All Forum Posts by: Cody Campbell

@Abbas H.

Try @Scott Meyers he has several programs and information guides to learn more. He is in an earlier post on this thread.

You will also have to sign as a a personal guarantor if the note.

I’m a fan of painting the home, but a bigger fan of curb appeal. Regardless of the color of the house it will still look plain with out landscaping. Use the cash for a good landscaper to increase the curb appeal.

This is from my experience and the 2 cents I️ can offer. LOOK AT EVERY UNIT!!! You may see the best and not realize that each unit needs (insert whatever you can think of), and could kill you cash flow for years. If I️ were you I️ would want to see each unit.

Call your local hardware stores, they generally have great recommendations.

Time to jump in!!!

Go into the house and make sure everything is off: washer, dishwasher, turn toilets off, turn off all valves to sinks, and any valve that allows water through it. Once you have done this watch the meter, there should be no movement. If you see the small dial turning slowly it means there is a trickle somewhere. If you have rechecked everything and ensured everything is off, and it still running, you have a leak from meter to house. Get under the house and see if there is any damp areas. If none, then you may have a leak underground.

It’s definitely real estate, and if dealing with tenants who don’t pay is a lot easier. I have invested in both residential and storage and there are pros and cons to each one. The best thing about storage is the ability to force equity higher by increasing to net operating income NOI. If you listen to the podcast you will find the biggest success stories in real estate are when people treat their investments as a business. This does not mean you work 9-5, but you put systems in place to make things run like a business. Whether it’s SFH, MFH, or storage the more you treat it as a business the more successful you will become. We have 13 single family units that I personably manage and then we have 5 storage facilities in both Kentucky and Tennessee that we have 2 employs running all 5 from a single location. That is my next point, you can have storage facilities that have an employee and ones that do not require an employee. There are systems out there that allow you to run your facility from another state, and if run efficiently can be a huge success.

What you get out of your Real Estate license is what you will put into it. Just because you have your license doesn't mean the deals will come and doesn't mean you will earn enough commissions to support yourself. BUT, its like anything in life...if you go at it whole-heartedly I believe you will be able to make enough to support yourself and then some. 

I know several agents that cut hair and also have their license...they are poor agents and I would not work with them again. Why? because they don't seem to take their job serious and it shows. 

Thats my 2 cents...I did not get my license, I have found an agent that works well for me and I am glad to pay them the commission they earn with properties I buy or sell. 

Good luck Mrs. Adreanna

Buying in cash does expedite things, I have purchased several properties with cash, no home inspection (you need some clue at what your looking at and what the property needs), no appraisal (only the banks require appraisals), and closing  within 10 days. 

This can motivate the seller to sell quick and at a lower price. 

The moment I closed on the property I turned to a local bank and told them I want to Refi the property, on paper you own the property outright. The bank orders an appraisal (you are hoping it appraises for higher than you bought so you can pull your money back out and then some to rehab) and you can instantly refi or you can negotiate a construction loan (interest only) for the property and they will appraise the property as you have already done the upgrades/rehab to it. 

I love this method and has worked for me here in Kentucky and Tennessee.

Feel free to contact me for more info.