All Forum Posts by: Trevor S Foster

Hello, I have a potiential deal on my hands and Im in the middle of trying to run the numbers and Im getting somewhat confused and overwhelmed.

This is my first deal and Im not sure what to offer the home owner. advice would be much much needed.

Asking Price: 255,000

Townhome

2 Story

3 bed

2.5 bath

1696 SQFT

2 parking spaces

I know I have a deal on my hands that can be either wholesale or flipped. Since this is my very first potiential deal I really want to get this right. I have an idea in my head but I just need reassurance.

Im thinking to ask to offer 215-220k. I believe the entire place will need to be updated.

What do you guys think?

One comp sold at 257k that had a updated kitchen new carpet, tile and paint. bathrooms werent really updated.

this home I know will need kitchen, laundry, all bathrooms updated. as well the hardwood floors and carpet.

what do you guys think?

I do have a solid plan & a few investors I've talked to. But I'm still looking for solid investors for when I do get a deal. If you know of anyone please get back to me with more information

Hello, 

I am a new investor looking to connect with Private money lenders, Hard money lenders, and possible Partnerships.

I am currently active in the market for distressed homes to fix and flip.

I have recently put in offers with my agent on a few different investment properties here in Montgomery County, MD. 

While waiting to hear back from the offers I sent, I wanted to reach out to the bigger pockets family to see if there's anyone who knows of good Lenders to work with. Especially if they have experience with newcomers. I don't want to wait until an offer has accepted to then find lenders to work with.

Although I am new to REI, I have more than 3 years experience with renovation, restoration & emergency services. I also have relationships with different contractors who specialize in a variety of skills to get the job done. I also plan on getting my hands dirty, aiding in the completion of this project.

If you are reading this post & have any advice, please leave a reply. 

I've got my first 2 viewings today. One MLS listing and one FSBO listing.

I got nervous when my REA texted me the appointment for the MLS listing. Idk why I got nervous but I guess it's because I know it has potential and can be flipped. I use to live in this area so I know it'll rent well, it's a fixer upper and I can tell theres money to be made.

The viewing is at 4pm and I'll be sure to make a video and take pictures to post for anyone to give their opinion. I have nothing but good thoughts right now .. hopefully it turns out good.

It's a...

3 floor townhouse 

3 bed and 2 full baths

1,188 Sqft

Need a new kitchen, flooring and some drywall based on the pictures. I'll have a better assessment once I see the place.

My mindset is not to leave out of there without a deal. 

Hey my man can you please send me a PM with your info so we can touch base? Id like to speak with you about what your doing, trying to do and how we can help each other. 

I definitely appreciate the advice and all the things you've mentioned are currently being done. Im reaching out to as many people as I can. To be honest Im following the advice of the podcast host and posting ads looking to JV deals with other investors on this platform ya know, you never know who will reply. I'm not just posting for no reason, Ive already started direct mail campaigns and going to meet ups, searching for deals in my area as well as other areas I know well. I work for a materials company and Im constantly talking to contractors, investors, other building professionals & passing out business cards.

Its ok that nobody has taken me up on my offer and Im cool with that. I look at it like direct mail, I may not get anything the first post or two but eventually, someone will take me up on my offer... in the near future, once Im established I will be sure to post ads to help JV deals with new guys like myself.

I really do appreciate you taking the time to send that reply because every little bit helps, you reassured me that Im on the right path.

if youre trying to find title companies that deal with wholesalers look up all title companies in your area and call them to see what type of investors they deal with

Would anyone have an opinion on triplex and fourplex the best passive income for the DMV area? I want to purchase my first home and I love the idea of those 2 options but Im having trouble finding any in my area.

Are there any investors/landlords in my area that have advice on the best route to passive income? 

What kind of investment property?

How do you plan to make it to 65k passively to replace your salary?

What are your plans for the 80k in home equity?

What do you think is a realistic time frame?

Don't you think it's possible?

You can make a legit plan and find out if your goals are attainable by answering those questions, in detail. Listen to the podcast and read some of the guides to educate yourself... Figure out what your lane will be

Don't go to a realtor.

If you want to find wholesale deals, you have to "Drive for dollars" or "Direct Mail" campaigns or both. There's a "Guide to Wholesaling" on this website. I think you should learn how to analyze deals, understand how contracts work, what to say to motivated sellers, how to find homes & you need to learn how to evaluate a rehab if your truly want to get into REI. Go listen to some podcast also my man