All Forum Posts by: Clint Shelley

What size unit (in tons) are they quoting and will the duct work be in the attic or under in a crawlspace? A 2.5 ton with 10 year warranty new duct in attic installed for my 1200 sq ft SFR is $4800. I'm in SE Alabama.

Clint

Convert it to HVAC and get rid of the window units. It'll save your tenants money on their electric bill (turnover) and you limit window sill rot issues. Window units are often stolen in sketchy neighborhoods, and are good places to gain entry. Unless you've lived here, a rain forest, or Hell, you cannot imagine how hot and humid it is in the summer. 

Clint

@Kristopher Russell  check with the local planning and zoning to see what is allowed or may be changed to. This is the first thing I look at when considering a piece of raw land. Good luck and let us know how it works out.

Clint

@Jaron Walling is right. Any deal of any type is a connection. Those are best made by talking. So practice talking to people about real estate. Find a good way to get a conversation about real estate with every person you come into contact with. Soon you'll feel comfortable and you'll sound confident. Think of it like your car:  you do not spend years learning how to tear down and rebuild your engine and transmission, do paint and body work, etc. until your ready to ride, drive, or buy  a car. You read up on the laws, you practice with mom and dad, then you take a test and get your license, in a relatively short time. Then, once you're driving, you actually learn. Real estate is the same way. Just do one deal, and you won't believe how easy the second one is. Over come your fear. Grab your future by the throat!

Clint

Hi All,

I just closed, today, on my 3rd deal. It was a raw land flip (15 acres) in Alabama. I found this property through surveying another portion of it, and always ask what land is trading for and is there any more of it available. I was able to get it under contract for 37K. I knew I could get the cash from my bank through a line of credit or mortgage, but I was hoping to partner with private money to improve my deal velocity. So, I opted to partner with someone on a 50/50 split to establish a future partnership. I've known this person for 9 years and knew I had to have a good deal, not for him, but to convince his wife. He's the bank, but she is the committee/underwriter. So after this partnership was established, we closed on the land in April. I had a promissory note recorded for my half of the 37k (no interest). This cost me 284 bucks. A week later, I called someone I know who was looking for more land in this area, and struck a deal to sell for 97500. Today, my partner got his initial 37 back, and he and I each got a check for 29,200. There was still some value left for the buyer, as I feel we were 1500 an acre below market, but this helped keep us from wasting a few weeks over a few thousand bucks. This land was off-market and only happened because I asked could I buy the rest of it. 

I have a 4th deal, a 3-2 SFR house that's hopefully going to close soon if they get a title issue resolved. I'll post details and pics of it then. My first deal was my primary that I turned into a rental that cashflows 285/month. My 2nd was a 2-1 SFR that I had to strip to the studs and remodel. It cashflows 250/month. I was a lurker for 5 years before I finally jumped in the water. Once you get one deal, the next ones will come at a faster clip. My 2nd deal took me a year to rehab, dealing with trade guys and such. I ended up doing some of it myself to learn and to have fun. My next rehab will go smoother I hope. Anyway, let me know if you have questions and I will answer. I hope this post helps to inspire and motivate others. None of this would have been possible without this community, it's creators, and the people who participate in it. Thanks for reading.

Clint

Pulling for the raptors? Definitely bad judgement! Kidding aside, I would explain why he needs to keep some separation between your business in this situation. This is a non issue if things don't go sideways, but as we know, things always seem to go sideways. Hopefully, nothing will come out of it. Good luck.

Clint

Hi Casey. I'm in Dothan and I use Ameris bank, but a few investors I know have been having success with PeoplesSouth. I am going to have a meeting with one of their VPs about my goals and how they may help. I like Ameris but they have been really slow of late, and I need a nimble lender. Thanks for your service.

Clint

Hard to say with the brief details given, but typically a public right of way abandonment isn't allowed to damage your property in this manner. Although, you may may have to sue DOT, to make them provide you permanent legal access through and across others. If they've abandoned, they shouldn't retain an easement unless it's for maintenance across the other guy, which wouldn't be usable by you. They may be planning a condemnation over your neighbor for your access. I would set up a meeting with the DOT right of way agent to voice your concerns and the blow back from party number 2 and see if they plans in the works to remedy your situation. If party 2 puts a gate, file an injunction for temporary relief. If you don't get an easy feeling from dot meeting, you'll need to file a suit on Dot and adjoiners between you and new public road. Can you draw a sketch for me to see the rough layout?

Clint 

If you have desirable land and you want to stay involved, I would research commercial and residential developers and have some meetings with them. You would be best at partnering, but you're in a good position since you have paid for land. Look to see what other successful developers have completed. Be careful since you're a newbie with land you'll get alot of wannabees wanting to partner.

Clint

What Wayne said first. Alternatively, you could offer to pay for an easement for the stair case from the neighbor. I cannot see how you were given a permit to build without a current survey. I spend lots of time locating structures built over the line. Easily preventable.

Clint