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I suggest you really look at and prioritize what you want done because your budget will never satisfy your wish list. Then get at least 3 contractor bids, because different contractors will give you a pretty wide spectrum of bids. There are a lot of variables that effect your Rehab estimate. Then have them submit bids for you to determine your course of action.

Using the square footage is fine for initial ruff estimates when you have not seen any of the property. But, for your first Rehab project I would get a contractor to help figure it out.

You may not end up using that contractor to complete the work. Also, you may not need to complete all repairs identified upfront. I would definitely do some of the basic work that I can do myself.

But for the purposes of making an offer, it would be better to do a physical walk through with a contractor? You then use that list to determine what you can do and what will need professional work. It gives you an accurate CapEx reserves determination. Second, it provides cheapest personal loan rates solid ammunition to justify a discounted purchase offer.

You have greater negotiating power with the Seller. As far as making offers based on photos or even sight unseen. Do you think the Seller will show all the problem areas? When best place to get a personal loan with bad credit we arrived the first thing you see is the property was completely overgrown with vegetation, 2 foot high grass and weeds, large dead limbs hanging from trees, one even on top payday loan companies list the roof. The roof was more than likely damaged from the tree limb. When we entered the first unit it had a strong odor of dog urin and cigarette smoke. It apparently had water damage from the roof leaking. It had been gutted and the work had not been finished. The Seller really just wanted to get rid of a problem property he did not have time to mess with.

Of course there are numerous other hidden problems that cannot be detected from photos. Like foundation s, septic systems, HVAC, to name a few. Stay conservative, be thorough, do your due diligence, and you will be more successful and profitable.

Like parents who think their kids are the smartest, it seems to be the default response from agents and brokers that the properties they represent are always the best investments you can make. Look, I love real estate, but the reality is not all real estate is a good investment. If all you have to do is promise to renovate them to receive title free and clear, why are so many of these properties still available? Agents who have invested in CRE themselves approach their roles as agents more like a business and less like a job. The tenant profiles, economics, marketing, and financials are very different between the two classes. They know the short-term and long-term economic forecasts and all relevant underlying economic metrics and facts relevant to your potential investment. And they know how to communicate all this relevant data to you so you can make an informed decision. An investor agent will have valuable contacts that could potentially save you significant time and money.


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An agent that can recommend reputable contractors, property managers, accountants, lawyers, marketing experts, and cost segregation firms can be an invaluable resource.

You may be hesitant to work with an agent who may also be your competition, but the truth is, they can be the best resource to work with in terms of avoiding bad deals, finding great opportunities, and reducing time and expenses.

The benefits far outweigh whatever potential pitfalls you perceive.

Looks like it should all work out swimmingly unsecured loans bad credit no broker to me. Needs about 6k in repairs to get up to comfortable standard. Already have estimates from contractors) Once purchased, will take out equity loan for 6k and and use for repairs. House is payday loan companies list not in the best neighborhood but I am familiar with the area and will be living close by. As with most things in real estate, your primary focus depends on your situation and goals.

But in this instance, for most people, most of the time, focusing on one goal is better. You should definitely aim for a property that has both a significant payday loan companies list equity margin up front and good cash flow. Additionally, seek out a property in a decent area that will be relatively easy to manage and has a good likelihood of appreciating. Choices have to be made, and you will need to consider one criterion or the other more significant. Generally speaking, the more important thing should be to go for built-in equity.

Most years, I attend an event called the IMN Single Family Forum (I wrote about one such experience here). A bunch of mid-sized investors like myself attend, but the events are dominated by large, institutional firms that buy 100-unit portfolios on a payday loan companies list routine cash advance loan bad credit loans no brokers fast basis (or lend to them or provide services for such companies). And for institutional investors, cash flow is the name of the game. These firms need to hit a certain return for their investors. For these types of Wall Street firms, built-in equity is nice, but cash flow is the name of the game.

Most of us on BiggerPockets (and in real estate in general) are entrepreneurial investors, though. I certainly am (or would at least like to think of myself as such).

Buying with built-in equity allows us to BRRRR a property, get all (or most) of our money out, and repeat the process more quickly than we would have otherwise. Even if the "otherwise" here involved a house with bad credit personal loans ohio better cash flow. There are a few occasions when the trends in an area are so strong it makes sense to hold a property even if it bleeds each month. But these instances are few and far between and should only be done with a small percentage of your portfolio. Going big on properties with negative cash flow is, more or less, just speculating. However, entrepreneurial investors can pound the pavement and find the gems that slip between the bristles of the broad brush institutional investors use.

