All Forum Posts by: Michael Junior

In the event that you win a bid, place the deposit go under contract.. and you can’t get the funding for whatever the reason may be. Is there any penalties you face other than loosing the initial funds you placed on deposit? For example does this mess up your credit? Being up legal issues?

Hey all, Just looking to reach out to any and all investors- mentors in my area. I’m just staring in REI and I want to build a strong efficient team. Want to see who’s in my area and who’s looking to network. If you or someone you know is in my area- surrounding area drop me a line. Let’s make some deals!!! I live in Danbury, CT. Looking to invest in Danbury,Bethel, Newtown, Fairfield, Norwalk, Stamford, Greenwich and surrounding. Look forward to hearing back.

@Grant Rothenburger cool thanks for the info brother will deff check those out as well!

@Joe Villeneuve so say I want $500 cash flow on my property after all expenses are paid. My Model is correct? Simply add all expenses up- deduct the rent. If I have $500 left over I’m hitting my goal?

Hey can someone just either fill me in.. or point me in the right direction. How can I asses wether the deal is good or bad. Someone please break it down. I understand you need to run the numbers. The way I under stand is to total up all your expenses.. then total up the annual rent brought in by tenants. And deduct the expenses from the rent and if there’s money left over.. your in the green. Soild deal assessing or am I completely off? That seems to simple!

@Johnny Napier thank you Johnny, your plan worked out well. Idk what I was scared of in the first place! Very simple task and the second house I hit.. the owner was actually looking to sell within the next few months!

@James Galla thank you for the insight brother ! Got any good deals kicking right now??

I’ve been looking at deals in my area, Fairfield county Connecticut. Very expensive and competitive market( as is everywhere else im sure). I have Yet To purchase My First piece of property. Running the numbers in my area compared to lets say for example.. Burlington,NC. The margins for cash flow 1. Look greater in NC. and 2. Purchase price of these properties are less than half of what I’m looking at locally. So lower buy in.. higher cash flow.. Am i missing something or does it not make much more sense to dive in OOS of the rip? So basically im sayIng with no hard experience besides BP podcasts and plenty of other self education.. is it too risky to invest OOS ? Or if the numbers work just Nut up... thoughts??

@McKinley Carbone thank you thank you

@Shmuel Waldman can direct mail be me seeing a house while out cold calling.. writing a letter on the spot and dropping it in there mail box?