All Forum Posts by: Delon Hall

Have you all ever Flipped a property out of state/ virtually with a partner?

@Andrew Cordle Each event you host keeps getting bigger and better, count me in!!!

It really depends on what you plan to do with the money.  Maybe if you explain in just a little more detail, I would be able to give you better advise then"it depends."

What part of the Mid-west are you headed to?

1. Make sure to find out if the court appointed a exucutor. If so, it is only necessary to have the exucutor's signature.

2. Do they own it free and clear or do they still have a loan balance. Free and clear just confirm with the closing attorney that electronic signatures will suffice. if there is still a loan balance some banks don't accept electronic signatures.

3. Have it sent over night and confirm with signature to track when they got it and request that they have it notarized.

I would definitly recommend starting off with a partner. someone with a proven track record and that is currently doing deals.

I have partnered with many investors from out of state over the years. The biggest concern that i have noticed out of state investors have is their abiltity to handle an issue if/when they arise while being so far away. The easiet solution is to simply partner with another investor that is local inwhich your ideals align. when hiring the repossiblities out no one has your best interest at heart.

 I would first recommend that you continue to do what you are doing. Do as much networking online, get as many recommendations as possible, then if time permites come down for a visit and get a feel for the areas. 

There is oppurtunity just about everywhere here in Atlanta, it really just depends on price point. Theres new construction oppurtunity in Neighborhoods like Brookhaven, Buckhead, sandy springs, north druid hills. Additions and high end rehabs in Kirkwood, Edgewood, East Atlanta, Marietta, and North-esat Atlanta. in and out flips in Stone Mountain, Decatur, Kennasaw, ect...the list goes on.

There are definitly some questions you want to ask yourself before investing across state lines, but it is not impossible. PM me if you have any questions on how my current projects are going with my clients.

Let's just say you get what you pay for. 

If you just want to spend $50 slap a sign in the front yard and go For Sale By Owner

if you want access to the buyers through the MLS and you are only selling 1 or 2 houses a year go the flat fee route

if you need someone to answer the phone, meet with inspectors, show the property and don't want to deal with the 20 tire kickers  that come along with every listing get an agent that's willing to take a lower fee 

Now if you plan to buy/flip/rent 5 or more properties in a year,  get a reputable agent that understands real estate investing that is known for getting deals done. And they do exist, people will tell you which agent to stay away from but they won't tell you about the agent that keeps feeding them deals and was able to get them 15k over asking. 

A good agent is worth thier weight in gold just like an attorney. you just have to ask yourself how much of an agent do you want to be.

I gave a brief seminar on how the audio makers will affect the local economy. So in short,  being that these companies can only employ but so many employees and the median income will be at the trades mean level. This will only create a immediate demand in the rental market. With entry level homes already being hard to come by in the northern Atlanta suburbs, we are going to see more of an increase in cities like Marietta, Norcross,  and north of Alpharetta Sandy Springs and Driud Hills. Atlanta has a diverse enough economy to were we will not feel a more drastic shift than what we are already experiencing. 

It sounds like your just looking for some direction, hopefully my .02 will help. 

The great thing about real estate is that you can be very creative when it comes to financing. Traditional 100% is hard to come by but not IMPOSSIBLE. Either you could spend the next year trying to find the golden goose or create your own opportunity.

You have a few options. 1 find a partner to be your credit partner and take a percentage. 2 find the 20% through family and friends,  show them the power of investing and hope for the best, cash flow for a year and refi them out. 3 wholesale it use it as experience and use the cash in your next deal.