All Forum Posts by: Brett K.

If you want a 2nd opinion I can help.  My background is appraising. 

Come & network with local investors.  We will be sharing local real estate news, do a couple of rounds of 'speed networking', and you are welcome to pitch your deal.

No fee to attend and you are responsible for your own food and drink if you wish to eat or imbibe.  By the way, the beef brisket is fantastic.  

I don't know what kind of 'creative' things you are doing but you are usually better off with the bank loan.  I assume you are using a portfolio lender (e.g. local bank that will hold the loan)?  The small banks are usually the best choice.  Hard money is a useful tool but it's almost always the most expensive option.  Sorry I can't be more specific on the numbers.  Each lender will be different and you will be treated differently based on your experience, collateral, and relationship with them.  Mr. Money & Surepoint Equity are two local HM lenders.  You can google them and get a quote. 

I know it's short notice but BP people are welcome to attend.  We will discuss how to (safely) buy a property from a wholesaler.

There will also be networking and we'll discuss local real estate news too.  There are no fees to attend and you are responsible for your own food and drink tab. 

Cheers,

Brett

Adam, it depends on your goals.  Are you looking for cash flow, appreciation, both?  How's your risk tolerance?

The 40215 zip & south of there in Beechmont, Hillview, areas in Okolona are safer plays and you can flip and find cash flow properties in these areas.  

I see landlords liquidating in these areas.  Others are still loading up.  Remodeling Trends & Best of the MLS 8-2-18

Adam, I've been watching the area.  My background is in appraising (16+ years) and as of today it's a good cash flow area (i.e. ghetto) but it doesn't hold value.  It's impossible to flip because the upside values are not there.  Crime is high, most of the properties are very old and worn out.

My primary concern is that there is no organic revitalization.   It's all contrived by outsiders.  None of them live in the area.  

In contrast, Germantown, Nulu, Butchertown, and now Shelby Park were all sub-par areas to varying degrees but what they all shared in common is they were bordered on at least two sides by much more expensive areas.  Portland is cheap and it's surrounded on all sides by cheap.  

I don't want to be tagged a naysayer but I think the Portland proposition is much more complicated than the above mentioned areas. 

Nice towns;  I wouldn't mind trading places with you......  

Ouch.  

I would get multiple estimates.  One contractor's $18,000 job might only be $12k from another.  

Without appreciation do you have enough equity for a line of credit? 

I wouldn't try to make plans around the prediction - "the market will hopefully be going down, allowing our money to go further".   

Warren Buffett didn't even predict the '07 - '08 downturn and he owns HomeServices of America (HSA).   

Historically the US real estate market plugs along with positive appreciation.  Local markets may see downturns but the market as a whole is resilient.  Market cycles can, and often do, span more than the length of a human life. 

Build your strategy based on the historic norms.  Which means, don't count on real estate going down again.  

If you are a local investor you are invited to the REIML meetup.  There are no product pitches.  

Flippers, remodelers, landlords, wholesalers, and agents get together to discuss the local market, talk local real estate news, and wants & needs.  There will be a networking round-robin which most find invaluable to their investing experience.  

You are welcome to pitch a deal.... not a product.   

Hosted by Brett Kennedy.