All Forum Posts by: Victoria Woodley

@Greg Baca hey Greg! We had the same

Problem, I was 22 finishing up college and my and my fiancé had a baby on the way!

We found an owner finance that they were going to just let go. They had divorced and were just going to let it foreclose. We caught up the mortgage and paid the recording fees and were in a home! Then we fixed it up while living there and turned around and sold it. I’d say you have to get SUPER creative but you can make it work! We were looking at doing the same with multi family apartments as well!

We were in the same boat as far as job time! He was a realtor for less than two years and I was in insurance...both 1099 and no hopes for a loan!

@Mark Bommarito hi! Look into prattville AL! We have super cheap homes in AL and with that price range Prattville would be a good start. Montgomery has REALLY cheap properties but it’s higher crime.

My team is finally breaking into wholeselling, and helping connect investors with off market properties.

We have a great list of buyers going, but I’m having trouble organizing our contacts.

I want to organize everyone based on what kind of property they are looking for I.e. fix and flip, buy and hold etc., also maybe by their comfortable price ranges, and definitely what area they’re looking in!

Any tips would be much appreciated!

Michael, Thank you so much for your advice! We have to do some more digging on the property, but I think it’s a good start as well. Thank you for the encouragement, it definitely feels like too big of a project for our first one, but as you pointed out if the deal is good enough vacancies and setbacks shouldn’t sink us.

My husband and I have no shortage of deals we have found in our market. Our problem is finding ones we are able to finance. We have become extremely creative, and have narrowed our search down to a triplex fixer upper that we would house hack. The problem is it seems a bigger beast than we have the initial money for. We would probably be able to finance the initial purchase, but would need to have the two units we are not living in cash flowing ASAP. As far as we can see it will need LBP remediation (in Alabama you can seal it and paint over it) so probably $6k in total for both units to be rented, and an air system in place. Ductless will be about $8k for both units. Everything else we could and would do ourselves (floors need tlc along with some deep cleaning). My question is, would anyone be interested in potentially backing the renovations? We would exhaust a majority of our loan initially obtaining the property with probably only about $5k left for renovations depending on how negotiations go. The two units should cash flow at about $650-$700 a piece. Also, if you’re looking for deals in Alabama feel free to reach out.

My husband and I have no shortage of deals we have found in our market. Our problem is finding ones we are able to finance. We have become extremely creative, and have narrowed our search down to a triplex fixer upper that we would house hack. The problem is it seems a bigger beast than we have the initial money for. We would probably be able to finance the initial purchase, but would need to have the two units we are not living in cash flowing ASAP. As far as we can see it will need LBP remediation (in Alabama you can seal it and paint over it) so probably $6k in total for both units to be rented, and an air system in place. Ductless will be about $8k for both units. Everything else we could and would do ourselves (floors need tlc along with some deep cleaning). My question is, would anyone be interested in potentially backing the renovations? We would exhaust a majority of our loan initially obtaining the property with probably only about $5k left for renovations depending on how negotiations go. The two units should cash flow at about $650-$700 a piece. Also, if you’re looking for deals in Alabama feel free to reach out.

Mindi, I would honestly hold off on making a purchase like that until you get your feet under you. It can take some agents 6 months to have their first closing. I don’t know your circumstances and market, but it’s usually best not to add more bills until you know for a fact real estate is going to work for you. I LOVE that you have a good nest egg to cover bills because that’s a lot of new agents first mistake when transitioning into 1099 so you’re on the right track to success! My dad has been an agent/broker for 17 years and when he started out his car was nothing fancy, but people appreciated hard work, dedication, and his ability to negotiate one heck of a deal. When I was an agent I drove an old beat up PT cruiser and it didn’t deter people. My husband is an agent as well and when he started out his car was an old beat up white car. He’s a HUGE advocate for “dressing/showing up for the job you want/clients you want, but he even had to hold off on the new car. He worked his warm market who understood he’s starting a new career, and when he got busier with other clients outside of that he bought a Lexus. Both my dad and husband have had a Lexus as agents and they’re great! Good gas mileage, luxury but you can get one pretty cheap used, and they run FOREVER. My dad had his 10 years before he had any major problems. Good luck on your new career! Perseverance is key!

Congratulations on the first successful BRRRRR!!! I’m curious, did you put a traditional HVAC unit in? My husband and I are still in the looking stage that you were in a few months ago, but are on the cusp of buying our first BRRRR and have played with the idea of putting a ductless system in (we live in Alabama) because majority of the homes we are looking at don’t currently have an HVAC or the HVAC needs to be replaced.

Jakob, I look forward to seeing you there! SUPER excited to network!