Looking to get into investing in the Auburn, AL area

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Looking to get into investing in the Auburn, AL area

Landon Kemp
Auburn, AL · Member since 2016 · 9 posts · 2 votes
I'm new to the BP family and live in the Auburn,Al area. I'm interested in exploring the world of REI but I'm unsure of where to start in my area. Anyone know of a good group of investors in the area?
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Helen Kirk
Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
10y

Hi Landon,

I live and invest in the Auburn, AL area. We don't have a local REIA, but I have been to the one in Montgomery. I believe there may also be one in Columbus, GA, which may be a bit closer, although they are in the Eastern time zone vs. the Central time zone.

I purchased a townhouse last year which I am currently renting out at $950.  I just purchased a foreclosure on the steps of the Lee County courthouse, but haven't yet received any documentation on it.  It is occupied by the former owners, and it will be interesting to see what I wind up doing with it.

I own my own home, which I also consider as an investment, since I plan on holding it and renting it out as soon as my kids fly the coop (next 3-5 years).

I have a local mentor, which owns quite a few multi-family rentals.  He is interested in possibly mentoring others before he departs the area in a few years.

Anyway, congratulations on getting involved in real estate.  I certainly wished that I had done it a long time ago!

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Welcome to BP @Landon Kemp. If you do not meet any locals on here, there will likely be a REIA someplace close to you, or a local investors meetup you might find on meetup.com.

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  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Hi Landon,

    I live and invest in the Auburn, AL area. We don't have a local REIA, but I have been to the one in Montgomery. I believe there may also be one in Columbus, GA, which may be a bit closer, although they are in the Eastern time zone vs. the Central time zone.

    I purchased a townhouse last year which I am currently renting out at $950.  I just purchased a foreclosure on the steps of the Lee County courthouse, but haven't yet received any documentation on it.  It is occupied by the former owners, and it will be interesting to see what I wind up doing with it.

    I own my own home, which I also consider as an investment, since I plan on holding it and renting it out as soon as my kids fly the coop (next 3-5 years).

    I have a local mentor, which owns quite a few multi-family rentals.  He is interested in possibly mentoring others before he departs the area in a few years.

    Anyway, congratulations on getting involved in real estate.  I certainly wished that I had done it a long time ago!

    1Reply
  • Jimmie Dickey
    Auburn, AL · Member since 2016 · 19 posts · 1 vote
    10y

    Welcome @Landon Kemp-I'm also in Auburn and own a SFR in Opelika. We're in savings mode right now for our next investment.

    I've been able to locate investors (though I haven't reached out to them) using tax records of properties I've been watching that are available for rent or currently under rehab. Also met a couple of investors at the courthouse auction in March. Good Luck to you!

    0Reply
  • Donnie M.Pro Member
    Rental Property Investor · Cullman, AL · Member since 2013 · 113 posts · 64 votes
    10y

    Welcome to BP @Landon Kemp

    Here is a link to the thread for the meetup in Columbus, GA (about 45 - 60 minutes from Auburn depending on your location) that @Helen Kirk mentioned.

     https://www.biggerpockets.com/forums/521/topics/15...

    I believe they meet on the first Tuesday at the Keller Williams on Veterans Pkwy at 6:30 but all that info. needs to be confirmed via the thread above. Feel free to connect with me if you ever want to talk REI. Best of luck.

    0Reply
  • Landon Kemp
    OP
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y
    Thanks for all the responses. I have been in Auburn for the last 10 years and have made lots of good connections throughout that time with agents but I haven't been able to find a lot of investors. I'm at a point where I want to start investing and would like some guidance from any locals that have some knowledge to share. I'll look into the Montgomery or Columbus area REIA but if there are a few of us here what is stopping us from creating a local?
    0Reply
  • Jimmie Dickey
    Auburn, AL · Member since 2016 · 19 posts · 1 vote
    10y

    Good question....I would probably be interested in attending in the future, but the next 4-5 months are just totally nuts for me. While all markets are different, my thought is that Columbus and Montgomery are relatively similar while Auburn/Opelika is a different animal altogether. I crunch numbers (buy and hold) on a lot of properties that come on the mls in Auburn and Opelika, and I don't come across many where the 2% rule works. My UNQUALIFIED OPINION is that 1% is a pretty good goal for this area. I know that the MLS isn't the best place to find the best deals, but there have been a few that had the timing been right, I would have been interested. From reading her posts, I'd bet @Helen Kirk has some insight on this....

