All Forum Posts by: Jody Powell

@Joseph Konrad

Thanks for the reply. I guess what I am trying to do is understand the particular steps an investor takes when they first see what might be an opportunity. In this case, is it a yellow letter or digging deeper for a phone number or email address? How would you approach the owner--what does the first conversation look like?

I am so new to all of this and I think there is an element of fear about what to do next.

Today I was walking my dog in the neighborhood and noticed an empty house--I have no idea how long it has been empty and I don't know why I didn't notice before--maybe someone just moved out.

I looked it up and saw that it was purchased a little over a year ago for $180,000. Currently the neighbor hood is selling for around $300,000. House was built in 1964 (probably by the same builder who built the one I am in.) The roof looks like it might need some work, but that could have been an illusion from the pine needles. The owner lives just a few blocks away in a very nice looking home with a view (gotta love G Maps.)

House stats:

SFH 3/2 with fireplace

1080 sq ft lot size 6100

carport

taxes $2366

Comparable rentals @$1200-1500

How would you approach this? Is there a creative financing offer I could work up? I am mostly just trying to understand what others would do here, I am not in a position to move on anything yet.

@John Van Uytven I went to school in Carbondale and love Southern Illinois. I am interested in SFH at the moment. No telling what the future will hold.

@Casey Carroll I have heard this recommendation a lot, so I am keeping it in mind and may invest locally first. That being said, I am so out priced in the local market that it makes the numbers difficult to work. Once I wrap my mind around creative financing (which I have been studying, as of today) I might just give that a go.

I am still in the research phase, just trying to get educated and understand what REI is all about.

Hi, BP. I am a new member here, and this is my first post after my intro post. I live in Central Oregon. I am just getting started on my education and am interested in buy and hold in Springfield, IL. I grew up there and have family there who may partner with me. I am looking for good contacts in the area and thought BP might be able to make some recommendations. In particular I am looking for a mortgage broker, though if anyone knows of good contractors, property managers or realtors I would appreciate it. I am looking to build a strong team who i will use for the long term and can have a mutually beneficial relationship with.

Thanks, and I am excited to have found this forum.

Thanks for the welcome @Brandon Turner , I have already set up a couple of keyword alerts.

@Dmitriy Fomichenko thanks for the "meet" link, I was just going to post something about finding others in my area. I will check it out.

Thanks for the reading list. I am currently half way through the Ultimate Beginner's Guide, and plan on getting J Scott's books as well. I have found 2 different REAI's here and will reach out to them. I also downloaded the Rewind book you linked. Nice to find a community that is so helpful and active.

@Ginny Watson

Thanks for the welcome, glad to hear you completedd your first deal.

Hi there. I am just beginning the process of learning about RE investing--I am halfway through The Ultimate Beginner's Guide and have been looking at property prices in Bend, OR and in Springfield, IL (where I grew up and still have family). I will most likely start with my first property in Springfield as I am priced out of the Central Oregon market. However I would eventually like to invest here as well.

I am looking forward to learning and am glad to have found this website (and the podcast--about 20 shows in so far). If anyone from Springfield, IL can recommend any trustworthy and reliable RE people (mortgage broker, PM, realtor etc) I would appreciate it.

Jody