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All Forum Posts by: Stephen Keighery

Stephen Keighery has started 26 posts and replied 605 times.

Post: Profit soon to be realized on our first new construction!

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Nice Area, would love to see some photos when you are done with the build. 

Post: Profit soon to be realized on our first new construction!

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Sounds like a solid deal. What part of New Orleans is it in?

Post: How to find out who owns vacant property

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

There should be an assessor site for the county which has the tax details for the property including the legal owner and hopefully a mailing address.  You will need to skip trace them to get a phone number. 

In terms of offers, I like to find out what they would need to sell it and then see if I can make the numbers work. If they don't I will tell them where I need to be to make a deal. If the numbers don't work but we are close or there is motivation  just keep checking in every month or so to see where they are at. I get a lot of deals on the follow up.

Post: First Deal: Historic New Orleans Duplex Renovation

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Nice work Adam, house hacking is a great strategy. I am from NOLA so am curious where the duplex is exactly?

Post: Mentor needed , I’ve been studying wholesaling

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Get with local wholesaler who is doing volume and commit to JV'ing your first few deals with them. This way you don't have to worry about buyers and can just focus on finding deals and draw on your partner to check your numbers.

Post: Third Duplex - Cash Cow Investment!

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467
Originally posted by @Payton Pearson:
Originally posted by @Stephen Keighery:

Nice job @Payton Pearson. Will the numbers still work if you can't Airbnb it? In New Orleans they changed a lot of the laws and added restrictions on Airbnb and obviously Corona happened to tourism so wondering if it still works if something happens to your ability to Airbnb?

Yes, the numbers work very well even without Airbnb.  1700/month market rents total (850/unit) for a 783 mortgage, with around 200/month in utilities.  Counting all capex, maintenance, property management, etc., it will still cash flow very well.

Nice! Then you have a home run with multiple options. Keep stacking them up. 

Post: How can I buy a rental with less than $10,000?

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

@Eduardo Conde learn how to buy subject to the existing mortgage. This is a powerful strategy to build a rental portfolio.

Post: Looking for advice on how to meet wholesalers

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

@Lauren Larsen Google terms that house sellers would Google and you will find the good ones. You can also join local facebook groups and find plenty. Good luck.

Post: Third Duplex - Cash Cow Investment!

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Nice job @Payton Pearson. Will the numbers still work if you can't Airbnb it? In New Orleans they changed a lot of the laws and added restrictions on Airbnb and obviously Corona happened to tourism so wondering if it still works if something happens to your ability to Airbnb?

Post: Recipe for Wholesale Success (short and sweet)

Stephen Keighery
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 636
  • Votes 467

Nice work @Thomas Burnett. Don't listen to all the negativity in this thread. BP isn't very wholesale friendly and there are lots of agents who believe a realtor is the answer for everything. Go to your REIAs and hang out with investors and you will find that you are valued. Keep going and growing.