an example of a letter that they submit that they are willing to share?

I am putting an offer in on a 4 plex and the current owner will not let me enter until we have an executed contract. What are your thoughts as investors on this? I dont think the renters have trashed the place but with out being able to enter I dont know. 

Good info Blake, thank you. I will expand my search to look for houses with MIL suites. I think it will be a little harder to figure out my cash flow with those though. 

Good afternoon BP! I am ready to buy my first investment property in the area. I am looking in either Pensacola, Fl (downtown area) or Panama City. I would prefer that it is VA eligible as I plan on using my VA to purchase it (yes it will be my primary residence). I am looking for a multifamily home with at least two door and between $0 and $320,000 (the cash flow is what really matters to me). I would want it to meet the 50% rule.

I have found a couple but the sellers agent is being difficult to work with so I would love to have more options. I have seen what is currently on the MLS, and as usual, it is very slim. If you know anyone in that area that can help please let me know.

I am open for suggestions, guidance, and lessons learned also! I am buying something soon I just don't know what yet!! Hahahaha

Thank you everyone!

P.S. 

I have bought homes in the past just never a rental. Also if this type of post is not allowed please let me know.

Carlos, welcome to BP. I live about an hour from Pensacola and I am also looking at multifamily units in that area since there are very little in my area (Destin / Fort Walton Beach). If you have time lets connect and talk about your thoughts on the Pensacola area. Any lessons learned would be greatly appreciated. Best of luck on your Real Estate endeavors.  

Maikeli, welcome to BP and thank you for your service! I agree that any good investment is better than no investment. If you do a little research on the front end and educate yourself on how to analyze a deal then you should be able to find a turn key that works for you. If I was still on active duty I would probably be using turn keys or a partner that will do most all of the work. Yes it is true that you could make less money but I would rather have 30% of a thousand a year rather than 100% of zero. Best of luck on your Real Estate endeavors. 

Alan, welcome to BP! Best of luck on your Real Estate endeavors. 

Jen, welcome to BP. There is definitely a ton of information on here. Best of luck on your Real Estate endeavors. 

Kourtney, welcome to BP. From my experience when I was a Realtor finding a good contractor is like finding a unicorn. My suggestion is to talk to some of the Realtors in your area. They tend to work with contractors if they have been in the game for a while and my have a short list of good ones. Try to get a few names and call and explain to them what you are doing and see if they are a good fit to help with a flip. Best of luck on your Real Estate endeavors. 

Phillip, welcome to BP. Best of luck on your future endeavors in Real Estate.