All Forum Posts by: Mike Fingleton

Hello Emily! Fantastic to have you on board.. do you have a reliable team lined up, or are you still scouting for pros?

Hey Johann, having someone handle snow removal on a rowhouse in Jeresy City can be trickier than folks realize. A good friend of mine once dealt with a similar setup in Philly.. big steps, narrow frontage, and enough snow to give tenants an excuse to skip shoveling alltogether. They worked out a flat seasonal rate, then agreed on small “per-visit” fees for heavier storms. From what I’ve heard in a piece by Bloomberg, that’s not unusual in many East Coast neighborhoods... Lately, the Northeast can be all over the place..one year you barely touch the shovel, the next year you’re drowning in snowdrifts.
With four units, the liabilty is no joke. Some people who already handle plowing or sidewalk clearing nearby might give a better deal if they live just down the street. Curious.. do you think a flat rate for the whole season feels more convenient, or would you rather pay per snowfall to avoid paying for a mild winter?

Hey James, what a col project! Four acres for a young family sounds like the stuff of cherished memories and endless possibilities. You’ve already taken a decisive step by proving your reliability to friends and family, which is huge. Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.

I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals. From what I’ve heard in a piece by Forbes, focusing on unique features can lead to higher long-term rental satisfaction... especially if your tenants want a few animals or more outdoor space. I’ve personally found that specialized property perks can create stable, long-term renters. Sometimes folks overlook how real prce apprecation can be impacted by having acreage that’s not typical in suburban areas.

In Phoenix, where I’m based, a lot of us collaborate with local probate attorneys who know about hidden opportunities that never see the open market. All channels can work in real estate, though some pan out more often than others. Curious.. do you think you’ll try a different approach next time, or stick to this model to keep the momentum going?

 Absolutely! Will send you a message now.

Hey Paloma, congratulations on diving into your first flip! It’s a huge move, and you’re already starting off strong by asking questions and soaking in as much knowledge as possible. The Bay Area can feel intimidating when you see those price tags, but with your husband’s contracting skills, you’ve got a real advanatage. One of my close friends in the busines had a similar setup.. her husband was also a contractor, and together they tackled a fixer-upper that ended up netting them a solid profit on their first deal.

When you’re hunting for the right property, I’d lean on a realtor who really understands investor math... someone who’ll help you break down potential cash flow or resale value. (I recently saw an article in Forbes talking about the Bay Area’s shifting market) And if you aim to hold properties long term, keep your eyes on towns around the Bay that have had consistent rent growth.

Here in my home market of Phoenix, I see investors branching out to places like Austin, Chicago, and even Omaha from what Ive heard because they recognize how trends can shift quickly. On the tax side, you mentioned wanting to roll profits into new deals. I’ve seen many investor clients use 1031 exchanges effectively.. just be sure to get specialized tax advice. And as you diversify, remember the power of your network. Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.

So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?

Yep, exactly! That sounds like a solid plan!

Hey @Kirti Mishra  great to see you diving in! I’m out here in Phoenix, AZ, where I’ve been investing and helping investors for a couple of decades. Many of them invest in other States too like Cali, Omaha, and of course, Texas. One thing I’ve learned is that “great deals” often don’t just sit around waiting... it’s all about knowing your goals and matching them to the right market. Just last month, a good friend of mine worked with someone who snagged a fourplex in Austin that needed some TLC, but the area’s been seeing a steady rise in rents, from what I read in The Economist, so it became a strong cash-flowing property not too long after.

I love multifamily deals because you can spread out your risk across multiple units. Every market.. from Omaha and Chicago to Phoenix.. has its unique quirks, so if you narrow down a region and strategy, you’ll quickly see a path to real returns. I recentl saw a place in Chicago that was undervalued only to jump in price once the neighborhood started picking up, from what I’ve heard.

I’ll shoot you a quick connection request so we can connect offline and talk through a few options, but I’m curious: if you found an ideal property tomorrow, how prepared would you feel about pulling the trigger?

Chris, you’re on the right track asking about permit timelines.. I’ve seen too many new builds stall because no one spotted the red tape early. Dennis' dad and I actually tripped over something similar back in Chandler.. we learned to tap into city planning websites and even call the permit offices directly to get a real sense of their backlogs. Another trick from investers I’ve worked with is chatting up folks at local meetups who’ve recently navigated the same municipality.. they’re often happy to share how fast or slow things move. Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down. I hope that helps.

Hey Chris, welcome to the Valley.. and what a leap you’ve made, going from the East Coast’s fast pace to the wide-open spaces of Gilbert and Phoenix! I’m reminded of a buddy of mine who moved from Brooklyn to Scottsdale.. he initially thought the desert was just cacti and scorching heat, but soon realized there’s a thriving market here with pockets of real oportuntiy.
Working with an investor who’s ready to spec build is a fantastic way to dive in. If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds. I’ve seen folks pivot their plans quickly if they discover one city has friendier permit processes than another.
And yeah, the Phoenix area has some really down to earth investor meetups, from what I’ve heard, that can help you level up fast.
What aspect of the business are you most excited to tackle first.. managing construction, or scouting out those under the radar leads?

Hey Morgan, that’s quite the puzzle you’ve got.. but also an intriguing one! I’ve seen deals like this before where a seller needed quick cash but was still emotionally tied to the place. A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.
If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause. Hard money isn’t cheap, so bridging that with a seller carry might help you short-term, from what I’ve heared. Also, what if you spend thousands of dollars on a brand-new DADU, only to have the seller reaqcuire the house?
Before you sign anything, definitley pin down the timeline for permitting and building. And no matter what, keep an eye on how your financing structure lines up with your exit strategy.
Where do you see the biggest risk.. sinking money into improvements or letting the buy back linger too long?