All Forum Posts by: Ronnie Fielder
Ronnie Fielder has started 2 posts and replied 29 times.
Post: What is your favorite quote??
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
If you are the smartest person in the room, then you are in the wrong room.
-Confucius
Post: Monthly Windward REI Meetup
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Yeah, you're getting famous. I'll definitely make contact once I'm back on deck.
Post: Monthly Windward REI Meetup
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
That we will. I'm back in about 2 weeks. Let me know if you want to do any driving before the next meetup. Also, I listened to the latest Podcast (323) yesterday, and you got a pretty good plug on there.
Post: Monthly Windward REI Meetup
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
I'm a little upset that I'm not going to make this one due to being TAD. I'm definitely looking forward to the one next month. Maybe @Brandon Turner will make the island hop to come to the May or June meetup.
Post: FIRST BRRR Complete! Details + Pictures!
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @James Gates:
Originally posted by @Ronnie Fielder:
Originally posted by @James Gates:
Originally posted by @Justin Dao:
Hey @James Gates,
Thank you for sharing your story. As an OOS investor, on which occasions did you feel the need to fly out to Alabama? To meet the team/on closing the property? Any other reason why you may have flown out there?
Second question, it seems like a silly and simple logistical question, but what do you do with the keys if you close from afar? Do you trust a team member to hold onto them or do you get a combination lock with the keys inside and hang it on the door?
Hey Justin, I did feel the need to fly out to the area the first time to meet the boots on the ground team face to face, but after that, I did not fly out again until after we had purchased and completed the rehab. I did a post inspection with the contractor, but looking forward I do not feel the need to do that again now that the team is in place.
GREAT logistical question. This is where having a good team can save you so much headache on such a simple thing. My Property Management and contractor have been able to pick up keys from escrow on the properties, and place them in a lock-box at the property so that everyone on the team has access to the property.
James,
Do all your team members know each other or do they all work independently? I'm curious who your primary team member is and how you get the various team members to check on others work.
The team members did not know each other at the start of the project, but they were in communication with each other throughout the rehab period. My primary team member was the contractor. Accountability is huge. I would have biweekly phone calls with the contractor, and ask for an end of day report via text/pictures to check on how the project was coming along.
Makes sense James. I'm always interested in how others do their long distance real estate investing, especially during a renovation. I have been tied to areas where I have family and/or friends, which I rely upon. As most can figure out, that comes at a cost of lack of skills, motivation, etc. As I continue to grow, I'm looking to move on to all professionals on my team(s).
Post: Crazy Roller Coaster Ride Long Distance Cleveland Duplex
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @Kathy Argento:
@Ronnie Fielder I went to Cleveland several times and asked around.....ALOT! LOL
Kathy,
That seems like the general gist of it; just visiting the investment location, establishing connections, then trusting those connections as you watch from afar.
Post: FIRST BRRR Complete! Details + Pictures!
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @James Gates:
Originally posted by @Justin Dao:
Hey @James Gates,
Thank you for sharing your story. As an OOS investor, on which occasions did you feel the need to fly out to Alabama? To meet the team/on closing the property? Any other reason why you may have flown out there?
Second question, it seems like a silly and simple logistical question, but what do you do with the keys if you close from afar? Do you trust a team member to hold onto them or do you get a combination lock with the keys inside and hang it on the door?
Hey Justin, I did feel the need to fly out to the area the first time to meet the boots on the ground team face to face, but after that, I did not fly out again until after we had purchased and completed the rehab. I did a post inspection with the contractor, but looking forward I do not feel the need to do that again now that the team is in place.
GREAT logistical question. This is where having a good team can save you so much headache on such a simple thing. My Property Management and contractor have been able to pick up keys from escrow on the properties, and place them in a lock-box at the property so that everyone on the team has access to the property.
James,
Do all your team members know each other or do they all work independently? I'm curious who your primary team member is and how you get the various team members to check on others work.
Post: Is BRRRR overhyped in the current market?
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @Jennifer Joseph:
@Ronnie Fielder Hi Ronnie. I am currently doing a portfolio loan. US Bank. No weirdness yet. I'm refinancing 7 SFRs.
Jennifer, it seems like you have it figured out. I would love to hear more as you go through your journey, because I would like to attempt the portfolio loan process in the future.
Post: Millennials aren't buying homes - good or bad?
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @Elbert D.:
buying homes?????Nahhhhh we dont do that. The thing to do is go to college and rack up debt. Not having a clue what we plan to do after we graduate. "We are going with the flow" In the meantime we are in college we are getting accustom to the "turn up" lifestyle gotta always go out every weekend and party right? This is afterall the thing to do in society right now...^__^ smoke and drink so much we arent able to function the next day. Then spend the next day sleeping/recovering from the night before.
Once we graduate we complain about the lack of jobs and how life sucks. In the meantime we are living with either family or friends or we are renting in one of the trendy areas of the city. ^__^ we have to always be in the know....ya know? Cant miss out on any event or concert that goes on.....
*end of sarcasm* sadly.....this is what most people do near my age.....
Elbert, you just fully described my sisters and cousins all still stuck in the "Chicago lifestyle." Some have never even left the city due to this lifestyle. It's sad, but all I can do is try to educate them on better ways of living; which they don't want to hear.
Post: Crazy Roller Coaster Ride Long Distance Cleveland Duplex
- Rental Property Investor
- Triangle, VA
- Posts 29
- Votes 18
Originally posted by @Kathy Argento:
@Justin Franklin Not too bad. As long as you have a great team in place, long distance flipping/investing is do-able.
Kathy, how did you establish the great team?