Off market and fix and flip - Team Building & Advice

Rehabbing & House Flipping
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Off market and fix and flip - Team Building & Advice

Donyea JenkinsPro Member
Member since 2022 · 40 posts · 18 votes

Hey Bigger Pockets family. I first want to say that I am a new participant in the community but I have followed you guys since Brian ran all the pods(Ha!) In my short time, the feedback you guys have so freely given has been great! That said, here is my situation. I have been in property management for 20 years, almost 3 years ago I moved to Birmingham AL to start my investment journey. I spent the last almost 3 years doing my due diligence learning the lay of the land. Over this time I have acquired my contractor team and have vetted them through my job as a property manager, figured out my strategy(Off Market/Deep buying) and location. Now I need to find a real estate agent(I am "interviewing" a couple now), an accountant to speak to and of Course a lender. I would love to talk with a lender to get a better handle on the products that help investors BUT in my strategy, I am leaning toward NOT using hard money at first(if I can avoid it). It would be a great help if anyone could point me in the right direction here in Birmingham. Also, based on what I wrote, if any of you do off market buying, I would appreciate ANY advice. Plan to buy at 4 duplex and a single family(which includes a lot) this year. Appreciate you guys in advance and it's an honor to be a part of this thing. 

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Corey Curtin
Member since 2021 · 12 posts · 5 votes
1y

Thanks Ko! I appreciate the kind words. @donyea 

@Donyea Jenkins Im happy to help if you need an agent or if you just have a question about a property. I work with a lot of investors in Birmingham and the surrounding areas. I will add that Ko has been an asset to many of my clients. Welcome to Birmigham!

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  • Ko KashiwagiPro Member
    Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
    1y

    Hi Donyea,

    Love the Birmingham market and I've worked with a couple of agents there. @Corey Curtin has been a stellar agent for my clients.

    I heard things that involve the city like zoning/permits can take a while in Birmingham compared to other AL markets so I'd be cautious of that.

    310-848-9776
    1Reply
  • Corey Curtin
    Member since 2021 · 12 posts · 5 votes
    1y

    Thanks Ko! I appreciate the kind words. @donyea 

    @Donyea Jenkins Im happy to help if you need an agent or if you just have a question about a property. I work with a lot of investors in Birmingham and the surrounding areas. I will add that Ko has been an asset to many of my clients. Welcome to Birmigham!

    1Reply
  • Donyea JenkinsPro Member
    OP
    Member since 2022 · 40 posts · 18 votes
    1y
    Quote from @Ko Kashiwagi:

    Hi Donyea,

    Love the Birmingham market and I've worked with a couple of agents there. @Corey Curtin has been a stellar agent for my clients.

    I heard things that involve the city like zoning/permits can take a while in Birmingham compared to other AL markets so I'd be cautious of that.


     Appreciate the heads up. 

    0Reply
  • Donyea JenkinsPro Member
    OP
    Member since 2022 · 40 posts · 18 votes
    1y
    Quote from @Donyea Jenkins:
    Quote from @Corey Curtin:

    Thanks Ko! I appreciate the kind words. @donyea 

    @Donyea Jenkins Im happy to help if you need an agent or if you just have a question about a property. I work with a lot of investors in Birmingham and the surrounding areas. I will add that Ko has been an asset to many of my clients. Welcome to Birmigham!


     Hey Corey,

    I am now looking for an agent. I have found that the ones I have reach out, for lack of a better phrase, BSing. I'm looking to hopefully buy 5 building/10 units in the Birmingham area and my niche is off market properties. Looking to buy in the Birmingham and Montgomery areas for now. Any help you can give would be appreciated. 


    0Reply
  • John O'LearyPro Member
    Lender · Winter Park, FL · Member since 2021 · 737 posts · 412 votes
    1y

    While I am a lender, I personally use hard money on all of my own investment projects. Leverage, when used correctly, is one of the most effective ways to scale. The key is vetting your lender properly—asking the right questions, understanding the terms, and ensuring the numbers make sense for your strategy. While using financing does mean I don't keep 100% of the profit due to borrowing costs, it allows me to take on multiple projects at once and operate in higher price ranges than if I were only using my own capital. If you're strictly buying turnkey properties and financing with DSCR loans, keep in mind that you'll typically need to put down 20% or more, and because of the higher LTV, you'll often get the highest interest rate available for your credit bracket. Every investor has a different approach, but I personally buy my rentals the same way I buy my flips..at a deep discount using hard/private money, then refinance with a rate-and-term loan to secure a lowest interest rate.

