All Forum Posts by: Michael K Gallagher

@Alauren Lane if you are specifically looking to house hack I found the podcast "house hacking success" very beneficial.  They have other topics of course but the hosts are fantastic and it is a pretty good place to start.  outside of BP obviously.  Good Luck!  House hacking in Columbus straight up changed my life in so many ways!  I had no idea by how much when I got into it, but the power of it will just compound over the years.  

Hey @James Townsend I am not familiar with the little rock market but looking at your report, I have a couple things to note, 1) you don't seem to have any expenses allocated to maint. repairs, prop management, vacancy, etc. So to be the most accurate you'll want to include those.

2) If your goal is to wholesale this thing, you might want to check out and use the specific wholesale calculator.  Additionally at $85K what does the property comp out at?  you mention its under market but buy how much?

Just my thoughts after reviewing the numbers.  
 

@Carl Cheung if you are planning to "office hack" this building then the returns may not mean as much to you.  but to address the improvements that need to be made and such, Its my expierence that the selling number does not matter to the seller as much as the "net to seller" so even though they want the $800K theres always room in there to ask for closing credits to address the things you are seeing on the facade of the building.

Additionally if you are worries about inheriting a vacant building or the whole building going vacant in my mind then you are analyzing the entire building and area as an investment, so what is the population trends, for that area, any data or comps on that asset class as far as per sf rents.  It's then a question of does this thing make sense if I have to operate it from the ground up basically.  But to other's points here, even if the numbers work and look promising having a lender lend on a building not producing any income or at risk of not producing any income will then be your biggest issue. 

 This is a fascinating concept to me and I'd very much be interested in finding out more do you have any recommendations on resources to dig into how the elite are buying/investing/etc in water? I'd be curious to learn more and understand the investment vehicles etc they are using.

Great Duplex @Sean Brauneller and people say there are not deals on the MLS anymore! great work and great best practices on screening. What overall trends are you seeing up in Findlay? I operate closer to central OH so always curious what else is going on in the state!

I prefer cool sculpting myself to maintain my girlish figure!  

We are seeing similar trends here in Central OH, active listing at record lows in highly desirable areas, with no sign of a slow down due to external economic pressures and development in the area. 

Thanks for the look into you market @Alan Walker
 

Interesting deal @Eugene Neal whats your estimate on rehab costs and ARV? I'm not familiar with the Springfield market so I'd be interested to learn your thoughts.

@Rob Kishi elaborate on what you mean by a "bitcoin -backed" mortgage.  Are you paying for the mortgage in bitcoin?  because unless your are paying for the real estate in bitcoin...you still need to liquidate into USD to purchase real-estate yes? 

@Eric Carr as a native New Hamshireite That does not surprise me in the slightest...that state is the truest form of of this country....they want their guns, their land, and their money, and don't you dare try and tell them to wear a seatbelt!