All Forum Posts by: Nathan Platter

Another item to consider, @Vincent Meoli , is that you appear to be an Accredited Investor (earning $250k+ the past 2 years) If that is indeed the case, you are eligible to invest in more kinds of deals, specifically Syndications. They often offer higher returns with less time required on your part to operate the deal. 

Sounds like you're looking for both supplementing your income and also achieving time freedom.

Welcome to the community! House hacking is absolutely the best way to start and you start making connections with realtors, contractors, and learning basic property management skills.

Definitely take advantage of all the free content on here, especially the  Finding Deals and the Strategy sections. 

Hi @Jose Alexander ,

This seems like a decent deal. If the house is worth $200k and he wants $105k, that's $95k of Gross equity for you. You'll have to do trash removal ($15,000) and then renovate the house, but you should still profit nicely on this.

Am I missing something?

Hi @Daniel Highsmith , 

one of my favorite websites is the ESRI.com Zipcode lookup. It provides data/stereotypes for different neighborhoods. It helps give you a feel for the neighborhood, as in the type of resident.

http://www.esri.com/data/tapestry/zip-lookup

Example: 35801

Young, mobile, well-educated, and well-employed, we are more likely to rent in low-density, urban neighborhoods throughout the country. We go online for professional networking, online dating, and blogging. We buy natural, organic, or environmentally-friendly products.
Click for More Details

We are young, either still in college or working, and renting apartments in large multiunit buildings in the city or the suburbs. We still keep in close touch with family. We are very image conscious and often buy clothes impulsively to look good. We are really into music.
Click for More Details

Hi @Darrius Leach ,

In the Education section of Bigger pockets, there are hundreds of articles relating to  Wholesaling as well as  Finding Offmarket Deals. 

Enjoy!

Folks that may be able to help:

@Kendall Erb

@Jon F.

@Sean Richway

@Amy Ranae

I'd start with calling bandit signs on the side of the road ("We Buy Houses Cash...")

Also, do some online searches of "Sell Minneapolis House Cash", or "Sell Maple Grove House Cash" for a few cities. The most active (SEO-friendly) companies will pop up, and those wholesalers are constantly finding/buying/selling inventory.

My personal favorite is networking with other house flippers. I ask them, "Hey, there's no way you found all these deals on your own. Who's feeding you deals?" and they'll often point me to one or two of their wholesalers.

Hey @Wesley Mitchell ,

Sounds like you're indirectly pursuing the  BRRRR method; acquire a property, improve it, then refinance and get your money back (in this case it'd be 75% of the ARV after improvements) This would help you keep the house as well as attaining funds for your next investment.

https://www.biggerpockets.com/renewsblog/category/...

Hi @Ashish Khera ,

I used to work with a Turnkey provider and that's the exact acquisition model we used; Buy all cash and then refinance after owning the property.

Primary downside is your funds are temporarily tied up, but getting inventory faster is the major advantage.

Hi @Andrew Assman ,

The duplex/triplex/quadplex market is indeed quite competitive at this point (March 2018) I'm helping a friend look for deals on MLS for that same property type and the last 'good' deal we liked had 12 showings in 2 days with 6-7 offers.

For you, I'd recommend looking for 

1. deals off-market, or
2. break-even in great neighborhoods, or 
3. properties that you can improve/renovate

I did #2 and did quite well due to neighborhood appreciation.