All Forum Posts by: Justin Putt

LOL, not that Huntsville. I used to live in Ohio for a while but otherwise have lived in Alabama my whole life. Hope to network with some investors here.

I am an older member on Biggerpockets and it has been a few years since I have been on the site. I am a licensed Real Estate agent here in the thriving area of Huntsville, Alabama! I have a ton of experience in investing and working with investors of all kinds but still feel like I learn something new everyday.

Looking forward to getting back on here and learning and networking with other investors across the country.

So I have been a member here for some time now but have not been around the forums in a while. I thought since it has been so long I would make a new member post because things have changed around here so much anyway. :D

I recently have moved to Huntsville, AL where I am originally from. Currently working on getting my realtor license for Alabama.

Also, with a partner, we have recently started a vacant property service company. We do trash outs, lock changes, winterizing, cleaning services, lawn care management, and several other services.

I said Ohio in the subject because I still work for a realtor in Cincinnati who specializes in REOs. I assist him with several different things with his business and have been able to learn a lot working from him.

Look forward to networking with everyone here again. :D

Email me sometime and we can talk about Indianapolis. I have some contacts over there and also own a 4 unit there.

I must agree with Mike though, you should focus on working on your credit and bringing in income. A few years ago investors could buy investment NOO properties at 100% with no money down at a good rate, now you have to have cash to put down and your credit has to be very good for a bank to take a risk on you.

Email me sometime if you want to discuss things.

Detroit really really scares me. I like the fact there are tons of great deals on the market right now, but in Detroit there seems to be ALOT. The economy really scares me as well there. I get deals sent to me all the time from Detroit, sometimes 40 cents on the dollar. The only thing I can see is buying them to hold for cash flow, and then hope the economy gets better in the future.

I love Grand Rapids because the economy is great, there are so many awesome projects going on in the city, tons of new jobs added all the time. Plus the crime even in the bad parts are nothing compared to Detroit, or most cities for that matter. And the deals I am getting are great!

I debate this on a weekly basis. It can only help and I do not see it hurting you in anyway. For me its just if I want to take the time and money to get my license.

I have thought about doing it so I can get half the commission when I buy a property. I have also thought about doing it so I can eventually be a broker and have agents working for me.

Its a win-win situation I believe, and I think its smart for anyone starting out.

What part of Michigan is this property in?

Minna,

Just curious, what did you end up doing? Did you get your license, if so how is it working out?

I am still debating on this myself.

Jeff,

Not to go to much off topic, but I really like where I invest at. Its where I invest at primarily if that tells you anything. I am a newer investor, and unforunately when I started, flipping on the retail market became really hard.

Now my primary exit strategy is to sell to other buy and hold investors at a great discount. We get them rehabbed up to full city compliance and my property management company markets to potential tenants.
The market I buy in has some incredible deals right now and because of that I can easily sell my rehabbed rentals for incredible discounts to investors looking to buy and hold for cash flow.

My secondary exit strategy is to just refinance, pull out some money, and keep the property as a rental, preferably on a lease option.

I love lease options, especially in today's market. I get to pull out some money in the front from the refi and their deposit, plus monthly cash flow. Then we work with the person's credit to get them to buy back the property within 12 months. Of course all of these people are pre-screened to ensure they can buy within 12 months on the right course.

Feel free to email me if you want more information.

I have honestly always been opposed to this idea, but I am a different type of investor I think than Minna. My primary source for finding properties is through my real estate team in Michigan, where I invest and rehab. I primarily buy bank owned properties. Since I am an out of state investor I do not see it being benefical to me right now.

Now in the future, possibly next year, I plan on looking for deals around where I live, I could see how having a license would be a great idea for finding properties as you would have full MLS access and be able to make contracts on REOs first, plus get a small commission on every property you purchase.

The problem for myself is I do not want to sell people's houses, the only thing I would use for licensing is buying my properties, maybe finding people homes, and having a legal way of accepting referral fees through birddogging.