All Forum Posts by: Greg Parker

You are at the right place.  Go through all of the forums, search keywords, podcasts.

@Alecia Loveless

Yep, I have found that financial advisors tend to give advice that benefits them, not you.  Stick with the low coc return and play the long term appreciation game.

The better the neighborhood, the better the appreciation.  And, of course you need some cash flow to save up for the AC, roof, capex.

Definetaly raise that deductible to 5 or 10k.  Be sure to have 1M liability.  You may be able to decrease the 1M on each house if you have a personal liability policy of 1M.

That is thinking outside of the box.  Love it.  Said a friend, naturally I would not condone such behavior. 

I have a couple of good ones in Montgomery, al.

Agreed.  Start smaller, purchase for cash 200k, 50k for renovation and holding costs.  Then, refinance and keep repeating that.

I have and I will.  If I have a good client that buys multiple houses, I will gladly throw some money in to keep them happy. Move on to the next deal.  Always do the right thing and it will come back to you tenfold.  

I suppose it depends on the amount of the EM.  If you are going to lose $1,000, then lessen learned about having precise contingencies and due diligence dates.  Let them keep the money but let eveyone involved know they have forfieted a lifetime of RE deals with you over a few bucks.  If it is several thousand, I would want to get it back.  Each state will have procedures in place on who will mediate an EM dispute, sometimes a probate judge. Your agent will know the procedures.  Normally, when the listing broker realizes it is going to court, they will pay up before it gets that far.

Geez, that is bad.  Sell it and buy in Alabama.  We just call the cops, they are removed in 30 minutes.

The new squatters law passed in 2024 gave owners of dwellings the right to have law enforcement remove squatters from property, provided the owner filled out a required affidavit. This was supposed to be an improvement over the former law enforcement response of "Sounds like a civil matter to me. Talk to an attorney."

The new law amended Alabama Code Sections 13A-7-7 and 13A-10-102

Yep, avoid working for friends and family.  The problem I always encounter is, you own the project for life.  6 years later they will call and say, "you remember that doorknob you installed?".  "Well, a screw is loose, can you swing by and tighten that up?"  "Yeah, I remember you installed it for free, but I don't have a screwdriver"!