All Forum Posts by: Abigail Pusey

@John Underwood

Hey John, I see Greer is between Spartanburg and Greenville. Do you invest in either of those cities or do you stick to your hometown? I’m just getting started (I’m based out of Hilton Head) and would like to know if you’d be willing to share how exactly you 1) decided on a farm area/target market 2) what those reasons were, and 3) what kind of systems did you use to collect and store this data for research? This is about where I am in the process and want to feel more confident about properties as I analyze them.

@Stefan D.

Sounds like you already have your chin up. Could’ve been way sh**ier but you know what you have now vs. had you bought a turn key 20% down? A bunch of knowledge, perseverance, grit, experience, and possibly more connections in your pocket for later. Never forget that!

Keep rocking.

@Ron Williams

Perfect. Thank you so much. What time and where? Is it the same location every month?

@Ron Williams when is the next meeting?

Thanks @Scott Wolf. I plan on having them be strictly lenders unless considering someone as an equity partner is easier? I'm in a position where I have enough money to put a down payment on a property but I'll need help with the rehab costs and figured it'd be cheaper to have private lenders rather than a hard money lender. I've never done a deal before so I don't have the experience to differentiate the difficulty or cost of either. Have you gone with either private lenders or equity partners yourself?

Hey guys,

I’m looking to gather a few of my friends to invest in a property with me but I’d like to put together a little “presentation” of what they should expect and what my goals are. I have a lawyer who is willing to draw up a contract that I can use with them.

Any advice on selling myself/my vision to these people? I want to make it look as professional as possible so that I can maximize my chances of working with them.

I’m just not good at pulling info together like that and making it look good (or sense!).

Thanks!

My friend wants to invest 10k cash on a real estate transaction. I don’t have a specific deal yet but want to know what kind of protection we should put into place. Should we both construct and sign a contract stating the terms and conditions of the loan and any ramifications/penalties for not paying back?

Is there something like this already floating around out there? I’ve never ventured in this realm and despite trusting one another, we want to protect ourselves financially.

Thanks in advance!

@Rodney T.

Hey Rodney! Always nice to meet a fellow BP member close to home (sort of lol). Not a lot of members online around here unfortunately so I’m grateful for that the ones that are! I’m a contractor on Hilton Head myself and I’m glad you name dropped your friend. I’m also interested in investing locally but lack the same resources you do, hard cash. I’d love to learn more about how much/what you know in construction and what else you’d be looking for in a partner.

Do you have any plans on visiting again any time soon?

@Landon Bleau

That’s a huge help, thank you. What would you say to the homeowner if they’re home?

Hey guys,

I was driving around my neighborhood when I found a run-down property. I looked it up on the county site and found out that the owner had a judgement against them personally and is from IL. A lien has been placed on the property. How would you suggest going about trying to buy this house? I was thinking of either mailing the owner directly or knocking on the neighbor’s door to see if they know anything and have any sort of contact.

I don’t know much about judgements or liens, and I’ve never bought an investment property before but this looks like a good one. What should be my next step?

Thanks!