I’m looking for single and multifamily off-market properties to buy and hold as rentals in Michigan, Ohio, Indiana, Alabama, and Phoenix, Arizona.

• Cash purchases up to $750,000
• Financing or creative terms up to $3,500,000

Wholesalers, agents, owners, and deal finders: Send me your opportunities and add me to your buyers list. I will buy anything, especially properties with tenants already in place. Also open to rehab deals if the budget is correct.

I was showing my clients what looked like a normal, move-in-ready house. Fresh paint, updated kitchen, newer flooring the usual quick-flip appearance.

While we were walking through, one of my clients’ kids went into the kitchen and flipped on the lights.

Pop.

The entire house instantly lost power.

We checked the breaker panel, but nothing would reset properly. The seller casually told us, “It does that sometimes. You just have to unplug a few things first.”

That was obviously not a normal answer, so my clients brought in an electrician.

When he opened the panel, he discovered that someone had cut the ends off ordinary extension cords, run them through the walls, and connected them directly to the breaker panel. More extension cords were spliced together behind the drywall without proper junction boxes.

Large portions of the house including the kitchen, living room, and multiple bedrooms were essentially being powered by a homemade network of extension cords hidden inside the walls.

The electrician refused to turn the power back on and said he couldn’t believe the house hadn’t already caught fire. My clients immediately ended the inspection and walked away from the deal.

The craziest part? If that kid hadn’t flipped the kitchen light on at that exact moment, nobody might have discovered it until after closing.

I recently bought a pretty run-down 20-unit apartment building for $2.4M. It was doing about $300K a year in gross rent, but vacancy was around 8% and operating expenses were roughly 38% of what was actually collected.

I financed it with a $1.68M first mortgage at 7.25% amortized over 30 years and a $360K seller-financed second at 5% interest-only. Between the remaining down payment, $96K in closing costs, and $240K in renovations, I put a significant amount of cash into the deal.

Thankfully, the renovations worked. Gross rent increased by 22%, vacancy dropped to 5%, and expenses are now about 35% of collected rent.

I’m looking to refinance, and the property is being valued at a 6.75% cap rate. The new lender is offering 6.5% over 30 years, but they’ll only lend the lesser of 70% LTV or whatever supports a 1.25 DSCR. Refinance costs are 2%, and both existing loans have to be paid off.

I’m trying to figure out what the stabilized NOI and appraised value should be, which loan restriction will actually control, and how much cash I’ll walk away with after paying everything off. Will I recover most of my original investment, or am I overestimating how much cash this refinance will return?

Hey everyone! I’m u/No_Sorbet_4412, a founding moderator of r/RookieRealtors.

Welcome to our new home for real estate agents at every stage of the business. This is a laid-back place where rookie agents can connect with experienced professionals, ask honest questions, exchange useful advice, and share the wild situations nobody prepares you for in licensing class.

What to Post

We welcome:

• Questions about getting started in real estate
• Lead generation and finding new clients
• Showings, open houses, offers, inspections, appraisals, and closings
• Lessons from your biggest wins and mistakes
• Strange client, property, and transaction stories
• Marketing ideas, tools, scripts, and business strategies
• Advice from experienced agents
• Networking and referral opportunities

No question is too basic. If you’re wondering about something, another new agent probably is too.

Simple Community Rules

1. Be respectful and helpful. No insults, bullying, discrimination, or unnecessary negativity.
2. No ego or gatekeeping. Experienced agents are here to teach, not make new agents feel stupid.
3. No spam. Don’t flood the community with recruiting links, advertisements, or nonstop self-promotion.
4. Protect people’s privacy. Remove client names, addresses, financial information, and other identifying details unless you have permission to share them.
5. Include your location when relevant. Real estate laws, contracts, MLS rules, and customs vary by state, province, and country.
6. Use good judgment. Reddit advice does not replace guidance from your broker, attorney, association, or local licensing authority.

How to Get Started

• Introduce yourself below! Tell us where you’re located, how long you’ve been in real estate, and what you want to learn.
• Make your first post, even a simple question can start a great conversation.
• Invite a rookie or experienced agent who would add value to the group.
• Interested in helping the community grow? We’ll eventually be looking for additional moderators, so feel free to contact me.

Thanks for being part of the first wave. Let’s keep this community chill, useful, and welcoming and build r/RookieRealtors into a place where agents genuinely help one another succeed.

I just arrived early for a showing and found blankets, food containers, and personal belongings inside a property that was supposed to be completely vacant. The seller claims nobody has permission to be there, and I didn’t know whether the person was still inside.

Has anyone else experienced this? Should the first call be to the seller, broker, police? What should I do before allowing any more showings?