All Forum Posts by: Munir Hassan

@Jessica Costa that would be awesome. How long have you been investing there? I’ve been seeing a lot of great deals in the area but it’s really far from me and I don’t know what the market is like. I assumed it would be smart to purchase close to the college and get a property manager.

@Brian Van Pelt yes of course. But how do you run the numbers if the comps are not there. I would assume banks have a solve for this since they have to do appraisals.

I am looking at a 3 family, listed at $650k

- bed 2/2/2

- bath 1/1/1

- fixer upper

- 2800 square feet

After seeing the property I realized the agent was calling a dinning room a bedroom, even though you had to walk through it to get out the house. Really it’s a 1/1 on all floors in my opinion.

Comps in the area show two three families sold in the past 12 months.

Comp 1: $650k

- bed 3/2/2

- bath 2/1/1

- 3200 square feet

- needs work

Comp 2 $570k

- bed 3/2/3

- bath 1/1/1

- 2700 square feet

- needs lots of work

All the other properties sold in the area are either single family or 2 family homes. These don’t seem like good comps to me. In this situation would it be reasonable to use a 2 family as a comp and use a cost per square foot to account for the additional square footage in the 3 family?

Thanks @Justin Rank there have been a few properties that look enticing but I knew there had to be something. I was also thinking to stick close to the college, but that is a good point regarding a neighborhood expert agent.

Is anyone in Massachusetts investing in Fitchburg? Seems to have some cheap properties but not familiar with the market. 

Hey @Chris Mason - So you’re say educate yourself (through practice and research) until you’re able to make quick assessments on properties?

Just starting out and it seems like everyone gives the same two pieces of advice that seems to be conflicting. Get as much education as you can and learn to analyze deals, which is followed by don’t get analysis paralysis. My question is, where is the line between productive education and education for procrastination?

@Donovan Rogers I’ve heard direct mail is a big hit. How you generate a list, not sure. Foreclosures? Short sale lists? Walking buy ugly homes and taking down the address? Probably some or all of that.

Hi @Alma Gomez there’s nothing wrong with venting but it may be more productive to focus on the lessons you learned instead of the prior teams screw ups. I’d focus on how those lessons will make you a better investor and help you identify the qualities you’re looking for in teammates who can help set you up for success.

It can also be a turn off to a potential team member when they hear you bad mouth past partners. 2cents

Hey @Garrett Jensen I’m pretty new myself but if you don’t mind, here is a subjective idea. I’d recommend finding some deals, running the numbers and presenting them to investors in your area as a partnership opportunity. I think that would peak more people’s interest. It could also help you build a network of investors in your area who actually invest.