All Forum Posts by: Bobby Beard

I wouldn't buy it.. Will never buy another flood zone house again.

@Brant Richardson speaking of boat money.. I have the 40 foot Carver scheduled to leave next monday for Panama city marina.. will use it for the summer and sell it from there.. then more property!

@Ramon Jenkins but its fun too!

@Ramon Jenkins its work man! nothing easy about it. The fear is the worst hold back.. i feel in future deals i will get more secure and make the deals easier.

So Property number 6 turned into a total demo and remodel. With 5000 sq ft and the way it was laid out i decided it was best to remodel and flip.. Its on its way... long process... New lay out, new plumbing, new roof, new everything.. wish me luck! my first flip..

Property number 7 in PC florida. Turned out to be a good property. when down after closing with auction.com and did a quick turn around including painting both units. While there discovered the roof was shot! scheduled roof and went back to TN. returned 2 weeks later and went to property to do some final touches. while there i rented both sides with in an hour and had people standing in line to rent it. i will continue to invest in Panama city. no shortage of renters there. NOW with all that being said.. these are low income units and i expect high turn over.. however i paid cash for property so i am not under the gun and can sit out the turn overs with out it hurting me. with a 21k price tag and a return of 1000.00 a month rent.. it will make money..

Things have moved along and changed some since I posted this. Will update more tomorrow.

Just finally closed on a deal with them for a duplex. All and all it wasn't bad. Also noticed they all say don't disturb tenant however all the ones I've looked at have been vacant. I was told they pay the tenants to move prior to auction.

At what point do you become a seasoned investor? I'm sure there is much to be debated by such a question however there has to be some point at which (in what ever investing you do) you become seasoned. As for knowing everything I'm sure "seasoned" guys learn new things all the time.

I'm in the middle of one now. It takes a long time and they don't respond to emails. I have been given two closing dates but both expired with no word from them. They called today and ask some questions they have already ask.. TWICE and still no closing date. Told them it had to close but next Thursday or I was done. We shall see.

Read read read. Find others in your area doing it and try to learn from them. Offer to help them for free.