All Forum Posts by: Bryant Troupe

Looking for someone in Ohio that could help draft a seller finance agreement?  It would be our first seller finance deal and I'm looking for someone that could also help us better understand the process, risks, rewards, and pitfalls.  I'm guessing this would be a real estate attorney but looking for details, advice, and contacts.

I'm looking for 1 ticket.

I am also looking for a solution where I can create and share a repair list and define a scope of work.

Thank you for your feedback and for providing some details about your experience.  It's clear from multiple posts that the customer service is very poor which can lead to big problems if something goes wrong.

The concept of a combined credit card and equity line sounds like an amazing idea but I'll have to wait until some other competing company with better customer service comes along.

We are in escrow in a SFR in Lafayette, Indiana. We are looking to do a pretty significant rehab / remodel. We want to get some feedback on our ideas and get a plan drawn. Looking for tips on who to hire for this task and even some specific referrals if anyone knows someone in the area.

I initially tried to post this in the events forums but it required me to enter all this specific information (place, date, time, and location) about the event.  I don't actually have an event but am trying to find out who would be interested in networking from this area.  Is there a proper forum for me to inquire from other members about their interest in forming a local group?  I'm really trying to use BP to network and meet other investors that have similar goals.

The was a local MeetUp in my area (Rocklin, CA) pre-Covid.  It hasn't resumed in-person meetings yet.  I just did a quick search on MeetUp and it looks like many groups are still meeting online.

I've made a post about starting a local MeetUp.  Let me know if you're interested.

https://www.biggerpockets.com/...

I'm very interested in networking with other investors in Northern California.  I'm looking into the feasibility of starting a new MeetUp.  There is a small investment to start a group using MeetUp and I want to make sure there would be enough interest. Ideally, I'd like to get members that would be open to a mixture of meetings. To start we could meet monthly online with occasional in-person meetings.

I've drafted an initial purpose of the group:

Network with other real estate investors that invest in out-of-area or out-of-state residential properties. This group is for investors focusing on 1 - 4 units rather than large multi-family properties. Let's talk about the various strategies such as long-term rentals, short-term rentals, BRRRR, and how to find opportunities. We welcome investors, investor-friendly real estate agents, lenders, wholesalers, investor-friendly contractors, and others in the real estate industry. While this group is born from the BiggerPockets real estate community, we welcome investors on other platforms such as Connected Investors, etc. Initially, we will meet virtually but would like to plan periodic in-person meetings. In-person meetings may include happy hours, group training, and maybe even a mastermind group.

Let me know if you'd be interested in joining.  If you are interested in helping run and manage the group, be sure to let me know.  Send me a Connection request.

Make sure you determine your goals.  That will be helpful in determining what you are looking for.  Decide exactly what you are looking for so you can share that with your candidates.  Make sure your goals are in alignment with their business model.  For example, investors strictly looking for cash flow may not maintain the property at the same level as a long-term buy-and-hold investor hoping for some appreciation.

Build a team you can trust.  Trust is built over time so it's very important to verify all information you are told from multiple sources.  Also, make sure you know the difference between an opinion and fact.  You do need both to make a good decision but data can be confirmed whereas you need multiple opinions and then come to your own conclusion when it comes to opinions.  Be wary of opinions that have no basis from fact.

We started our out-of-state investing journey by finding a property manager.  We developed a list of questions like suggested above and interviewed multiple property managers.  Understanding their background and the services they offer is really important.  This allowed us to be clear on what the property manager could do and what other team members I needed to add.  I'm very thankful that a PM is in alignment with the quality of tenants we are looking for.

Next, start building your team in the local market (Realtor, Property Manager, Inspector, Lender, Contractor, etc).  Get recommendations from other team members but make sure you are the one hiring them (don't just use everyone your agent or PM recommend).  By hiring independent people, they are more likely to bring problems they see to you directly.  For example, if you establish a relationship with a home inspector, maybe you could hire them for a small fee to inspect the work done by your contractor.  A property manager or realtor will sometimes check work done by a contractor but they aren't contractors so don't know what to look for.  A home inspector's job is to check the condition and quality of construction.  And always have a backup contact on speed dial.  With contractors get multiple bids and find out their availability.

Those are some of my thoughts.

Victor,

I'm an investor located in the Sacramento area and we are investing in out-of-state properties.  We close on our first property last year and we are looking for our second property now.  I enjoy networking and sharing experiences.  I'll send you a connection request.