All Forum Posts by: Patrick Hermans

@Greg Lindor does he have any money of his own invested in the project?

@John Moon I share everything. There is no way anyone will win if either of the sides in a transaction are holding back information. I will show my numbers and tell them how high I can go while making it an investment that I would be willing to take on. If they dont want to sell at that price, then its not the right investment for me. If my number isnt what they want, then we wont be able to come to a deal, so I dont want to waste my time trying to force a deal that wont happen. Im an open book in negotiating, it either works for both of us, or it doesnt. 

The ARV needs to be assessed using a CMA. Youll want to look at recent property sales that compare to yours. The further ahead you try to predict, the less accurate you can be,

@Rebecca Belvin Get a copy of absolutely everything and introduce yourself. The best think a landlord can do is create a friendly relationship with the tenants. Happy tenants stay and pay. 

@Mark Pitt The biggest problem people run into is, trying to do everything instead of outsourcing the weaknesses and doubling down on the strengths. 

@Michael Locicero Long Island will be very hard to invest in because of the prices, like you said. With that being a high budget area, house hacking is one of the few ways to enter the market there, but you also cant expect to find many deals or even deals that will support the mortgage insurance premiums. 

@Greg Lindor When lending someone money for a flip, or any deal for that matter, there should always be at least some skin in the game on the other side. 

@Adonijah Short It is reliable as long as your repair estimation and your ARV is accurate. And calculate closing costs and realtor fees

@John Moon Agents will do that to try and drive of the offer price on the property. My advice would be to do your own evaluation and tell the seller your offer is based off current rent. They might take it. 

@Angie Briggs Are you looking to rent to students?