All Forum Posts by: Thyra Dixon

@George Yu - @Matt Greer is a great guy! I met him in person when I was in Fayetteville meeting contractors and he was extremely helpful. I will definitely be working with him at the earliest opportunity!

I often search the BP Marketplace for properties. However, I think you have to be a Pro member to post. The Pro membership has been worth it to me for the Webinar replays and unlimited use of the calculators.

You may also want to attend some local REIAs (Real Estate Investment Associations) in you area or REI groups from MeetUp. Other than that, I'm sure you can find a wholesaler in the area who would be willing to market the properties for you for a fee.

Hope that helps and good luck!

Hi BP, I need help! 

To date, I've bought all my flips and rentals from either the MLS or a wholesaler. Recently, I've started marketing directly to homeowners. So being the wholesaler is new to me.

Well, I finally got a call from my marketing and met with my first distressed homeowner this morning. They are, of course, totally unrealistic in their expectations. Shocking, I know. 

Here's what they expected:

House is worth.   $185,000

Repairs needed.  $ 20,000

What they want for the house $165,000

Here's where I'm at:

ARV $176,000

Repairs $35,000

Holding Costs, Buying & Selling Closing Costs & Realtor Fees $20,000

Profit $ 25,000

MAO $96,000

And they owe $97,000.

I know I've heard Brandon and David talk about making three levels of offers to homeowners but I can't find one of the episodes to help me figure this out. I know the lowest offer is for straight cash which would be my $96,000. And I know one of the offers is if they do seller financing. I think this would be a good option because they are current with their mortgage and taxes. 

Does anyone know the third offer? And have any advice on how to structure an offer like this?

I'm thinking of offering cash for keys + assuming their mortgage payments + some cash at close.

Thoughts? Advice?

Thank you for any help!!

To be honest, I don't know the story of the property. I got it from a Tax Deed.

@Alexander Felice To be honest, I'm not quite sure what you're looking for. I am not a newbie asking for a mentor. I'm not looking for someone to hold my hand or do my research for me. I'm just a fellow investor looking for a referral. 

I would be happy to share my knowledge of the Phoenix market or any of my local contacts if those are of interest to you. I know Realtors, property managers, wholesalers, architects, contractors, laborers, attorneys, designers, suppliers, lenders, cash buyers, etc. They have helped me and provided excellent service as I've invested here in Phoenix and I would be honored to refer them and help them grow their business.

If you are uncomfortable sharing referrals, that is understandable. No worries.

@Alexander Felice I heard you on the BP Podcast and you were so inspirational! Thank you for sharing your knowledge and passion!

I'm in Phoenix but the market here has risen in pricing and is so competitive that I've been priced out of buy and holds here. I had a few other colleagues that had mentioned Fayetteville but your podcast was what convinced me to make this my first long distance market.

Would you mind sharing your property manager and contractor sources? I've recently purchased  a home similar to what you say you prefer. Here's a pic:

Again, thank you for sharing and inspiring me.

Hello BP community!

I just purchased my first property in Fayetteville, NC and it's going to be a huge project! Does anyone have experience with a General Contractor in the area that you would be willing to share? Considering the scope, I'd rather not just Google! Here's a pic of my starting point.

While I am remote, I will be in the area in early December to get the project started. Thanks for any referrals and wish me luck with my first long distance reno!

I'm seeing blue in so many flips here in the Phoenix market, especially in kitchen cabinets. I almost painted one of my flips navy but my contractor talked me out of it. I wish I had been bold and stuck to my guns! And Poolhouse is a nice, versatile shade. Post a picture when you're at your computer! I'd love to see it.

 Thanks to everyone for sharing their insight. I have a colleague who swears by Fayetteville as a great rental investment market and home prices are much more affordable than here in the Phoenix valley. It's definitely one of the markets I'm exploring for Remote Investing.