All Forum Posts by: Courtney James

@Travis Evenson

Try alternative options such as seller financing which is alive and well, if you can find the right seller. 

Try connecting with investors in Ohio with larger portfolios, they may be experienced in SF and more apt to lending to you. Also, could you elaborate on the friend who is willing to invest with you? Are you thinking of combining funds as a partnership, or would they be simply a lender? 

@Saad D. 

I would go for an LLC with an operating agreement that identifies you both as partners.

Yes, the majority of people are just inquisitive regarding how I was able to get their number.

Have you ever tried contacting potential sellers on social media, like Facebook? I think this would be almost less intrusive, either way you have to get in front of them somehow. 

Hi, @Jay Martin

I send a lot cold text messages, I have found this to be the best way to receive an instantaneous response. I have received a lot of no's just like everyone else but I have never received a nasty response. I keep my text messaging very casual and informal, think friendly neighbor and get pretty good feedback.

I think if you get no reply with the text, it is a good idea to follow up with a call about a week later. 

Congrats, @Chris Hines! 

Sounds like the challenge of managing contractors from a distance is paying off!

Hi, Jeff. 

Do you still host events such as these? I would love to make some connections. 

-Courtney

Hi, BP-ers! 

I am from Ohio and I love this state! My company invests in Stark County, OH, we focus on fix/flips and buy/holds. 

Do you invest in Ohio too? If so where at and what do you find most attractive about the market you are in?
 

We purchased a fully occupied duplex in November, one tenant had a 12 month lease in place which expires August 2020 and the other tenant was on a month to month lease. We were able to give a 60-day notice to the one tenant but we had to inherit the other tenant as our own. 

Going forward, (on a case-by-case basis) I will ensure there is a contingency for the property to be unoccupied prior to us taking ownership that way the responsibility falls upon the seller and is less stressful on us. 

I personally like vetting my own tenants, rather than inheriting possible issues. 

My partner and I have been doing deals on our own for about a year, we have grown from nothing to 4 doors in about 16 months, two being full rehab projects.  

We've really built our team up around us including partners, investor friendly RE agent, an attorney and a tax professional. We are big on investing in doing it right the first time, rather than trying to be an expert in every area. I sought out my mentor really for the wisdom and guidance he could bring the current deals we have found and are in the midst of closing on our own. As well as overall business advice because this is not a side hustle for us but something we are looking to transform into a full scale business. 

One of the many great things about my mentor is, not only does he 20+ years of experience in our market, he is also a computer guy/data analyst so we have made an agreement for him to pull probate/evictions list for us as well as providing forms to contact sellers. I would say the small fee I pay in relation to the potential payoff is greatly worth it! 

Thanks for responding, Joel! I am glad to hear others have had beneficial mentorship experiences, I think it is pertinent, especially when just starting out. 

In 2019, I made it a goal to find an REI focused mentor to help me develop as an investor and business owner. I started working with my mentor in November and I have really enjoyed my experience so far, I feel as though I gain insight that I would otherwise not have access to and I am being pushed outside of my comfort zone.

Since January is the month of goal/intention setting, I think it would be valuable to hear you share your mentor/mentee experiences and how they have impacted your business. 

Thanks for reading & I am excited to hear your story!