All Forum Posts by: Lauren McCarley

I’m a realtor and an investor. I began investing a decade before getting my license. Honestly I’ve had to explain many things to other realtors. Most realtors only really know single family transactions. There are tons on niches and specialties. It’s simply about finding the right realtor for what you are trying to accomplish. I’m looking to buy a vacation rental out of my area and will most definitely be using a realtor. Even if that realtor doesn’t know how to work the specific numbers I’m looking for, they will still have experience and connections in their area to help me find what I’m looking for. 

My husband and I always purchased a fixer upper so we made money each time we moved. The last one we cashed out and moved into one of our rentals while we built our “forever” home on some land we had purchased a few years prior. We hired o all our own subs and did most of the plumbing and electrical ourselves so ended up saving around $100k over a turn key build. We now utilize our home for the occasional wedding and plan on ramping that part up so that our house is a profit center. I also breed, train and sell horses on our farm but that is an entirely different  thing. We seem to find a way to monetize most things and our personal house is no exception. 

I hire all my subs directly and am not using a general contractor. I’ll do all my own electric too as it’s super easy and saves a few 1000. We’ve done a lots of flips and rentals so have a good network. In my area the under 200k sells very quickly and land costs are most likely not as high as your area, I’d love to build a bigger home/price range but the lots I currently have will need to be under 200

Thank you Greg! That’s the direction I was thinking. You’re right Patrick. I will have to tweak most online plans anyway 

The lots are fairly large .8acres per lot because of road frontage. Utilities are there. It would be best on one lot to have a side entrance garage but other than that it’s fairly wide open. Lots are pretty level 

I’m a buy and hold investor typically but have been flipping some lately in order to make cash to speed along buying more rentals. I’m also a realtor so I’m very comfortable with my comps on this area. I’ve decided to build a few houses to sell after getting a great deal on some land. I’m excited about being able to start from scratch to achieve a really good flow without the wasted space I see in many of the houses I show/sell daily. Should I develop my own plan with an architect that I could use over and over with minor modifications or is something on a site like house plans.com sufficient? I would like to streamline the process so I know exactly what my building costs and sizes are, using exactly 1 slab of granite for example, to maximize efficiency. 

Cash makes the purchase less complicated

If something goes wrong (covid) and Renata can’t pay or be evicted it’s nice to not have a mortgage payment

Less carrying costs on a flip 

There’s a time for leverage and a time for cash. I personally utilize both 

I’m an investor and a realtor and we make low ball offers for investors all the time. Cash talks as well as not doing a formal home inspection as you know the house will need repairs. I’m in a good market but most buyers want move in ready and they are using loan products. So if you walk in and say you won’t ask for any repairs and can close on two weeks, that’s more of a sure thing for a seller, and they will most likely take it seriously and counter. Sounds like you need an agent better versed in investment property. There is a big difference in investments and your neighborhood family home. 

I’m selling a multi family I own and have looked into getting a bigger multi family property, vacation rentals, short term furnished or poultry farming. In AL poultry farms seem to be a big business and I’ve had a few people in passing throw around impressive numbers. Anyone have thoughts or experience?