All Forum Posts by: Yannik Cudjoe-Virgil

@Mo Farraj I would not base the decision on the DOM. It may be a hint that the property is overpriced or the property could potentially have some issues, but everyone has a different buying criteria. One "bad" deal for one investor may be a "good" deal for another investor. Its all subjective to your investment goals. 

There are still some good deals on the MLS by the way. I just bought one 2 months ago. 100+ DOM. Seller dropped the price to a "good" deal

Hey @Robert Carson . PM me and I can provide a couple referrals 

@Gavin Watson

Welcome to BP. I would focus on one specific strategy starting off and be a master at it. If you want to get into multifamily investing, flipping houses can certainly provide cash flow to "move up" but most of the knowledge doesn't help you in commercial real estate.

Best wishes,

Yannik. 

@Matthew Schaefer Another way is building a good relationship with a commercial broker and ask(or pay) them for a list of mulitfamily properties from their CoStar Database

@Trey Knight the toughest thing about being a business owner especially when you are first starting off full time is that it requires you to me more disciplined than the average 9-5 worker. It is even more tough when you work a 9-5. You have to pay the price now to get what you want in the future. It will require you to get up at 4am and go to bed at 11pm and repeat. Key word.... Discipline ! 

They all made great points. I would take a close look at the foundation and redo the rough-ins

@DuBeaux Dingle you would think so but they do not have a mindset of an investor. I am an agent as well and I have done deals for clients. I can tell you first hand that an agent is an underpaid wholesaler

Hey - It depends on your comfort level and risk. Look up the book on estimating rehab costs by J. Scott. That should give you a ballpark on how much things cost as they vary by market. If you spend an inspection for every property then thats 350 per deal which can add up especially if your putting in multiple offers and then back out the deal. 

I would find a couple contractors to walk through the property with to get ballpark estimates. always put 10-15% contingency in rehab budgets as they almost always never meet the projected budgeting. 

Find someone you can TRUST thats experienced and JV so you can LEARN while you EARN.

Hey Karrie, I would recommend going to local meetup and finding someone who has experience wholesaling properties in addition to indulging in the content on bigger pockets. The only way to learn is to do it so if I were to choose for you I would say go to meetup.com and find one. Find someone experience and figure out a way to add value i.e build a buyers list and offer to do a JV if you can bring a buyer. That way you can LEARN while you EARN. Key focus.... LEARN!

Hope this helps 

- Yannik. 

Like one said... Way too many variables. If you plan to have a tenant in there I suggest monitoring them on the utilities. I just had a good deal killed because the tenant owed 18k in water and the owner cant sell the property without that being paid off in full.