All Forum Posts by: Jeremy M.

@Ashley Deer I just saw your question on this thread. Have you tried using Google Forms for what you want to accomplish here? I'm not positive you can share a link to your form publicly but I do know you can send to email addresses. I advertised on FB marketplace and asked that interested parties PM me their email address for more details. On the ones that actually did contact me, I shared details, a youtube link of a walkthrough on the property and a link to the intake form I created.

Hope you find what you need!

@Jason D. Earning more equals saving more? I can't quote stats but I would question if that is the reality in most cases. Also if a degree is so helpful, how do we explain the correlation between a higher number of people having college degrees than ever before, yet savings rates and debt are worse? What many fail to account for is the human element in this equation.

I believe there are degrees that can be beneficial...if someone is intentional. I just don't subscribe to the oversold idea that it's necessary to be successful. College degrees cost more than they ever have and appear to be worth less than they ever have.

@Lee Haenschen Hey... I feel your pain on getting started. You definitely don't need a commercial loan for a SFH investment property. PM me and I'll send you a few references for lenders if you're still looking.

Deals are tight right now...especially for a true BRRR but they're out there occasionally. Even on the MLS. My encouragement is to see things others don't, buy location, school districts ect. If you're buying fixer-uppers, talk to the listing agent. Make offers and convey to the seller why you're offering X.

Best!

Here are a few links to get started on. Tons of argument discussion on this if you search the site for it. 

https://www.biggerpockets.com/forums/519/topics/45...

https://www.biggerpockets.com/forums/50/topics/587...

I think @Brian Corbett is correct on this. NC has a 5 day grace period - 6th day you can send the "pay or quit".  

@Minuit Spence  I hear you on this. When I see questions like this on BP, I ask myself what I would do, in my current location, if this were my situation? Bear in mind, there are soo many variables but here are a few comments on where I think I would start. These comments are making the assumption that right now you've got more time than $$ and that you'll self educate, know where you want to go and have a bit of an idea what you want to do when you get there. 

1) I second getting a license at some point. If you can be a good realtor that knows his areas, returns phone calls and simply does what he says he'll do, you'll be a step up from the pack. Whether it's now or later, you could use this to generate some cash for capital. 

2) The cash flow. Are you able to find the proverbial burned out landlord that would let you sublease a property you could improve upon and generate cash flow? He doesn't have to deal with tenants, you don't have to deal with owning a property ect?  Mom & Pop operations are still much more liable to let you trade work for $$, ect. Just make sure you have the necessities in writing. Subleasing is a niche that I wouldn't recommend doing without making sure it was done right. Again, in your situation, I think I'd take a look at it. 

3) I would recommend finding a place where you can learn some hands on experience actually working on a house. Maybe you could find a landlord that needs flooring replaced or furnish labor for something. You could get a chance to build a relationship, see what his houses look like, what he's getting for rent ect. 

4) The credit score needs to be addressed. I would question why it's that low and recommend seeing what needs to be done to work on that score. Maybe opening a secured bank card for $300, using it for gas and for sure paying it in full every month. Credit score is not the be-all and end-all of investing but it is often (not always) a symptom of habits that banks and lenders don't like. Unless you're entirely private funded they make the rules for the games we play. We just learn how to work those rules. 

Best of luck! Don't give up!  My .02

@Arbi A. kudos to you for keeping it real and sharing this! I hate that it happened to you and wish you all the best in moving forward. 

Flipping gets a lot of social/media attention and it's been so the cool thing to do. I often wonder if there are as many HGTV types out doing it as there seems to be and what kind of numbers they're showing? 

I've seen this posted in the forums before but it was a new experience for me today...had a rental listed, crossposted actually, on a few different sites.  I get a phone call asking if I'm the property owner. When I confirmed that, the caller stated that she'd talked to "Eric" earlier and he was out of town and she needed to send him the deposit and he'd send her the keys. *eyeroll & sigh  I got the phone number and called inquiring about the rental. "Eric" answered, then acted like we had a bad connection and hung up. He texted me almost immediately and said the rental was no longer available.

I've done a bit of Googling and it seems we have no good recourse for this type of scum. Has anyone else been successful in tracking down phone numbers ect? Reporting it seems to be an exercise in futility.  

@Kalyn Williams I would definitely recommend Cozy in your situation. I've used it for a few years now and it's been great. Initially, I do take some time to educate tenants on how it works, help with setup if I need to but then you're good to go. Like others have mentioned I would not recommend the conditioning you're doing on tenants now. You want to set the expectations and the expectation is that you make it easy for them to pay rent and you expect it paid on time every time. 

Also, don't mind @Caleb Heimsoth too much. ;P   From what little I know about him in the forums, he's actually a pretty decent guy...

Good luck!