All Forum Posts by: Crystal Smith

As you network you will meet people that will become part of your team and some of those people will naturally become mentors. So continue to network and build your team: Realtors, legal, property managers, other investors,..... Guarantee some will rise to the task and be mentoring you, without it being called formal mentoring. Also guarantee you will end up mentoring others as you succeed.

Send us a PM.

@Quentin Hamilton Sounds like it's time for you to make an investment in your business to get accurate values.  Some options:

• Find an agent that will allow you to be an assistant. I don't know about Florida but some states allow agents to have assistants for a small fee. The assistant then has access to the MLS.
• Become an agent
• Find a company (like REI black book) that has access to the Core Logic sales database. Pay the fee & run your own comparables

Originally posted by @Jim B.:

 Just appraised right at $87,000.

In either instance, I would probably list it as a turn-key rental property for sale at $90,000-$100,000 and/or continue to rent it long term.

Your thoughts?  

I'd examine if properties are appreciating before assuming you can sell it for $90K to $100K.  

We saw that yesterday & recommended that the city put up a site that will publicly announce problem tenants.

Originally posted by @Shara Carlton:

 Maybe I can get an investor to pay the 30k cash to purchase the property, put the property in my name, and I get a loan on the property in order to pay the investor back?????

If you want an investor to put up $30K then you have to provide them w/ security in the property;  i.e. a Mortgage.  The investor will be your bank and you will have to pay them back w/ interest.   You should look for investor that want a good Return on their money & make them an offer.  

@Matt B. We may be able to help.

Curious if anyone on BP has any experience w/. Shipping Container Homes in large metropolitan areas like Chicago. 

Shipping Container Homes in Vogue  

Originally posted by @Wayne Tam:

Just came across this list of most dangerous cities in America: Forbes 10 Most Dangerous US Cities and to my surprise many of the top rental markets spoke of by the other members are on the list!  I've been reading on investing in Memphis and now I'm not sure if that's a good idea....can investors from these areas please chip in?

I'll comment on St. Louis, Baltimore, Cleveland & Atlanta.  We've invested or want to invest in all of these markets for buy & hold or flips.  We did it because we either lived there, spent a significant amount of time there or know/met someone on the ground that knew the politics and/or neighborhoods like the back of their hand.  There was a comment made about Ferguson MO in this thread.  Ferguson isn't part of these statistics & actually is a fantastic place to purchase property for cash flow.  We invested with some of the business people there including some of the city fathers.  

Baltimore- There's a renaissance coming in Baltimore.  Watch where John Hopkins is investing.  Baltimore reminds me parts of NYC a while back (Brooklyn).  Good housing stock, but lots of crime.  W/ a concerted effort the Mayor's took the city back (started w/ Giuliani).  We have a close friend working for the Mayor as a consultant for the next "renaissance"  Something to monitor closely.

Cleveland- We invested with friends working @ Case Western & Cleveland Clinic.  Local folks who had an inside track on what was happening.

Atlanta- Lived there for a while & just know the pockets.

Chicago- Living here now & this is said over & over again- On the south side & portions of the West it's a Block by Block city.  But even in those areas that people consider safe if you look @ a crime map it may show red.  As @Brie Schmidt said much of what's reported in Chicago is in a few areas.

@ Wayne Tam:  I wrote such a long reply to say:  Invest in getting to know some people, the politics & the neighborhoods of Memphis- Then invest in Memphis.   I bet the successful investor there know it like the back of their hand. 

The renovation numbers sound like your being taken for a ride by the GCs. Keep adding to your list of contractors for your next deal.