This allows us to take advantage of the inefficient real estate market by finding motivated sellers, value-add opportunities, and mislisted properties (most often by institutions).


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This is the big advantage that entrepreneurial investors have and the biggest reason real estate is, in my judgment, the best way for someone of modest means to become independently wealthy. In between the world of institutional investors and entrepreneurial investors are syndicators (like Ben Leybovich, Matt and Liz Faircloth, long term installment loans no credit check and several others on BiggerPockets).

But syndications—which are usually for apartments or commercial properties—have passive investors who are not so entrepreneurial. These passive investors will be much more interested in a consistent return on their money than on promises that the bad credit payday loans online deal was bought with equity or that it can cash out in five years (or however much time). In the world of syndications, both cash flow and equity are important—and perhaps equally so. Syndicators and institutional investors aside, the most important thing a buy and hold investor should look for is built-in equity. There are other things too, of course, such as potential appreciation, neighborhood stability and safety, hassle, etc. Huntsville is getting too tough to score any more deals.

Does anyone have good upcoming locations with a handsome return in Birmingham? Huntsville is getting too tough to score any more deals. Does anyone have good upcoming locations with a handsome return in Birmingham?

I am renovating a residential 24 unit building in Memphis and need to replace exterior stairs and add some balconies. Any recommendations for metal fabricators would be greatly appreciated. Thank you fo your help Good afternoon Bigger Pockets Fam! I currently own one rental property at this time and have owned it for about 18 months now.

My lender recently contacted me and suggested that I refinance my current mortgage in... I am in the process of buying a property and need one of the buildings checked out by a structural engineer. I am looking for someone that would work by the hour that would tell me whats going on in the crawls space... Hey,I am headed to Memphis next week to look at some deals.

Does anyone have any recommendations for areas or properties.

Is this going to be difficult for me to get without any other deals done? I am a Realtor and Anthony is in the marine industry. We are very keen to become involved in real estate investing as a way to save for retirement, among... Anyone in the South Florida area that would like to meet just PM me. Huntsville is getting too tough to score any more deals. Does anyone have good upcoming locations with a handsome return in Birmingham?

I am a buyer specialist in the Huntsville, AL market. I have a well qualified buyer who will be making a large down payment.

I live in Denver and own properties for rentals here. Lately, since Colorado is instalment loans online the new California, we are now in low supply market where prices are rising fast and anything that is good has huge bidding wars and... Any realtors or investors in this area that have been doing rental properties in this area? My wife and I will be moving to this area and are curious to know if there is enough of a market for renters.


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Looking for insight on all things REI for areas around Birmingham,... I was wondering if you could share some services that allow you to have a temporary phone payday loan companies list number on app, so you can post FSBO listing in MLS with the temp number. I just dont want to post my personal cell number that...

Do I insure the whole house with a homeowners policy? First off for some reference before you get into the Example: As you know there are at least 5 different possible "sources" of income when buying any kind of Apartment, multi family or single family real estate deal. My brother and I bought a SFP in Huntsville in late December. We were low-balled by our contractor, he dragged his feet for months, took the initial payment and has since disappeared. Hello All:I am looking for an experienced home inspector in the Huntsville area to inspect a SFR that I have under contract. The inspector needs to be available within the next 10 days. We are an an active investor group payday loan companies list with active investments all over US - mix of both multifamily and single family. Now we are thinking of getting started in Alabama and are debating between Montgomery versus Birmingham.

I will say Montgomery is a place for high cash flow no-appreciation investments.

Across the state of Alabama, with are payroll loans allowed the exception of Huntsville, population and jobs are stagnant or slightly on the decline. Despite this, there are still a treasure trove of great investments across both the Montgomery and Birmingham markets. Regarding ability to weather recessions, what I like seeing in Montgomery is the two largest employment industries are the government and healthcare, both of which are steady no matter the economic environment. However, I think it is difficult to start there and it is getting very competitive. I will say Montgomery is a place for high cash flow no-appreciation investments. Across the state of Alabama, with the exception of Huntsville, population and jobs are stagnant or slightly on the decline. Despite this, there are still a treasure trove of great investments across both the Montgomery and Birmingham markets. Regarding ability to weather recessions, what I like seeing in Montgomery is the two largest employment industries are the government and healthcare, both of which are steady no matter the economic enviroThanks for the insights. However, I think it is difficult to start there and it is getting very competitive. As that happens, it might create some more opportunity in small MF but the small MF prices might still be too high.

I would look in the suburbs of Huntsville for Small MF.

Competition in MFH has been on a tear and is showing no signs of letting up. Deals continue to close above asking and appraisal values lag the market in some cases.