All Forum Posts by: Cale Ferguson

Never used Turbo Tax but I can't understate the benefit of a GOOD CPA.  They will keep you out of trouble and help you a ton.  Of course, make sure he/she is well versed in RE Investments before you decide to pull the trigger on one.  You can't know what you don't know and the good CPA will educate you on and advise you on those things.

Hey Ryan, just noticed your post.  I grew up in Columbus, Ms.  I still have family there and my dad is currently midway through a flip there in the area.  I am not super "in touch" with the market there as I live and do all of my business here in Columbia, SC.  Moved away from MS about 2 years ago but that place is still "home" for me.  Best of luck in your investing career and time with the USAF.

Steve B is right.  You need to begin a dialogue and relationship with some flippers in your area.  The main people you need to be speaking with are those that are active and in touch with your market.  Also, pick up some relevant reading material.  J Scott is a proven, experienced and successful investor.  His book--"the book on flipping houses" is a great resource.  Start previewing houses, meeting contractors, talking to investors, etc.. Make a plan for how you will get the first one done.. Your plans will change 5, 10, 50 times but its the only place to start.  Be patient, work, and it'll happen.  Good luck!

In my opinion it is an excellent funnel.  You are able to target the type of sellers that you want to market to.  These would be owners of vacant homes, equity owners, out of state, etc.  When you consider how many deals it will take to pay for direct marketing all year long, better yet to cover one mailing, it's pretty inexpensive.  Time is money and I would rather have targeted prospects contacting me so that I may expand and replicate other money making activity, in your case auctions or cold calling.  Spending the time it takes to get enough lead volume to produce a deal can be a pretty serious grind. 

In regards to your comment about number of contacts with a seller, yes evidence supports that most sales occur after several contacts, so yes it would be an ongoing expense.  The good news about this though is that if direct mail is being utilized in your city (it is), from your very first mailing you will be kind of "piggybacking" on others' mailings. 

Much appreciated! I will check it out.

Hello,

I am an investor and agent in the Columbia, SC area. I am an active rehabber w/ SFR also very interested in picking up some mobile homes for resale or rent to own. My question is - does anyone have suggestions or resources for learning material? podcasts, books, articles, youtube channels, etc...

Any help is greatly appreciated!!

@Russ Scheider nice to see you are having success with a realtor and finding good deals that aren't all (off market) properties.  Feel free to send me anything you get in the midlands area.

@Jason Dillard how pricey is radio advertising?

Thanks for the replies.

Anyone here doing fix and flips in South Carolina?  I am curious as to how others are coming by acquiring properties.  I have only bought from the MIE auctions so far but am wondering if others have had success with different avenues.  I hear Greenville is rocking right now, however I am in the midlands area.

Welcome to BP Krisi!

Really good thoughts by you guys.  Especially eluding to risk/reward.  You have to consider your risk tolerance.  If the deal went sour on you, where would it leave you?  If the answer is it would really hurt you, you would need to look for a better deal.  If you stood to make more money, well maybe you take a chance, but I would wager the guys who make a 20+ year career out of this are at all times aware of their risk tolerance and manage their business considering.