All Forum Posts by: Zach Sullivan

Check out pe home remodeling

Ryan Greenberg owns it and is an investor himself and very knowledgeable about properties and has done work for me before on investments.

Hi all, if I found a good investment property that was a BRRRR and made more money than I anticipated and I wanted to reward a realtor past the commission initially paid (especially because they don't get the upside of selling the fixed up property if I hold) can I do that?

If we closed 3 months ago and I wanted to give a bonus because they found a home run for cheap (so they made out okay but not great) how do I go about doing that? Do they have contracts for bonuses on previously sold houses?

@Russell Brazil thanks again for the referral! Marc was fantastic to talk to and very informative but unfortunately doesn’t go as far as Glen Burnie & Pasadena.

Are you open to new clients? While I'm not married to the idea of Pasadena or Glen Burnie I'm happy to BRRRR anywhere if the numbers work.

Thank you both! Will reach out Marc.

Looking to meet over coffee or lunch on me with some contractors. I’d like to start BRRRRing and want to build a partnership with a contractor or two.

Looking to:

1. Start to build a relationship

2. Pick their brain on general costs. For example labor per hour for vinyl floor or drywall or is that by the sheet etc.

3. Understand their process, how they’re paid, what they look for in investors

4. Typical timelines

My ultimate goal is to make they they make a healthy profit, help me better analyze deals, and we win together.

Zach

I searched for a few forums similar and not much out there or recent. Does anyone have a story around investing in a “dying city” meaning steady population decrease, steady jobs decrease, and generally not a lot going for it?

The area I’m looking at is by the water and crabbing/seafood is the main industry, not really near major cities. Population has been cut in half since 1950 or so.

Found 2 properties next to each other for sale duplex and 4plex with 6 units(potential for 7th) total. Asking $270k total for both.

Annual rent: $44,280

Vacancy: 5%

Prop mgmt: 10%

Mortgage (taxes&insurance): $21000

Maintenance: $6k a year (always go high before seeing a property)

Lawn, water/sewer, trash: $1600

Getting CoC return at full price of close to 15%. Been on the market a bit so can probably get a deal and make closer to 20% CoC return. If maintenance is $3k a year goes up to 25%.

Also 3 tenants have been there 3-6 years, 2 tenants 1-2 years, and one brand new tenant. Realtor said they usually have a waiting list.

It’s 2.5-3 hours from my house and a “dying city” are my cons. Cashflow is good and cash needed is low which are my pros.

Anyone have similar experience?

@Dan McFadyen hey not yet, I have a friend who is building there now but no idea on info yet.

Heard AirDNA was good for market info but it costs money for the reports and haven’t pulled the trigger on that yet to see how good it is

@Jessica Herndon

Hi Jessica! I’m thinking about buying a family vacation home in deep creek and renting it out when we’re not there.

If you don’t mind I was wondering what part of the lake you were on, what’s your price point, occupancy rate, what are the off seasons, and what’s the hardest part of the rental? I’m probably going to do one of the AirDNA reports too.

Sorry for a lot of questions!

Zach

Hi BP

I was looking at buying a house to live in one unit while the others are rented out. Seller said I could have an inspection etc, but doesn’t want to pay the realtor fee and he’d pay for whatever lawyer I wanted saying that was is cheaper.

What are the risks of doing it this way and what is the benefit of not using a realtor except for price? Pretty new and the request seemed odd to me

Thanks for the replies everyone! I asked a few investors in my area and they said the same thing, mainly appliances & tools not so much building material (although I'll be keeping a lookout for deals there too).

I found https://blackfriday.com/ that shows Black Friday sales as they come out as well as historical Black Friday sales too. 

Looks like tools, fridges, washer, dryers, microwaves, and dishwashers were 30-50% off based off the historical sales for Sears & Best Buy. Not a bad time to buy smaller home needs and decorations either.