    0Reply
  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Drat...I had an entire post trying to upload when my computer decided to reboot.  I'll try to recreate my intricately worded, loquacious, perfectly articulated and informative post...

    Yes, I'd love to have an REIA in this area and would attend. Anybody know of a place we can meet? We can get speakers, and possibly discounts from local vendors through an association.

    My townhouse was listed on the MLS for 4 days when I found it. It was a great deal even though I had to make an offer 6K over the asking price in order to beat out the other several offers.

    Lee County Courthouse will have its yearly tax sale next week (May 4, 2016 at 10am).  I went to it last year and found the process fascinating.  I will go this year and might actually bid.

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  • Wayne Hinton
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y
    I am new to real estate and would very much be interested in a meet up in the Auburn area. What do y'all think we need to do to get this done?
    0Reply
  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Well first, we need to meet, get to know each other, and decide what we want to get out of the group... i.e. networking, marketing, insider information of the local market, local vendors, etc.

    I would suggest monthly meetings.  If anyone has a meeting room we could use free of charge, this might be the way to go initially, and we wouldn't have to worry about raising funds for a place to meet.

    If we decide we want to get this group going long term, we may want to join either the Auburn or Opelika Chamber of Commerce. I've contacted the Auburn Chamber of Commerce. They have an annual organizational membership fee of $175. This would include being able to use either one of their classrooms/meeting areas, they would provide information about our group through any of their information outlets. Should any new investors call inquiring about such a group, they would steer this individual to us.  They have other membership benefits also, but I'm not sure what they are.

    So.... we could all go out for dinner somewhere first...

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  • Jill DeWitPro Member
    Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
    10y

    Hi @Landon Kemp and welcome to BP. BP is a great place when it comes to Real Estate Investing. BP offers free online educational courses and videos, informative forums to learn from and the ability to network with other investors. You came to the right place.

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  • Joey Tatara
    Auburn, AL · Member since 2016 · 6 posts · 0 votes
    10y

    I also live in Auburn. My wife and I are in the planning stages of our investment lives. We have a good idea of where we want to start but we are probably 6 months away from really being able to do anything. I have stated that my goal is to buy my first property by end of 2017. 

    That being said. I would love to get involved in meetings!

    0Reply
  • Donnie M.Pro Member
    Rental Property Investor · Cullman, AL · Member since 2013 · 113 posts · 64 votes
    10y

    @Helen Kirk @Landon Kemp @Jimmie Dickey @Wayne Hinton

    Let's do this!  I'm down for us all getting dinner and/or at a library first to discuss long term goals.

    What weekday (or weekend) should we all try and meet up?  Any good suggestions on where?

    I can do it any weekday 4:00 or later.

    I also called the Lewis Cooper Jr Memorial Library (in Opelika) and they have a meeting room that is available for $20 which can reserve the room for us to meet.  They close at 7:30 on Mon./ Tue. and close at 6:00 on all the other weekdays.  It is just a thought and is not as good as the Chamber of Commerce idea since the library costs more if we meet once every month.

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  • Landon Kemp
    OP
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y

    @Helen Kirk@Donnie M.

    Well it definitely sounds like there is enough interest to move forward with this idea.  Does someone want to volunteer to take point on arranging a time and place?  Monday and Wednesday after about 4 would be best for me but I am a little flexible other times during the week, I just need to know ahead of time.  If anyone has any connections with local real estate agents I know that they are often happy to give meeting space as it brings possible clients in their doors.  I'll reach out to the couple that I know and see if that would be an option.  I hope we can start something that will be beneficial to all with this.

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  • Joey Tatara
    Auburn, AL · Member since 2016 · 6 posts · 0 votes
    10y
    Originally posted by @Landon Kemp:

    @Helen Kirk@Donnie M.

