All Forum Posts by: Brenden Mitchum

@Demarcus Crump

As @Daniel Haberkost mentioned, simply running a google or yellow pages search on them often will give you a number or two. This is what I do since I'm not typically running large lists but rather looking for specific owners. You can try companies like Lead Sherpa, but I can't vouch for any of those, as I have not used them. 

If you find a good service for the price, let me know!

Hey @Chase Guelette

As far as I know there is no service that provides free lists. You can develop your own list by driving4deals then skiptracing w/county tax assessor and yellow pages. This will take time and may not even get you reliable leads, but aside from gas it would be free. You can also purchase lists from sites like listsource but not sure if you would consider these "cheap."

There is not "best list," but there are tons of options so just pick one or two and stick with it. The important thing here is just being diligent and persistent. 

If you have any questions or just want to chat, feel free to message me anytime!

Hey @Eli Bellevue!

Welcome (soon) to Atlanta!

I am an investor and agent in NE Fulton county so I am very familiar with Gwinnett and Dekalb. 

I have not officially joined a REIA here but pre-corona there were tons of networking events every week held by the various real estate groups in the area. I have no idea when these will start back up but many are now doing virtual meetups and, of course, BP is a great place to network to start building those connections before you come out.

Always looking to connect with wholesalers and help new investors to the area. So feel free to message me anytime if you have questions or just want to chat about the Atlanta market!

Hey @Vernon Calhoun, welcome to the BP community!

Atlanta does have some great BRRRR opportunities since the city is expanding like crazy. That being said, you will be hard-pressed to find anything within that all-in price tag. You might have some luck in West Atlanta or East Point. However, I typically do not recommend these properties to my own long-term rental clients due to the management difficulties. For this reason, I definitely would not recommend for an OOS investor. You might have some luck in the outlying counties like Douglas and Paulding. Other than that, your best bet is to get in touch with some wholesalers or start generating your own off-market leads.

Please, feel free to reach out anytime if you have questions or just want to chat about the Atlanta market!

Hey @Account Closed welcome to the BP community!

Sounds to me like there are some pretty glaring reasons you should not buy this property. 

1. It was an emotional buy, which is never a good thing if your plan is to invest.

2. You will be self-managing remotely. Unless you use an app like airbnb and have a great maid service, this won't work.

3. This is probably the worse time in history to purchase a vacation rental. Have you looked at airbnbs in that area to see what their availability is? Yes, people are still doing mini vacations to get out of their houses but now that many are returning to work this will decrease. I think even if it was on a lake with a pool and a boat, it would probably still have high vacancy right now and who knows when things will return to "normal."

That being said, I am not a STR guy so hopefully someone who is experiencing this right now can jump in and give their advice.

Hope this helps a bit and please feel free to message me anytime if you have questions or just want to chat! 

Hey @Luis Vilar

I think those indicators are just fine to start with. Don't analyze yourself into oblivion here. Just pick several markets that you would be interested in living/investing in, make sure the market is decent and get at it. You can find deals in just about any market. Some are hotter than others, some are more expensive than others. So just find one that aligns with you and you plan and start analyzing deals and building relationships. Most larger markets have a bunch of submarkets anyways so once you do choose a market you can do more in-depth, boots-on-the-ground analysis to find out which submarket works best for your strategy.

Hope this helps and please feel free to reach out to me anytime if you have questions or just want to chat!

Hey @Timothy Jacob Wallace

Building on @Rachel H.'s great advice, I would say really take a look at the demand in the area. Are those lots vacant simply because the owner did not really want the extra work of filling them? Or are they vacant because there is little to no demand for lots in the area. A good way to check this is to take a look at other MHPs in the area and see what their vacancy is. You might even want to post a test add on craigslist and facebook to see how many calls you get. Following the Frank Rolfe logic, if you get at least 9/week you are probably good to go. Keep in mind, bringing in homes is no simple task, especially in rural areas. Unless you get lucky and a nearby park shuts down, you will have to bring them in one by one and likely won't have the option of doing a program such as the Clayton Cash Program. So just make sure that you are not paying anything for these empty lots so that any lot you do fill only has to add value greater than the cost to fill. 

Please, feel free to reach out anytime if you have other questions or just want to chat about MHPs! 

Hey @Jessica Cooper, welcome to the BP community!

Congrats on getting started analyzing deals. This is definitely a great actionable first step. It's hard to fully explain the analyzation property in a book but Brandon does frequently put on webinars here on BP where he walks through the process. Keep an eye out for these. They were very helpful for me when I was getting started. He does use the BP calculator but I highly recommend sticking with your own spreadsheet because this forces you to fully understand the individual numbers and how they interact. Using the BP calculator to check your spreadsheet results is helpful though. 

I typically use about 3% for my closing costs. You can get more accurate on this number by speaking with your lender, but 3% is fine for now.

Yes, there is no substitute for driving/walking a neighborhood, but you can definitely do some things to scout it out in advance. If a property meets my numbers criteria, I will then check out the neighborhood on neighborhood scout and the schools on great schools. If those both check out, then I will go out to the neighborhood. 

I'd be happy to take a look at your spreadsheet. The photo file viewer here in the BP forums is not the best but shoot me a message sometime and we can figure it out. Also, if you have other questions or just want to chat, feel free to message me anytime!

Hey @Martin Bastida

I am not sure any one here will just give you their script. I think most investors recognize the power of hard work so would encourage you to develop your own script and test it. So my advice would be to do exactly that. Keep iterating until you have something that works. Then you can outsource this. 

I'm sure if you developed a solid script that you obviously put some time and thought into and posted it here, we would be happy to give you feedback. 

By the way there is no "motivated seller script." Every wholesaler should have a specific script for each type of motivated seller. The divorcee script will be much different than the probate script.

If you have any questions or just want to chat, please feel free to message me anytime!

Hey @Jacqueline Jackson, welcome to the BP community.

While I am not in Birmingham, I think I can provide you with some decent advice that goes for pretty much any market.

While speaking with local investors is great, if you are asking people where you should invest in the city you are currently living then you have not done enough research on the individual submarkets there. I understand you don't want to or might not have the time to drive you entire city and are hoping to narrow down your options here. That being said, there is still plenty you can do to get started. First, start analyzing deals on zillow or find a local agent to get you set up with auto emails. Now, once you find something where the numbers work, check the schools and crime maps. If those look pretty good, then drive out there and walk the neighborhood. Yes, this will take some time but you will start to hone in on the areas that work for your strategy and criteria. Plus, these are steps you will want to take for any property you ever invest in so it's great practice.

Hope this helps! If you ever have any other questions or just want to chat, please feel free to message me anytime!