All Forum Posts by: Brett K.

Hi All,

I'm hosting another meetup and I'd like to extend the invitation to BP'ers.  

I'm putting together accountability groups and then we will be discussing Louisville's best rental and flipping areas and where the market is going.  I'll show you where the cash market is the thickest and what the appreciation rates are doing.  

If you would like to get involved in the accountability groups make sure you come at 6:00.  Otherwise you can come at 7:00 and get the other information. 

Hope you can make it.  

Cheers,

Brett

Wilson & Muir Bank is another one you can try Jay.  I'd love to see the property.  Got pictures?

Hi all,

I run a meetup with several hundred members and I would like anyone interested in having an accountability partner to let me know.  

It doesn't make sense for people in the same town, who might be competing with each other, to partner up.  We'll do it with weekly phone calls and video calls with folks from all around the country. 

Please reach out if interested.  

Brett.

Hi all,

It's a fact that having an accountability partner can increase your chances of success by quite a lot.  I've heard solid estimates of 33% to 50%. 

I run a real estate meetup in Louisville KY with several hundred members and we have people interested in having an accountability partner.  By partnering with our members you won't have to worry about giving away valuable info to your local competition. 

I'm going to play matchmaker and get this going for 2017.  

A lot of participants last year were new investors but some had great backgrounds in real estate such as construction, real estate licenses, marketing, etc.  

Raise your hand now or let 2017 and your goals slip away...

William,

Welcome to BP.

It's tough getting started.  I can't tell from your post what you and your wife's background is.  

Just a comment on your ARV's. They can vary depending on the buyer but it's a good idea to be conservative from the start. There's a book on BP by J Scott that is about estimating repair costs. You can also use Marshall & Swift, and the big box stores have online estimators. The best is to get a feel for prices in your market directly from contractors.

By being conservative with your ARV's you'll get a reputation as being realistic and someone who investors will want to talk to when they see your number on their caller ID.

Donnell, It's a simple principle, buy low & sell high, but in practice it gets complicated fast.  There are many moving parts.  

On the surface a good deal could be a property that looks like it's priced at retail market value which on the surface isn't a good deal.  But if you negotiate the price down to where it becomes a great deal......  In this way it is a contact sport.  You'll never find the deals until you start looking and trying.  

If you find a deal and you don't know what to do next then it can feel like a travesty.  You need to have a plan of action  i.e. money, partners, contracts, or the deal can slip away fast.   

You don't necessarily need a mentor in the flesh.  They are nice to have but hard to find.  Use Bigger Pockets and try to connect with locals that can help you work a deal if you need help, or a find maybe they point you in the direction of an agent that can.  

Good luck and welcome to BP. 

More investors are considering buying off-market properties and more wholesalers are bringing deals to the market. How do you protect yourself from making a multi-thousand dollar mistake?

Here's a quick run down of the questions you need to ask and the websites you need to vet a property fast.

Bring your business cards and network with other investors.

NOTE: If you have a deal you can pitch it at the end of the meetup.

Thursday, November 17, 2016 7:00 PM 

United Real Estate Louisville 

101 Bullitt Ln., Suite 110, Louisville, KY

I found out last night Pavel has expanded into property management and I want to give him a plug.  

He is very sharp and he has a background in law.  If you are going to own property in Portland and the West End I think someone with a legal mind is exactly the right person for the task.   

Just a reminder, we have a terrific meeting tomorrow night here in Louisville, KY.  It's your chance to meet one of Kentucky's most knowledgeable real estate attorneys. See you there.

Also, if you have a deal you want to pitch bring your info.

Hope to see you there.

I have a great real estate attorney coming to speak about a great topic.  If you don't already know, Harry Borders is one of the best and his firm helped write the current version of the Realtors contract here in Louisville.  

Join us on the 20th, learn a ton, and meet fellow investors.

Hope to see you there.

Brett