All Forum Posts by: Nishi Lagoo

That's great. I will send you a dm. 

appreciate your help. 

Thank you Giuseppe. Are you investing only in Florida?

If you dont mind, I would like to connect over a call and talk about the market. I intend to invest from here, so I will need a good team in USA.

Thank you Arman. That'd be great! I would really appreciate it!

Hello everyone, 

I used to live in Houston,TX and invested in 2 properties there. I moved to Canada few years ago and the real estate investing seems out of reach. I am interested in connecting with other Canadian investors investing in USA.

@Dominique B. Great job. Looks like a great deal.

@Ron Singh I did buy the property without a lawyer from the wholesaler. I met with the wholesaler and personally saw the property to make sure I wasn't making a decision blindly. The process went smooth, I had some help and guidance from my lender since this was my first purchase. I still own the property after 1.5 years and is rented out since Feb 2018. We finalized the deal in End of Oct 2017 but didn't get the possession until mid November. Rehab took almost 45 days and one month to list and rent the property and refinancing in March 2018.

Below are the stats on the property:

Purchase Price: 98K

Rehab: 20 K 

ARV: 180K

Rent: $1650

The biggest issue I faced was with the appliances (All upgraded by previous owner) in the house which were running at the time of renting the house started breaking down one by one.  I had to replace Microwave, Oven and refrigerator (all in built in cabinetry) within a year. Other major expenses to the property were the fence (shared with the neighbor who was unresponsive and unwilling to share the cost to replace it) and trimming large trees in the front yard and back yard. 

Hope this information helps and wish you luck with your investing.

Looking forward to attend this meetup and connect with seasoned and new investors (i am a newbie too).

Closing on a flood property myself by end of the month. Great opportunity to get more insights out of this.

 Great Advice. I did my due diligence on rehab price and comps. I have few GC contacts that helped me with these numbers. And I am using all worst case scenario numbers here. I really liked the idea of vetting the wholesaler. I googled his company and found few reviews but that's about it.

Thanks for the help.

 Thanks for the great advice, that is exactly what I was looking. I will do some research on TREC contracts and assignment form before moving forward. I understand there is some risk with going forward with wholesale deal and this being my first investment, I am excessively cautious. Thanks for offering additional help via DM. I would definitely reach out if I have more questions.