All Forum Posts by: Skylar Dejesus

I see a lot of investors on BP state that they have came into contact with other BP members in their area or have engaged in deals with them over the phone. I would love to have a relationship like that with another member whether we are working on deals together or just venting about our trials and tribulations.

I am looking for a mentor/friend or peer to talk to in the real world. It would be a dream to partner with someone on a flip. Or help someone from out of state buy a good buy/hold property or potentially partner on buy/holds. I see tons of investors stating they would like to invest out of state. I think I could help some investors in regards to that. I live in an area that is a growing city but investment property prices are quite reasonable compared to national averages. I am very educated and experienced in the buy/hold strategy of the REI. I have whole sold one property and can get better at that. I have also just embarked on my first flip.

Long story short I am looking to widen my network of investors local or not local if you would like to partner on a deal or even if could you find an investment property in this area I am just simply looking to broaden my network and reach out to fellow BP members. Thanks for reading hope you guys are seizing the day!

You can suggest to use his contract or yours just make sure you have your lawyer or a real estate agent review the contract if you decide to use his. I would use your own though IMO. Hope this helps!

I would look into wholesaling if you don't have any capital or perhaps become an agent and start to get familiar with the business while making decent commissions. Good luck with your future!

I have heard of this strategy also I look to employ it once I get enough properties.

Thank you guys so much for your insightful responses I truly appreciate it!!

How significant is the tax appraisal of a property? I'm looking to flip a property and the comps for the area are showing properties of this type are selling for 55-65k but the tax appraisal on the property is 6700. How significant is this? Should I cross this property out as a flip? I'd be purchasing for 20k.

I also live in a very small area. I would defiantly check similar properties rents comps because even in a very cheap area those rents seem very cheap. Perhaps 450x2 and 550x1 for the rents IMO. I would just hate to see your sell yourself short and cut your self out of some profit with your first property. Best of luck!! Keep us updated!

Great topic hope to be in this situation looking forward to the insightful post of some experienced BP members.

Also, how much does the tax appraisal mean? I've did some studying on the fix/flip strategy for a few months also I suppose just where I am not as experienced I am nervous. The comps for the fix/flip area from my realtor are $55-65K does the tax appraisal of 6700 mean anything?

I recently had a property put in my lap that I was thinking about fixing and flipping. Here are some quick numbers:

Single family home - 946 sq ft, 2/1, built in ? negotiated price 20k. The last tax appraisal on the property is $6700. Currently in probate. Owner will owner finance with 7k down.

Also, I have found a duplex that needs a little work. Some numbers:

Duplex, both units 2/1, gross monthly income 1100, taxes 1140, insurance 976, tenants pay all utilities. Owners willing to owner finance with 20% down. 78k

Now here's my question or dilemma: I'm closing on my first buy/hold MF property. I've had 2 under contract that fell through within 3 days of closing. I'll save those stories for another day. My business plan has been to acquire a bare minimum of two buy/holds a year. I feel very knowledgeable about the buy/hold strategy and feel very comfortable especially going through the whole process twice before this last property. I've studied intensively for a while now and feel very comfortable with this strategy.

On the other hand I had this SF property put in my lap and I believe ran the exact numbers except only on contractor quotes and not actual pricing but the fix/flip will net 10-15k, but this will be my first time doing it. Since I've been in real estate (about a year and half ago) and read everything I could get my hands on month by month I've been building a team and go to individuals and I defiantly feel like I could do the flip. Where as I feel very comfortable with the buy/hold strategy of acquiring MF properties to create cash flow and purchasing at discount. So this brings me to the question of: should I buy the duplex which needs about 10-15k of renovations or buy the SF and flip the property with the holding cost of 6 month to be safe and renovations +5k of the contractors estimate netting +10-15k. I'm stuck I'm leaning towards acquiring the duplex to make it two MF properties I own then try to creatively finance a flip. HELP experienced BP members with your invaluable advice. Thanks ahead of time!