    Ultimately, it comes down to your goals, risk tolerance, and ability to find value-add opportunities. Sounds like you’ve put in the work to build a solid foundation—wishing you success as you take the next steps!

    [email protected]800-663-4122
    1Reply
  • Donyea JenkinsPro Member
    OP
    Member since 2022 · 40 posts · 18 votes
    1y
    Quote from @John O'Leary:

    While I am a lender, I personally use hard money on all of my own investment projects. Leverage, when used correctly, is one of the most effective ways to scale. The key is vetting your lender properly—asking the right questions, understanding the terms, and ensuring the numbers make sense for your strategy. While using financing does mean I don't keep 100% of the profit due to borrowing costs, it allows me to take on multiple projects at once and operate in higher price ranges than if I were only using my own capital. If you're strictly buying turnkey properties and financing with DSCR loans, keep in mind that you'll typically need to put down 20% or more, and because of the higher LTV, you'll often get the highest interest rate available for your credit bracket. Every investor has a different approach, but I personally buy my rentals the same way I buy my flips..at a deep discount using hard/private money, then refinance with a rate-and-term loan to secure a lowest interest rate.

    Ultimately, it comes down to your goals, risk tolerance, and ability to find value-add opportunities. Sounds like you’ve put in the work to build a solid foundation—wishing you success as you take the next steps!


     Really appreciate this post. As I am exposed to the different products offered by lenders, I am trying to see how to best mesh hard/private money to be as efficient as possible. I will only get one chance to set my real estate foundation, want to make sure I do it as well as possible without suffering paralysis. 

    0Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y

    The off-market strategy is like a business strategy as a whole. As you were in property management, not sure if you ran your own company, but as you look at it.. It is like building a business, there is a tactic(s) to get those leads. 

    Couple off-market ones to go after:

    1. Probate 

    2. pre-foreclosure 

    3. trust/estate (could be nitched out of probate due to the different messaging)

    4. Tax liens 

    5. REOs
    6. Family law attorneys  (divorce)  

    The McKernan Group4.957 Reviews
    WebsiteView Page
    1Reply
  • Donyea JenkinsPro Member
    OP
    Member since 2022 · 40 posts · 18 votes
    1y
    Quote from @Peter Mckernan:

    The off-market strategy is like a business strategy as a whole. As you were in property management, not sure if you ran your own company, but as you look at it.. It is like building a business, there is a tactic(s) to get those leads. 

    Couple off-market ones to go after:

    1. Probate 

    2. pre-foreclosure 

    3. trust/estate (could be nitched out of probate due to the different messaging)

    4. Tax liens 

    5. REOs
    6. Family law attorneys  (divorce)  


     I have seen these categories before. Definitely something I want to look into. They do seem like things I need a little more seasoning on in terms of education. Thanks for the list, I can now put them in my notes. 

    0Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y

    To not be overwhelmed I would pick one and stick to that for awhile, then add in another and so on. 

    The McKernan Group4.957 Reviews
    WebsiteView Page
    1Reply
  • Donyea JenkinsPro Member
    OP
    Member since 2022 · 40 posts · 18 votes
    1y
    Quote from @Peter Mckernan:

    The off-market strategy is like a business strategy as a whole. As you were in property management, not sure if you ran your own company, but as you look at it.. It is like building a business, there is a tactic(s) to get those leads. 

    Couple off-market ones to go after:

    1. Probate 

    2. pre-foreclosure 

    3. trust/estate (could be nitched out of probate due to the different messaging)

    4. Tax liens 

    5. REOs
    6. Family law attorneys  (divorce)  


     One quick question. Which one would you recommend for a rookie? My immediate thought is Tax Liens. 

    0Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y
    Quote from @Donyea Jenkins:

    State and market specific to be honest, some areas have a lot more REOs than others. For example my market, there are about 1-2 REOs for every 1500 sales. Not a good one to go with. Tax Liens are not a big thing here in CA either. So it really is market dependent. 

    The McKernan Group4.957 Reviews
    WebsiteView Page
    1Reply
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