All Forum Posts by: Cory Lucas

@Marcus Auerbach he is a top producer, so that's a good point. Appreciate the feedback and info, finding someone on here is probably a pretty good idea. Thanks for the time 

@Bob Okenwa yeah I definitely don't want to be considered a tire kicker and don't think I am. I appreciate the insight and help 

We've been wanting to do STR for awhile now, down payment is of course the big factor keeping us from doing so at the moment. So, I'm curious as we're going to see if we have enough equity to help, which you all would recommend? Cash out refi, 2nd Mortgage, or a HELOC? I love the idea of a HELOC, but I'm thinking that might not be as adventitious as a Cash out refi or 2nd because of the likely high dollar amount that would be getting paid off when doing an STR.

And/or for those that are in the game other creative ways to finance the down payment? Things like seller financing or is there some other creative way to structure a deal to do so, like utilizing future rents somehow? 

Thanks in advance for the time and feedback 

I'm thinking on moving on from my current realtor and just calling the listing agents. For those that do this any recommendations or methods you follow when doing so? Or lessons you've learned?

I'm sure I'll be asked why, it's something I'm contemplating because I'm losing faith in my realtor. 2 of the past deals I've inquired on I feel I've been blown off. One was a duplex and I wanted to see if he could find out lease information, didn't hear back and the deal went pending, when I checked back in with him that's all I got was, "It's pending." 

The second one, I had put an offer in on a property and the last he and I talked they were going to counter and we were waiting to hear back from the city as the property was rundown and they were wanting either the foundation fixed or to possibly tear it down. Hadn't heard back, hadn't heard back, and that one went pending and sold. So I asked what happened and this was literally the response I received, "Not sure. I'm guessing they had a higher cash offer and took it." 

So I guess my question could be two fold, what else should I/could I have done there? I'm just getting the feeling that he doesn't have much interest in chasing the properties down that I'm looking at, which are BRRRR properties and not on the high end for purchase price. And I'm beginning to feel I'd have better luck on quickly looking at the properties by calling the listing agent. I'd much prefer to have someone in my corner, but I've missed out on some properties trying to work with a single realtor at this point

Thanks in advance for the time and feedback 

Welcome! Sounds like you have a great angle at getting the most difficult part of your Core 4 checked off by working at Lowes at the Pro Desk, that's a good in to have. Happy investing and best of luck 

@Javaras Thomas I try to do as much as I can. Why out of state and not close to home?

What are you looking for as far as good rule of thumb? How are you investing in BRRRR's out of state through pics?

I mean when I do a BRRRR I go in and photograph everything in a clockwise manner starting with the outside of the house and then go to the inside and do the same, so I have complete pics of the whole house and then I can go home and create a list of repairs needed. Looking for a tip like that? Sorry, question was kind of vague

Have you used the calculators on the site? 

@Trey Sutliff my initial thought would be stay with what you know when starting off and that would likely be your own market. That seems to be the usual advice I've read/heard. Not sure if that helps or not and it seems like you usually end up paying a premium for turnkey from my understanding as well

Thoughts on some off market advertising, I'm wanting to do something to further get my name out there and that I'm doing real estate investing to potentially find some off market deals, but I'm having trouble coming up with something slogan/pitch wise. Our business name is Coral Property Management, I just filed to do a DBA as Coral Properties, cause I felt the Management piece sounded too much like of course a Property Management company.

That being said, I'm primarily just wanting to do some new business cards and a Facebook campaign, but can't figure out a decent slogan/pitch. I've thought of all kinds of things, but the best I've come up with so far is, "Got a property to sell? Give us a yell." Corny? Yes, and I'm sure it doesn't matter, just get the name and objective out there, but I want something that people will remember and/or think of. So a slogan or maybe something catchy with the business name 

I've also thought of giving a referral bonus if we purchase a property that gets referred to us, thoughts on that? 

Thanks in advance for the time and feedback 

@Scott M. Good info, thanks for the feedback