National Newspaper Wants BP Community's Input!

[Scott Trench]

A reporter from a national newspaper that you've all definitely heard of reached out with some questions for me. She told me that she wanted to hear from some REAL investors, and I told her that I know just the place! 

Please find her questions below, and note that by replying here, you are agreeing to have your responses republished or quoted by that newspaper! 

Questions:

-When did you buy your investment property recently/where (city/state), how much did you pay, how big is it? 

-How much are you hoping to make on the investment? How much have you made so far?

- If you are planning to buy an investment property soon, how come? 

- What are you looking for and how come you think now is a good time?

- What advice would you give to others thinking about this decision? Anything surprise you?

-First/last name, age, profession, city/state where they live-email for follow up questions

This is an exception to our normal forum rules - you can post contact information here, for the reporter to reach out (or you can DM it to me, if you don't want to post it to the forum). 

Thanks in advance for any help with this!

Also, I want to quickly call out that this is my 2,000th forum post

It's been a wild ride and I've learned so much from this community. Thank you to everyone who's asked a great question, answered one of mine, or corrected me the many times I've been wrong or given terrible advice here. This community is just incredible and I'm very grateful.

[JD Martin]

Quote from @Scott Trench:

A reporter from a national newspaper that you've all definitely heard of reached out with some questions for me. She told me that she wanted to hear from some REAL investors, and I told her that I know just the place! 

Please find her questions below, and note that by replying here, you are agreeing to have your responses republished or quoted by that newspaper! 

Questions:

-When did you buy your investment property recently/where (city/state), how much did you pay, how big is it? 

-How much are you hoping to make on the investment? How much have you made so far?

- If you are planning to buy an investment property soon, how come? 

- What are you looking for and how come you think now is a good time?

- What advice would you give to others thinking about this decision? Anything surprise you?

-First/last name, age, profession, city/state where they live-email for follow up questions

This is an exception to our normal forum rules - you can post contact information here, for the reporter to reach out (or you can DM it to me, if you don't want to post it to the forum). 

Thanks in advance for any help with this!

Also, I want to quickly call out that this is my 2,000th forum post

It's been a wild ride and I've learned so much from this community. Thank you to everyone who's asked a great question, answered one of mine, or corrected me the many times I've been wrong or given terrible advice here. This community is just incredible and I'm very grateful.

1. My last recent investment purchase (not including a STR I just bought which is somewhat speculative) was a 2/1 1100sf single family home in Johnson City, TN that will be a 3/2 when complete. I paid $90k for it. It is my 16th rehab.

2. I will keep it as a long term rental property. When complete it will rent for approximately $1500 per month. I will have spent about $35k on rehab costs. I expect it to be worth about $175k when rehab is finished at current values.

3. No current plans at this time to buy more. Price to rent ratios have become very difficult in my area and are only getting worse.

4. I don't think it's a good time. If you look hard enough you can probably still find deals on the margins but I don't want to work that hard finding deals.

5. My advice to others: save as much cash as possible before jumping in. Material and labor costs have skyrocketed. My rehab costs on this property are roughly double what I would have spent for the same work 2 years ago. Don't go in without a solid block of cash reserves.

6. Contact: JD Martin, [email protected], office phone (423) 430-8590. Age 51, profession: retired, but before that city manager. Teach university classes on the side and play in an awesome rock n roll band www.rhythmbrewers.com , you can stream us on all your favorite players (shameless plug :D)