All Forum Posts by: Account Closed

Could do that. But you would get much more traction on the DELREIA Facebook Group. 

@Matt Darkow I just do buy and holds mainly, I have 3 in Wilmington currently. Debating on offloading some of my properties recently though cause the value is nearly double on all of them. I'm indifferent to location, the worse the area the less competition, and appreciation doesn't matter to me as much as cashflow. How about yourself. 

@Corinne Bogan sure I was going to call her sometime next week to go over a creative deal I'm in the middle of. We would love to add people to our little accountability group. PM me your information. 

Hey @Corinne Bogan. There's a few of us that come around here from time to time so please feel free to ask any questions. Me and @Cassandra Sifford basically have weekly calls updating on what we're doing and we met on here so it's a good community. What area in Wilmington are you thinking about?

For point 2 yes the homes are much older. You'd be hard pressed finding a rental built after 1910. But all of that can be eliviatred on the original rehab. Just make sure you take care of all outdated items and you won't have a problem. 

Point 3 umm it litterally changes by the block so that's tough to say. Some great areas are Trolley, Triangle. and Cool Springs. For "Okay" I would say Little Italy, Baynard Village, Brandywine Village are fine. Everywhere else you're gonna find it hard to justify the purchase if you're banking on appreciation and not pure cash flow. I mean granted this market is nuts right now and typically some areas that wouldn't sell for much are flying off the shelf but in general I'd lean towards those areas. 

"Downtown" has two main distinctions Market St and The Riverfront. Those areas are pretty much all changed and the Riverfront is building new things by the day. 

Would love for someone else to chime in with their experience as well. 

@Matt Darkow I was going to but my tenant said he might be okay this month. If not seems simple enough looks like you have to apply on their behalf and the money owed goes straight to you. They have a video tutorial on YouTube.

http://www.destatehousing.com/OtherPrograms/ot_dehap.php

Thought this could be helpful to people here. I know I'll be looking further into it. 

Honestly just understand the basic principles that make a good deal/flip and try to really get good at it. I'd say you the BP (or any other) REI calculator and start to get familiar with it. This goes in hand with understanding your market. You should know whats a "good" purchase price (meaning good deal) and an ARV for a property just by knowing the Bed/Bath and sq ft. Bottom line is it's gonna take time and you need to analyze a lot of deals to get comfortable.

Is this your first property? I would start with one property. You will learn more in that couple months of ownership than any time you've spent on the forums/talking to people. Once you feel comfortable go from there. As far as turn key why is that strategy more important than doing a rehab? Just curious, and nice job on the amount saved. 

Are you still currently cash flow positive even without the airbnb rented out? How much does the store front cover?