All Forum Posts by: Andrew Syrios

An $80,000 tax bill on a $380,000 sale is quite the hit to stomach. I would definitely lean toward doing a 1031 exchange here. The property you've picked looks like it won't cash flow, but you have up to 45 days after the close to select a property (up to three actually) so I wouldn't necessarily settle for that one.

Quite the deal, and sounds even if needed rehab. Well done and good luck!

That's awesome, congrats Maranda!

Welcome aboard Justin!

It's good to find potential buyers (i.e. build your buyers list) but virtually no one is just going to take your word for it that the property that you will get under contract is going to be a good one. They'll want to see and evaluate the deal you bring them before making an offer.

Welcome to BiggerPockets and best of luck investing Mikhail!

My dad built his business on student rentals. They used to be more of an undiscovered market, but they are still a good way to make money. I wrote two articles for BP a while back you might find helpful:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

Start with friends and family. Try to write down 10 people to talk to who might have money. If you can get to 10, then go to 20. Then try to set up a lunch. Write out a business plan and brag book with any previous deals or experience (biz degree, real estate agent, whatever you can think of if not actual deals). In addition, start networking at real estate, business and other such events. Always give your "elevator pitch" explaining what you do and offer but without being pushy. If they seem interested, ask them to lunch and explain the process. It takes time and is definitely a numbers game, but it's definitely worth it as private lenders blow hard money loans out of the water.

Do curb offers mean your EMD is hard right away or you can't do an interior inspection?

Welcome to BiggerPockets and best of luck investing!