All Forum Posts by: Sean Gallagher

So I found a good deal, the numbers work but who is to say even if the property is listed at fair market value I will have any tenants interested?  If the demand isn't there I could be in trouble.  What factors can I take into account that may assure me I would be ok, is there a population or statistic?  

So I'm in a semi tough spot.  I have 3 vehicles, 2 of them are part of my growing hobby. I'm storing them at my parents garage  2 hours away and work on them when I have time. They are moving in the spring and selling their home.  I don't plan to stay up here forever but as I move around I'll never find an affordable place to work or store numerous vehicles.  I'm living in a town home.  So my thought was how to invest in something where I can store my toys and make out in the end. Buying a small lot and putting on a large pole building that I can divide up into sections?  Rent a side out etc.  Renting a large building for myself would cost 750 a month, and it goes up from there depending on area.  I'm not looking for the upkeep on a house especially since I move around a lot.  I just need a good spot to make a nice dedicated storage. Ideas?  Sorry if it's a long run on sentence.  On break at work have to get back to it.  Ready for thoughts!

ok so I can use the inspection contingency in my favor and say i've made an offer on 5 properties and 2 were accepted, I check them both out and the one I dont want I just go.. ehh my inspection didn't go well.  I guess I could dislike anything in that scenario 

I suppose there is a little more to this then simply running around and throwing numbers out there to listing agents.  Does an offer have to be submitted in legal binding contract form so that the seller could sign if accepting the offer?  

For instance say I don't have time to check out a property and from what I have see so far from pictures etc I want to get an offer out there to get my foot in the door, knowing my bottom price to test the waters before I have a shot to go actually view the property.

I assume I have to work through my agent to make the offers for me? Speaking properties on the MLS.

Yeah I will have to start making offers and hope one will get a bite while looking at comps in the area and the details of the short sale.  The agent I'm working with is really nice, will have to get some more knowledge on their background in dealing with investors.  I imagine an re agent who deals with many investors, its all about who can close the fastest.  I have the money part, and now is finding the deal part!  

Any luck with auctions?

I was told some properties foreclosed the people who get first dibs are those in not for profit organizations and federal.  Odd

Well I'd like to capitalize on a homeowner who is in a tight spot and needs out, or has already been run out and their property was taken over by the bank.  The property can need some repairs but I'm not looking to get too crazy as in replacing part of the roof or re-wiring the whole house.  I typically prefer a newer property, some interior work and exterior work needed isn't too bad.  I just want that good price to get me in a good spot.  I guess the key would be to drive around and look for properties that seem to have vacated and catch it asap.  

I've been working with an re agent in hopes to find a property below market value with good investment potential to hold onto for a little bit then rent out.  It seems that the really good deals, certain people have first dibs on them?  Like whats the best approach in finding a deal?  It seems that us investors are in a war with who is going to snag the deal first.  Competition seems to make things that much harder...