All Forum Posts by: Clayton Mobley

Hi @Jeremy Goldizen, this is such a very good question. I would say that you never stop being a newbie, I have been doing this for years, but I will never stop being a newbie. Things change so much and if you are someone who loves to learn new things and incorporate them, then you never stop being a newbie. That's just my thought about myself.

Thanks for the great question!

Hello there @Ryan Allison, these are good markets. I wanted to recommend Huntsville and Birmingham Alabama. I am very knowledgable in this market. The Huntsville/Birmingham market is flourishing because of the job growth and the modernization of the city centre. Just wanted to give you another recommendation.

Best of luck on you journey!

@Ivan Yu I'm glad the article was helpful!

Good luck!

Hello @Laura P. and welcome to BP! One great thing you'll find with BP is that it is chock full of great articles, here's an article titled The New Landlord Checklist:

https://www.biggerpockets.com/blog/2010-10-06-the-new-landlord-checklist

Best of luck!

Hi @Ivan Yu, I understand what you mean. Instead of giving you a drawn out explanation, I thought I should give you some great articles that I think will help you out. 

https://www.biggerpockets.com/blog/telltale-signs-youre-not-ready-to-invest

https://www.biggerpockets.com/blog/persuasive-arguments-buying-rental-property

Best of luck to you! Can't wait to hear about your first deal!

I agree with @Tom Ott and @Chris Clothier, I don't think this is truly a turnkey. As Chris said, the term is overused a lot. Some companies advertise a property as turnkey meaning that it is "ready to move in". A true turnkey does all of the work on their time and dime. The turnkey company has
networks and systems in place to find the best properties and rehab to a high standard and
quality. This also means that you won’t have to worry about vacancy risk during the rehab
process.

Closing happens after the rehab is finished and inspections are passed, this means that you won’t have any risk during the rehab stage. The turnkey company benefits from the spread between what they put into the property and the market price they sell to you. The price you purchase the property at should be market price, a reputable turnkey company won’t inflate their values and third-party appraisals should back up the prices. 

Best of luck

@Scott Hawley this is an awesome post, especially for new investors. Many new investors ask how do I start my REI journey, your blog posts may help new investors get an idea of where to start.

Best of luck!

HI @Matt Allen, @Tom Ott gave you three great Midwest cities to look at, I just wanted to add in Milwaukee as a choice, as well. Are you only looking at investing in the Midwest? 

Best of luck!

This was a very good investment @Gorden Lopes! The lessons you learned will come in handy for you with your future investments and it will also be in the back of any new investor's minds who read this. Thanks for sharing your story.

Best of luck!

Welcome to BP @Copeland Duhon, I understand your apprehension with private lending. You are on the right track with familial lending, this is a great option if you don't want a traditional mortgage. As @Andrew Syrios said, you can also partner with a family member or friend, here's an article that can help you choose that partner, if that is something you choose to do: 

https://www.biggerpockets.com/blog/good-idea-partner-friend

Nevertheless, don't take private lending off of the table, leave it as an option if you don't get enough capital from your friends and family.

Best of luck.