All Forum Posts by: Nina Granberry

@Desha Charles sure, shoot me a message when you’re ready.

@Mary Johnson thank you!

Hey BP Family,

It's been a while since I lasted posted anything in the forums. That is due to the speed with which my investing career has taken off. It feels like God is giving me success at warp speed. It hasn't been by chance, though. My desire and passion for real estate has always been there; I just did not feel like I had the time nor did I know where to start up until this year. As a high school math teacher of 13 years, I spent most of my time in school, investing in the students and my school community. When schools abruptly shut down in March and I was forced to work remotely, I took the opportunity to commit myself fully to taking action in my real estate journey. And, really, I think that decision was all that I needed start making progress. 

Some other things come to mind, too, as catalysts:

Mindset - I did not know that I could be an investor until I started consuming knowledge and acting on that knowledge. My journey literally started by me reaching out to a guest that I had listened to on the BP podcast. My first buy and hold property eventually came from that exchange. I did not know the power of writing affirmations until I began writing them and seeing monumental change in my thoughts and self-confidence. So many of the affirmations that I wrote and recited have come to pass already. It's caused me to be sure that anything I write down and focus on, I can achieve.

Consistent daily action - before school started back up and before I became really busy, i used the bp pro habits tracker to build a daily routine of real estate consumption. It consisted of listening to a podcast episode, reading/responding to a forum post, analyze a deal and read an article. I did this every day. And attended the weekly webinars hosted by Brandon. Now, the habits look a bit different but each day, I commit myself to moving closer to my goal through RE (time and financial freedom). 

Connecting with a team - I met the person that I now work with as a business through a BP mastermind. The four of us started working together in July and have seen good success in our wholesaling business. The power of working with a team has sped up the process and I am grateful.

Investing in myself - I have invested in 3 different opportunities since beginning my real estate journey in late March. And each one of them have been great investments that have helped me get to where I am today. My mentors - Mit Smith, Mitch Messer, and Doug Depte - have taught me things that I cannot unlearn. They have helped me build a solid foundation. Without the sound teaching and commitment of Mit, I would not have been able to wholesale 10 houses in less than 90 days. All of the money that I put into my first investment (rookie mistake), I recovered through taking a risk on myself and believing in what I could do.

I know there is still much to learn and I am excited to continue learning and growing and taking action. I am looking forward to the next set of months to see where my journey leads me.

Hi BP,

I am currently analyzing properties for an owner looking to sell off his entire portfolio. As I run the numbers on these properties, I was wondering if there are any investors here that could give me an of what the annual insurance costs are for a 3/1 single family home in the 64130 area? And a duplex? The properties are not in the best condition. Thanks for your input and feedback!

 Good question.  

As you start your BRRRRing journey, it will be helpful to practice analyzing deals on your own so that you can start to identify what would qualify as a good deal to you, and you wouldn't have to rely 100% on what anyone tells you. If you decide to ask realtors about the ARV in an area, make sure you ask at least 3 different realtors to make sure the numbers they give you are accurate.

I am an OOS investor as well and purchased my first buy and hold property (a duplex) in June. Good luck on your journey.

Welcome to REI, Josean. I read your profile and noticed that you are currently in PR and already have big goals in mind. Good. I would say that you should save and build on that $5k. Keep saving and building until you have a clearer idea of what you want to invest in exactly as far as real estate is concerned (something that @Brandon Turner calls "crystal clear criteria"). Like, right now your 5k could cover a 3.5% downpayment on a property using an FHA loan, for example. But is that something that you would be interested/capable of doing right now? Only you know the answer to that question. You already have some goals. Maybe take time to work backwards from those goals by creating action steps you can take to achieve said goals. You don't have to rush into using your $5k right now. Building up your capital, though, is always a good idea because it can help you to have options when the time comes to make decisions. Hope this helps.

Hi Kha - congrats on your success so far in wholesaling. I am in my 4th week of wholesaling and learning alot and growing. So far, I've gotten 3 deals under contract and in the process of bringing 2/3 of those deals to close very soon. How did you go about hiring your VAs in the Philippines?

Investment Info:

Single-family residence wholesale investment in Kansas City.

Purchase price: $20,000
Sale price: $35,000

Contributors:
Damon Caldwell

This was my very first wholesale deal that I completed just 7 days after completing a 4-day master class with Mit Smith entitled 9 to 5 Flipping Master Class. Because I am from KCMO and just purchased my first rental property in Belton, MO, I felt like this was a comfortable market to start with as a wholesaler.

How did you find this deal and how did you negotiate it?

I pulled a list from propstream using certain filters, skip-traced the list and left a voicemail with this seller. He sent me a text message saying that the property I had called about wasn't available, but that he had another property. And voila, this golden nugget!

What was the outcome?

I partnered with Damon Caldwell, also a wholesaler in KCMO. He was able to quickly find a cash buyer for this deal because it was in such an excellent market. It wasn't available for long.

Lessons learned? Challenges?

Honestly, this process went so smoothly. I read affirmations and I believe those set me up for success with this deal. I also had an excellent teacher in Mit Smith from the master class that I took on wholesaling. I felt prepared each step of the way in the process, from finding seller, to finding cash buyer, to contracts, marketing, partnering, etc.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Damon Caldwell on this deal.

Investment Info:

Single-family residence wholesale investment in Mcdonough.

Purchase price: $20,000
Sale price: $21,500

This was a virtual wholesale deal. This definitely was a learning experience. We wanted to help the owner, though, by covering delinquent taxes on the property. They told me that their father had passed away and left the property to them. I posted this property on FB Marketplace, Craigslist, and here on BP. I learned to adjust the price based on the interest (or lack thereof) aka number of inquiries I received.

I completed this deal through an SMS message campaign. Basically, I never had to pick up the phone to call this seller in order to complete the transaction. I never had to pick up the phone to find the cash buyer either. Social media did all of that for me.

How did you find this deal and how did you negotiate it?

Pulled a list from Propstream using certain filters, skip-traced the list, then conducted a message campaign to find motivated sellers from the list.

How did you add value to the deal?

I didn't. I bought and sold the property "as-is".

What was the outcome?

I successfully found a cash buyer through FB marketplace.

Lessons learned? Challenges?

+ I need more practice/guidance on accurately estimating repair costs
+ a checklist for what to do to thoroughly evaluate a wholesale deal before making an offer

Hi Bryan - having just purchased my very first duplex rental property last month with inherited tenants, I guess I would prefer the units be occupied. I feel like having tenants removes the task of having to find tenants right away. Sometimes you can get lucky. For instance, in one unit, the process of taking over as the new owner has been relatively smooth. He quickly provided his contact info and created a tenant account for us to communicate through tenantcloud and he has been paying his rent on time (even a few days ahead of time). The other tenant, however, has been a real headache...basically doing the opposite of everything the aforementioned tenant has done. As a result, I will be moving that tenant out next month to complete necessary rehab to raise the rent to market rate.

Having gone through this experience, I can also see the benefit in having vacant units and vetting your own tenants. In that way, you can be more certain that the tenants will meet your standards and make sure they are able to successfully meet all requirements. I will be doing that in the very near future!