All Forum Posts by: Jill Addison

Slow flipping is a new term for an old practice: buy a house, then sell it someone else with seller financing.

Hey there!

If you're a slow flipper in Memphis, please share with me 1) what contracts you use and 2) info about the foreclosure/eviction process.

Thanks!

Jill

I'm thinking about hiring Anthony Turco as a wholesaling real estate mentor. Anyone have experience with him?

I just saw this question (sorry, it's been 2 years since you asked, ha ha). Anyway, I did end up closing all THREE loans! One of them has turned out to be my very best property, consistent high rents and very few repairs. Thank you, God!

So sorry, I just saw your question about contacts to a good realtor in Knoxville: yes, I have an excellent realtor to recommend: Solange Velas. Hope you get this!

@Michael Gonzales I would also love to hear your hard lessons if we could connect too. Let me know. Thanks!

@Jon K. Thank you for generously sharing all this info! How many mailers do you send out every month to close two deals a month?

@Vivan Bhalla your property manager has proven that they are not good at their job, so you need to replace them immediately. I know this from experience. I had a property manager that I could tell was not good, but I was just too busy to deal with it so I didn't replace them immediately, and they ended up hiring a plumber who also was not good and then I had to have that plumber's work redone at a cost of $12,000. It cost me dearly to not take quick action when I saw that the property manager was not doing a good job. Don't make the same mistake I did. Find a new property manager immediately. "When someone shows you who they are, believe them the first time."

@Stephen Jones seems like the rental market is softening. I bought a house a few months ago and my property manager was aggressive in trying to get me the top of the market rents and it just sat there for 2 months. Finally we reduced the rent until it rented right away. The next two vacancies I had come up I told my property manager to just make sure it was re-leased within two weeks and not even raise the rent. I read somewhere that rent increases will probably not happen for the next 12 to 18 months, and a property manager for a different property in another state advised me to not raise the rents because that's what they were seeing in their market, demand is softening. So I just feel like I'd rather not have vacancies and keep the renters I have at least for a year. On the other hand, I know it's important to keep gradually increasing the rent so you don't fall behind where the market is and it's hard to catch up. That can also be a disservice to your tenants if you fall so far behind where the market rent is that then when they eventually have to move out for some reason, they have sticker shock at what they're going to have to pay somewhere else.

@Jake Andronico what a great story! Thanks for sharing. It's so awesome that you've gotten this early guidance and support to get started so early. I see a very bright future for you! Not only in building wealth by starting early, but also just everything you're learning about life and being a productive successful person. Congrats and keep pushing forward!