All Forum Posts by: Zachary Clevenger

@Gulliver R.

Thanks for the information. I still have not received an email back from the agent. 

@Tyson Cross

Thank you for your feedback. When/If he responds back to my email I will ask all of the above mentioned items that you stated. Thank you for all of that info. 

In my opinion it seemed some things were off on this deal. My math was not coming out in favor of the deal, and brought up various questions -the reason I posted on here for help.

Thanks again for your response! 

@Chris Eaker

Thanks so much!

I am very excited and eager to grow. I'll look into the information you provided.

To me, multi-family and commercial seem to be the best long term for financial stability.

Good Morning BP!

For the last few months I have been reading, educating myself, listening to specific podcast, trying to analyze things, run numbers, learn the "language", and immerse myself into investing in real estate. The more I dig in the more I am starting to get an idea of "what" I want my niche to be or focus my attention on.

At first I was interested in SFH and buy and hold strategies. This could be done via BRRR or turn key. But the more I have educated myself, read, and looked at what is going on in my area (development wise) I do not foresee this as being what I desire.

I briefly looked into wholesaling, etc., but I have zero interest in this area of real estate.

The next are I looked at was multi family. The idea of multi family is somewhat appealing, however not on the smaller scale of duplex, triplex, quadplex, etc. -I am thinking larger (eventually)

However, the area I find I keep gravitating to the most is commercial real estate. The idea of having my hands on a beautiful piece of architecture that is also providing me with income, and investment opportunity excites me!

I am starting to load up on a few books by Frank Gallinelli, and Peter Harris to begin. I have also begun focusing my audio books/podcast on commercial and larger multi family units.

Some things on my agenda:

Educating myself on cap rates, NOI, analyzing multi family (complexes) and commercial properties, and financing to make it all happen.

I would be extremely interested in shadowing, learning, and/or assisting someone as I have much to learn in the Greenwood - Franklin - Indianapolis - Carmel - Fishers - Noblesville areas that specifically works with commercial real estate or large multi families.

If any one knows of such a person I would love their contact info so that I might be able to reach out to them and at the very minimum have a cup of coffee, drink, or lunch to network.

Thanks for being fantastic BP community! You guys rock and thus far I have networked and made two new friends that would have not been possible without you!

-Zach

Good morning everyone,

A mobile home park has come up for sale that I drive by every single day on my way to work. I need all of your expertise and help analyzing the property as I am still in the learning phase.

I have emailed the listing agent already requesting some additional information:

1) Cap rate

2 NOI/CFO

3) Rental amount per lot/unit

4) If utilities are absorbed by the park owner or by individuals

5) If the park was on city sewer or septic

I need all of your help analyzing this one, and any recommendations on further questions I should ask/inquire about.

**Update #1**

Reviewing the park's current website shows there is a unit for sale and here is the basic information it gives:

Terms:
$9,900
$900 down payment
$600 monthly (includes lot rent)

@Redgy Saint-Germain

Unfortunate situation to be in to say the least....

My personal recommendation is to pursue the property outside of your agent as it does not appear to violate the agreement that was signed for buyer's representation (by geographical location) -his words and I am not a legal expert.

I would also make plans to interview more agents at your location to begin the process of replacing him when the expiration date comes around. To me it appears he does not care about you as a client enough to help you pursue investments. 

Hope you are able to get this resolved and get your hands on that property!!

@Anton Taylor

Good Morning Anton. I am still fairly new at this myself, but this is my opinion for your situation: Stick close to home!

Being able to drive to your future investment to keep an eye on things, check things out regularly, be hands on if needed, easier access to local professionals (lenders, agents, contractors, etc.), abel to screen tenants in person if needed, being able to see your market area with your own eyes/ noticing trends.

Those are just a few of several reasons why I recommended sticking close to home. I am of the mindset I need to be in the know at all times with my investments, especially if I am trying to change my financial situation.

Good Morning BP!

For the last few months I have been reading, educating myself, listening to specific podcast, trying to analyze things, run numbers, learn the "language", and immerse myself into investing in real estate. The more I dig in the more I am starting to get an idea of "what" I want my niche to be or focus my attention on. 

At first I was interested in SFH and buy and hold strategies. This could be done via BRRR or turn key. But the more I have educated myself, read, and looked at what is going on in my area (development wise) I do not foresee this as being what I desire.

I briefly looked into wholesaling, etc., but I have zero interest in this area of real estate.

The next are I looked at was multi family. The idea of multi family is somewhat appealing, however not on the smaller scale of duplex, triplex, quadplex, etc. -I am thinking larger (eventually)

However, the area I find I keep gravitating to the most is commercial real estate. The idea of having my hands on a beautiful piece of architecture that is also providing me with income, and investment opportunity excites me!

I am starting to load up on a few books by Frank Gallinelli, and Peter Harris to begin. I have also begun focusing my audio books/podcast on commercial and larger multi family units. 

Some things on my agenda:

Educating myself on cap rates, NOI, analyzing multi family (complexes) and commercial properties, and financing to make it all happen.

I would be extremely interested in shadowing, learning, and/or assisting someone as I have much to learn in the Greenwood - Franklin - Indianapolis - Carmel - Fishers - Noblesville  areas that specifically works with commercial real estate or large multi families. 

If any one knows of such a person I would love their contact info so that I might be able to reach out to them and at the very minimum have a cup of coffee, drink, or lunch to network. 

Thanks for being fantastic BP community! You guys rock and thus far I have networked and made two new friends that would have not been possible without you!

-Zach

@Justin Strange

Welcome to BP! You will be amazed at the massive amount of information you will find on here. I am also a new investor from Greenwood here to learn, network, and grow. Enjoy your search and prepare yourself to spend countless hours on here just reading!

@Eugene Rogachevsky

Thanks for the information! I fully plan to use the HELOC solely for emergencies or investment opportunities only. I would prefer to pay off the HELOC and start fresh allowing me to avoid a future headache. I do not, nor have I ever, liked to accrue a lot of debt. And I agree on your statements of it coming back to haunt people....it happened to several people I personally knew.