All Forum Posts by: Lisa Phillips

@Jon Lafferty Yep, in a nutshell! Not so crazy to make bigger returns in buying these neighborhoods, is it?

@Eric Johnson I use Cbrowne, they are okay because they have a pretty good contract with an escape clauses and beneficial to the owner.I am big "the contract says this, so..." it works for me when they arent doing things right. It helps to send the staff christmas cards with starbucks giftcards in it. I heard the Premier Property Management is much better. If I ever left,

@Nicole A. someone understands! :-)

@Christina R -I always want to hear a good tenant story.

@Jason Roberts Personally, I travel 45 min in one direction for one group of properties, and 1.5 hrs in the other direction. Is it worth the drive? Yes, because I dont need to drive anywhere to have my property manager drop checks off at the bank.

So, yeah, you can look outside your area.

Now, I love that they are a "watch dog" that can bring lawsuits. I like that they aren't a regulatory force, meaning they can't impose regulation but they can impose audits. I am usually less government, but in my own self interest, I do like this commission.

I have had dealings with them, and they really make the credit card companies toe the line. The fact that they are going after Sallie Mae's predatory collection practices is a nice touch. (tactics that dept of education new about and still renewed their contracts, no questions asked). Just my two cents.

I have mentees personally VERY successful in finding great properties using my Leveraged Analysis Technique (part of my mentorship program). I am patiently waiting for their testimonials after their first real estate investment purchase. However, they just started, and real estate investing isnt a quick game. I have had many people send me emails through this method, so I know its working for a lot of people all over the country.

However, this technique does not mean you find these pockets right outside your doorstep. I drive 45 min to 1.5hr for these areas living in the DC area, there are no magic bean stalks (and please do not misinterpret anything I have written to think there are any magic, or get rich quick, solutions). And, if there were none in that price range, that just means you have to invest in another state. If I didnt have any within 2 hrs, I would drive 4.

I just did a VERY quick search and found this ~40 min away:

http://www.realtor.com/realestateandhomes-detail/209-W-1St-St_Emmett_ID_83617_M10910-58861?row=2

Something like that? The basement would need work, but nothing that you dont see in any other older home. If that's what you're thinking of, you just have to spread yourself to other cities. You don't find these homes everywhere, you have to travel 40 min out of town, or sometimes choose another city entirely. If you want, you can email me your questions. [email protected]

Great advice all around. If you're hungry, you're going to do just fine here :-)

@Au Dang Ton of deals in both areas!

@David Young Check out the blogs for how to find a mentor. You can try to find one for free, or there are a lot of mentors on this blog that have courses and mentorship programs that are paid. I pay for mentorship, but usually if the person has a good online presence where I can see all of their items before seeing if they can guide. That's why I really appreciate BP and real estate blogs in general, nowadays :-) You can shop around for a good fit for your strategy, from apartment complexes, inner-city investing, creative financing, and sub30k properties.

@Account Closed Nice!

@Douglas: High Crime is no good. I will do low income, but I have to be safe. Drugs, Prostitution, and Assaults are my no fly zones. I can take theft, because thats everywhere.

Quality tenants aren't really going to stay in areas with high crimes, because they have options. So, I would find another location where you can find lower crime areas.

@James Ross I definitely have to say that I am more on my game when it comes to this price range.I expected grief, so I came prepared. That just makes you a better landlord/negotiator/property manager.

When you KNOW you will have your work cut out for you, you come in a little tougher, a little stronger, but that just makes your game that much more tight!

Now, I am fully confident on my tenant screening abilities, renovating, and all around rental business. But, you only really get that level of toughness from going where no one else has gone before, and deciding no matter what you're going to make it.

@Bobby Beard Nice! Thanks for the shout out.

Hey, check spotcrime.com, put in the zipcode, and see if you're comfortable. I always tell people that its block to block, and crime .25 miles away is actually quite far. Theft and burglary are things I see in my super expensive area of northern, va, so that is not a huge deterrent, but you should be able to make it work.

I actually did the search for you-Its a stable neighborhood in some parts, other parts maybe not so much. Now, You have to put specific addresses you see in the mls and see block by block which neighborhoods are desirable, and which arent:

http://spotcrime.com/#30034

Hope this helps! And, if you want to see how I do my leveraged analysis technique step by step, you can check this out:

Leveraged Analysis Technique

Lisa