All Forum Posts by: Jody Schnurrenberger

I'd check out the webinars on how to get started and do lots of analyses.   It looks like you know what you're doing with foreclosures, though, so that might be what you want to focus on.  I've never bought a foreclosure, so I'm sort of jealous.  ;-)

I have 5 doors in Auburn, AL and have had no problems with vacancies.  Actually, all my renters are longer-term.  I think the shortest person has been there 3 years.  I guess they like me.  :-)

I thought you meant CRYSTAL meth was found on the property!  HAHAHA!  That's the whole reason I opened this post.  I was curious about your drug woes.  (No offense!)  As for the more boring kind of meth, I don't know.  I'd back out, but then, I don't know anything about it.  Good luck with whatever you decide! 

I bet YOU wish it was crystal meth found, too.  That's a lot easier to get rid of, I bet...  ;-)  Good luck!

Thank you for the welcomes everyone!  I'm very happy here!  :-)

@Chris Martin, Oooohhh...Okay.  Well, that sounds MUCH better!  lol  Congratulations!  I'm glad you found a spot you are happy with.  :-)

@Soh Tanaka, I get your point, but if I have a bad turn of luck and end up on unemployment, I can survive much more easily if I don't have a mortgage.  Also, who keeps $80k lying around?  lol  I think most folks would have either invested that in another property and then have 2 mortgages to worry about or would have it in the stock market, which, if the downturn is only in your personal/professional life, I admit, is better than having a house paid for.  But if it's in the economy, you probably don't have that whole $80k anymore.  Yikes!  Personally, I vote for a paid for house AND $80k in the stock market.  lol

@Jeff Weaver--EEK!  Good to know!  Thanks!  But it's one less mortgage to worry about when all else is going wrong.  lol  But thanks for that info!

@Chris Martin, thanks for putting the link for your tier 2 market comment.  I appreciate that.  I feel smarter already.  :-)  I was basing my opinion on this blog post (plus looking on Sperling's Best Places to Live site for crime and housing stats).  

https://www.biggerpockets.com/renewsblog/cities-re...

But I do believe there are good deals to be had anywhere.  Some might just be harder to find.  Also, it depends on what you are looking for.  

I'm sorry your investments have been losing in Raleigh lately, but I suppose that's good news for me for not getting in sooner.  lol  (Sorry.  Rude joke.  ;-) ) 

Greenville is your favorite spot, huh?  Auburn, AL (my home town--sentimental reasons it's my favorite) is mine, but my financial planner doesn't want me to have more than 3 properties in any one city in case things go awry.  It makes sense to me, so I'm following his advice...to Raleigh.  lol

NOT ME!  I hate number, math, etc.  I bought the PRO membership even though I don't plan on buying any more property until next year just to be able to easily practice.  No way am I doing that by hand!  lol

@Lana Lee, I bet there are if you really dug.  Consider distressed sellers (like those facing foreclosures).  One person recently mentioned having done several deals where he offered like $50k under the value to people facing foreclosure with the stipulation that they can live there another year for reduced rent.  He said to be careful because they are already having money trouble, but so far, it's worked out for him.  He doesn't make money the first year, but considering he's saving a crap ton of money, it's okay.  (He didn't tell me the original prices, but for a $70k place, maybe offer $35k or $40k.)  Also, if they don't pay, you can always evict them.

Don't be afraid to give a lower offer if that's what you need to make the numbers work.  Brandon Turner, who works here, says 9 out of 10 of his offers are declined, but that 10th one makes it all worth it.  :-)

Another option, consider just shopping in another area.  LOTS of folks have property in places they don't live.  You have to get a good agent and do a bit more research, but it can work out great.