All Forum Posts by: Alex Franks

If there was one golden nugget; one tip, you could give that would aid in the long term success of a new real estate investor, what would it be?

Please don't take this the wrong way. I love to play texas holdem cash games only high stakes. Yet I can find two to 3 games a day here locally. Same with the meeting in Charlotte you can pick so many to go to. Hit with PM I send you the ones I think personally hold the most value without sales pitches behind them. One is on Friday morning, the other two run by guys who have been involved in this market for years. Oh, any time @Don Harris mentions a group. Attend those meeting.

Alex

Though I am not a big fan of meeting anymore.I would Advice both you and your husband attend a few. Get a feel of what is going on in the current markets. I am starting to see too many Charlotte folks in my back Yard Rock Hill. Been my honey hole for years. Actually two neighborhoods I been buying and selling in those for 19 years now. Just kidding love seeing the folks come down this way.

Do me a favor go back through a lot of my older post on getting started or what zipcodes in Charlotte I liked. Which a lot has changed as the Charlotte market is on fire. Rental areas are now new hot market areas. War zones are new upcoming hot areas. So best to attend meeting and key in on what's happening locally. Feel free to reach out and pick my brain any time 

Alex

Hi BP community! My name is Bess and I currently live in Charlotte, NC with my husband. We have been talking about getting into real estate investing for quite some time (as in YEARS, *face palm*) and have decided to stop just "talking" about it!  So we are looking for single family fix & flips in Charlotte and the surrounding areas like Huntersville, Fort Mill, Rock Hill, etc. Ideally buying a foreclosure or from a wholesaler would be great. We are also open to buy & holds for rental income. I'm a huge fan of the BP podcast (both the real estate and the money podcast) and am looking forward to connecting with so many like-minded people on this platform! 

I would love to hear more about everyone's experiences here in Seattle. I'm a newbie trying to figure out how to land his first deal in this competitive market. I've been considering Tacoma. I was born and raised in Seattle's Central District, lived in New York for 10 years and am now returning to a place that is really unaffordable. I would like to keep renting a place in the CD due to its close proximity to my work while purchasing a single or multi to rent out in the surrounding areas. I have a great job and great credit but I'd like something in the $350 range for my first deal. I'll go higher as I build my portfolio. I would love to connect with anyone in the area. 

@Alex Franks ... Thank you for sharing and I'll reach out to Marisa!  I was interested in investing in ATL as well.  I have a friend who lives down there that I need to visit to see what's out there.  

I used to say 200 units now I have a number for the passive income I am after. Then I can slow down. Maybe build a few houses year and buy a rental or two. Yet now my goals have changed. I want more time with family and my garden. So it's not the units I would ask. Its the game plan and the passive number you want to achieve. 

Alex

Hi all,

So I'm on the brink of starting my real estate investing career after studying both residential and commercial for the last year or so and I'm wondering if it would  be a realistic goal to have 300 units cashflowing at least $180 per door (living off of $54000 a month). 

I'm asking this because in 10 years I would love to look back at my goal journal and see what I have accomplished. 

Thank you.

Mobile homes in Real state circles known sometimes as lonnie deals. Yets I know a lot of folks both own parks or mobiles and make a killing. Some do weekly rent others do monthly. Some rent the lots only. It really comes down to your appetite on dealing with the tenant class. Not saying folks are good or bad.


The funny thing here in SC only place you will see a 500k home and next door piece of land with 3 single wides from the early 80s ( grandfathered in )

Hello, I'm looking to get into REI, I have some equity on my house and I'm looking to buy and rent a property. I notice there are some new construction on mobile home and they are selling them for around 50k. I'm looking to put around 20% down. Now my question is do people rent mobile homes, I'm in Virginia NOVA area. Since I'm new and don't have a lot of experience I'm looking to start small. I have read the books and listen to a lot of podcasts and still learning by research on real estate, thanks.

Simpe Answer no or Hell No. I want to bring in some one else who is licensed to do the work.

Alex

Hello,

After having a two flat here in Chicago inspected, I discovered that it would need a new roof. I asked the seller (a contractor) to come cover the closing costs, which would be about the cost of a new roof. His counter offer was to do the roof himself, and then I could reinspect it. That sounds okay to me, but I want him to pay for the reinspection, since I have already paid for the initial inspection. Does that sound like a good move for me to make? EDIT: I looked at the email the seller sent my lawyer, he says he will not provide receipts for labor or material. Is that a bit odd?