All Forum Posts by: Julie Radebaugh

Ok, all these responses have been terrific learning! I would love to hear advice on our personal situation: We only started investing during the downturn few years ago (in 2012) and were able to acquire 2 duplexes and 2 single family homes in what is now a great area of the city. Good cashflow, 3.9% interest, and properties are worth 3X more now. But that's nothing to retire on. Then 2 years ago I got more education, and got a little more aggressive, (motivated by fear, because I just turned 60 and husband is 55), and I looked in a nice, slowly up and coming town 30 minutes outside the city and bought 4 duplexes, and 4 single family homes (so far). I'm excited about real estate, it's been the best thing we have ever done. But we are a little tight, and in debt having used a HELOC on our home to do some rehab. We DO have decent equity in the first properties. Not sure how to proceed. Take equity out and pay off the heloc and credit cards? Or buy another house, as there are still good deals in my area and not a lot of investors are there yet. Or sit tight and pay stuff down and wait for the correction? What would YOU do?

Hey guys!

I need help big time! I think I am the only person so far that has knowledge and information on an investor package of 26 houses in an emerging market outside of Nashville. Nashville is so hot, that anything affordable is more and more south. So that's where this is. If I can even get the financing and/or partners to do it, it is a LOT of scruffy, way-under-market-rent houses to have to turn around. They are all at least $200 under market rents, and I don't know yet how many new roofs, HVACs, if any, windows, electrical updates may be needed yet. I have a great management company that may help. But my question is, should we try to even acquire a package like this? They are 100% occupied. Overall price per house would be like, $40k. (I DO have the team to fix, manage, rehab, etc--but getting the money is a different story! I'm putting together a portfolio for potential lenders to show them the hotness and investment worthiness of the area  :) May rehab some, sell some off, etc. 

Hey guys!

I need help big time! I think I am the only person so far that has knowledge and information on an investor package of 26 houses in an emerging market outside of Nashville. Nashville is so hot, that anything affordable is more and more south. So that's where this is. If I can even get the financing and/or partners to do it, it is a LOT of scruffy, way-under-market-rent houses to have to turn around. They are all at least $200 under market rents, and I don't know yet how many new roofs, HVACs, if any, windows, electrical updates may be needed yet. I have a great management company that may help. But my question is, should we try to even acquire a package like this? They are 100% occupied. Overall price per house would be like, $40k. (I DO have the team to fix, manage, rehab, etc--but getting the money is a different story! I'm putting together a portfolio for potential lenders to show them the hotness and investment worthiness of the area  :) May rehab some, sell some off, etc. 

Chase, 

Since you are up in Lansing, if you are going to stay, why don't you attend the local REI there and learn about the rental, or buy & flip market there? And you have Detroit 1.5 hours away where there is a LOT of opportunity. You can still buy a house there for $8000! In an OK area for $18-$25k. (I was raised there).

Chase, 

Investing or buying a mobile home PARK can be a great venture. Of course it would be a lot of work and take up all your time unless you have a qualified on site manager. Working the mobile home parks to buy individual HOMES is getting harder and harder, as there are several huge corporate entities that are now snapping up all the parks. I had several mobile homes that we bought cheap, cleaned up and took back the note after we received a good chunk of our investment back as a down payment. The income was good and lasted a few years til the home was all paid off. Then it was gone. We couldn't keep it up because of the reasons mentioned above. Big companies buying the parks and not wanting investors coming in to buy the homes there, or have control in their parks. You can check out Lonnie Scruggs book about the subject, but I don't believe it really applies in many areas of the country today.

Hello Stan,

Wholesaling is a great way to make money in real estate. Between '08-'13, many new people came into the RE world and tried their hand at it. It is much more difficult to do in this market, requiring many hours of research and foot work. I don't do it anymore unless it comes my way via a property that I don't want, but can work with an owner to wholesale it off. I know a guy here in Nashville who is doing it full time still, and supporting his family. You can call him to see if he can give you some tips; or maybe even work for him. Contact the Patrick Grace Group, Nashville. Ask for Martin.