All Forum Posts by: Eric H.

Congrats on finding some direction early. REI is a team sport, I encourage you to focus on your strengths. Become adapt at applying your natural strengths to RE, there are too many people who are good at the things your bad at to try to beat them at their own game. After you read the Ultimate Beginner's Guide, listen to 30-60 podcasts, ask questions in the forums, read The One Thing, and reach out to folks who are doing what you want to do; then you will have a clear idea of where you want to go and how to get there.

Regards,

Eric

@daniel ahern

I think San Antonio is a great market, DFW, and El Paso maybe even betterbetter as they are earlier on in their development. The growing Latino population is where I would invest if my strategy was strong in MF. 

if its grandmas house and she doesn't need a big lump sum you could have her owner finance at 8% which is great performance for her money and 0 points for you. You could even workout 0 payments for 6 months or during renovations or whatever was good for you and grandma.

Welcome Chris!

I am skeptical of renter growth projections in cities with below average minority representation. I'm not trying to sound racist, there are lots of social economic dynamics and historical U.S. data that support my beliefs that racial and ethnic minorities are the driving force of growth markets. For that reason I prefer Charlotte to Indianapolis, if those are the cities I have to choose from.

Regards

Eric

a proper builders risk policy is written to cover RCV or ACV if ACV is greater when construction is complete you need a standard dwelling policy. Understand what constitutes "vacant" and how your coverage changes if and when your property meets the policies description of "vacant" general 30-60 days with no people workers or stuff on site. Consult with a professional in your state.

From what I've read... You need a rent roll and bank statements with deposits that support the rent roll.

Otherwise how are you to know you don't have 7 tennant's that don't pay? Buy potiential but don't pay for potiential, pay for the reality.

@Elizabeth Maille  Did you do this deal? How did you acquire the DP? Did it spell trouble or triumph for you?

Looks good, I would also:

1. Mandate renters insurance 

2. Exclude business practices

@Kris Baldwin welcome sir, I'm new as well, and I'm glad to hear you've found your way here with an extremely valuable skill set. Hope to meet you soon.