All Forum Posts by: Katlynn Teague

Hey John! 
The best advice I could give you would be to reach out to a closing/title attorney in your area. Every state has different rules and regulations about foreclosures, better to ask a professional in the field to make sure you have everything in line! In regards to the assignment fee, the deal has to make sense. Everyone who invests in real estate knows that you make your money when you buy. Pull comps throughout the area so you have an ARV to work off of, if you are unsure reach out to an agent in the area for help. Most importantly WALK THE PROPERTY so you have a general idea of what work needs to be done, maybe even get a contractor quote so it's a legit number to work off of. Once you have this information about the property agree on a price and decide your assignment fee from there! Every state has contracts that are specified for all real estate transactions, again I would either go to an agent or closing/title attorney in the area to make sure. I hope this helps, happy investing!

I have never used it. However, I have seen many posts throughout this forum about others who have used it. Some had called through with some success and others had not had any. I honestly think it depends on your market! 

 Thank you so much Jenny! 

 Thank you so much Jacob and hahaha absolutely. Would love to connect!

CELEBRATING MY FIRST YEAR WITH NETWORTH!

A little bit about my first year:
I celebrated my first year in real estate with NetWorth on August 22! This first year has taught me so much. Getting into real estate I knew the statistics, almost every agent fails their first year and I was determined that was not going to be me. I started working my a** off and sold my first property in a month and a half. Two weeks after I got into a terrible car accident. I had to take time off work to give my body time to heal and find another vehicle. Finally, after what felt like forever I was back in the office (on crutches) trying to get back on schedule. For the remainder of the year, I was playing catch-up on the time I missed while being out. January hit and I sold my second property. February I sold my third. In March I sold two properties back to back. I was on top of the world, my hard work was finally paying off! Then title issues started to rise and then a squatter moved into one of the properties four days before close. Needless to say neither of these deals closed. I was absolutely devastated. Wondering what I could have done to prevent these issues. Questioning myself if this was actually the field I was meant to be in. April came around and I sold another property, which helped me get back up on my feet again however, I was still lost. I would come into the office so unmotivated worried that I would never be successful. I spent alot of time in my head which started to negatively influence my business. In June I went on a 16 day trip to Europe with my family and it was all the medicine I needed.

When I came back I promised myself I was going to stay consistent. I was going to stay motivated. I was going to be successful. Since coming back I have been producing the most meetings in the office. Working to get another property sold and I have been close. Its just a matter of time.

Moral of this story is to let everyone know REAL ESTATE IS HARD. There will be times you will be challenged more than you ever have. You will be stressed out 25/8 and it is not easy at all. But it will always be worth it. I am looking forward to year two and seeing what will come!

Shayla, what hedgefund are you working with?

Reach out to a local realtor or mentor you have and discuss the deal with them. Make sure your first one is a good one. If you go to your buyers with a deal that's not strong you will lose them. In regards to the contract, looks like someone sent it over to you! If you are local to the area, walk the property before going UC! 

I know someone who has used it and he seems to be doing fairly well. Just depends upon the situation I guess! 

Hey Javon, welcome to Atlanta! 
House hacking here is all about location. Decatur is a hot market, there are duplexes here and they tend to sell fast! You must be ready to move to secure your property before another investor can get there. Triplexes are also a great strategy however, most triplexes in Atlanta are not in the best parts of town. I highly recommend taking a trip down here and driving the neighborhoods you are interested in because they vary greatly! Depending on your part of town your tenants will also change, since you are going to be living there you want to make sure the people beside you are solid. 

They work great.....just not in cities with code enforcement. I have made it a part of my daily tasks to get 30 out. The best part is you can target areas and the investors are calling you. I have seen better turnover rates with signs than cold calling!