    Well it definitely sounds like there is enough interest to move forward with this idea.  Does someone want to volunteer to take point on arranging a time and place?  Monday and Wednesday after about 4 would be best for me but I am a little flexible other times during the week, I just need to know ahead of time.  If anyone has any connections with local real estate agents I know that they are often happy to give meeting space as it brings possible clients in their doors.  I'll reach out to the couple that I know and see if that would be an option.  I hope we can start something that will be beneficial to all with this.

     I am fairly flexible in my job (home health physical therapist and occupational therapist). Any day after 4 will generally work for me. If it's going to be a consistent thing we can get going I'd prefer Monday-Wednesday, which was mentioned above. I will reach out to my realtor about a meeting location. 

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  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Mondays and Tuesdays are best for me.  I get off work at 4:45 (Opelika), but can get off earlier if I plan for it.  I like the idea of the library or a realtor's meeting room.  Lots of restaurants have meeting rooms available also.

    0Reply
  • Wayne Hinton
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y
    After Rec league baseball (about 3 weeks) would be the best for me. Monday and Tuesday nights.
    0Reply
  • Landon Kemp
    OP
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y

    I've reached out to one of my realtor contacts to see if they would be willing to provide space.  I'll let everyone know what comes of that.

    0Reply
  • Evan Crawford
    Real Estate Agent · Auburn, AL · Member since 2016 · 4 posts · 1 vote
    10y

    Landon,

    Im in. We can do it at Three Sixty office if that works for you??

    0Reply
  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Hey everyone.  We have a large training room at my workplace, and my director just gave me the OK to use it for our meetings.  The address is 1900 Cunningham Drive, Opelika, AL 36801, and it is located very close to the Opelika Walmart.  It is a big brick building with the letters AMSTI on the front, just before you get to the railroad tracks on the Walmart side of the tracks.

    What does everyone think about meeting there next Tuesday around 5pm?

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  • Donnie M.Pro Member
    Rental Property Investor · Cullman, AL · Member since 2013 · 113 posts · 64 votes
    10y

    I

    Originally posted by @Helen Kirk:

    Hey everyone. We have a large training room at my workplace, and my director just gave me the OK to use it for our meetings. The address is 1900 Cunningham Drive, Opelika, AL 36801, and it is located very close to the Opelika Walmart. It is a big brick building with the letters AMSTI on the front, just before you get to the railroad tracks on the Walmart side of the tracks.

    What does everyone think about meeting there next Tuesday around 5pm?

    @Landon Kemp @Evan Crawford @Wayne Hinton @Jimmie Dickey @Joey Tatara

    I will be there.

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  • Landon Kemp
    OP
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y

    Tuesday and Thursday are typically bad for me as I coach soccer.  What about Wednesday?  Also Thanks @Helen Kirk for getting space at your work,  @Evan Crawford has also offered the 360 realty office on Opelika Rd. in Auburn and I know they have a great space with a big screen and the resources to take a look at properties if the need arises.

    @Wayne Hinton@Jimmie Dickey@Joey Tatara

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  • Helen Kirk
    Rental Property Investor · Auburn, AL · Member since 2015 · 227 posts · 80 votes
    10y

    Either location would be fine with me.  Our training room is large, but the chairs are probably not as cushy as what would be in a real estate office, so we might want to try the 360 realty office first.  We have a smartboard, and wireless internet access as well, but we can always use this as a backup.  Wednesdays are ok with me, although I would need to push the time back a bit... perhaps 6pm would be a good time?

    Would everyone on this post chime in on what works for them on the date and time?

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  • Donnie M.Pro Member
    Rental Property Investor · Cullman, AL · Member since 2013 · 113 posts · 64 votes
    10y

    Wednesday works for me at 6.

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  • Landon Kemp
    OP
    Auburn, AL · Member since 2016 · 9 posts · 2 votes
    10y

    Wednesday at 6 would be perfect for me

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  • Jimmie Dickey
    Auburn, AL · Member since 2016 · 19 posts · 1 vote
    10y

    Wednesday @ 6 would be my best chance of making it, but I can't commit totally yet. My wife is completing a graduate internship right now and extra time is literally non-existent. You guys go ahead and I'll jump in when I can.  

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