All Forum Posts by: Heath Ryans

@Cirilo Villar google "cost to build a billboard" first and see if that still makes it worth it. Then the land has to be right on a very high traffic road before anyone is going to pay to advertise on it. Finally, I would contact the local permit office to see if they will even allow you to construct one.

If all that works out and it won't cost too much to build, it could be a good play. I have no idea what the going rate of a billboard is so you would have to do some research.

@Mark Leclair Alright. That was the answer I was looking for. Yeah, for that price you might as well go ahead and get everything set up correctly with an attorney. I'm assuming there will be some custom language in your documents. I'd go that route. I would say it's likely far cheaper to do it right the first time.

@Mark Leclair what's your purpose in creating an LLC to start out?

@William Durel I use Stessa. It's free and you can link all your accounts associated with the property so you don't miss anything. You can categorize everything, generate reports, upload receipts, ect. Works well enough for me.

@Trinh Lam get a real manager if your not going to do it yourself. I promise you that 25% of your income for letting him stay for free and barely do anything is NOT the same as 10% of your income for a professional property manager who does everything.

@Filipe Vaz listen to the biggerpockets podcast. I'm pretty sure the most recent guest is in that space. Search "mobile home parks" in the search tab and filter to podcast. There's a couple other guests who operate them.

@Pascual Torres an 'investor friendly' contractor is 

1) someone who doesn't know the value of their own time in relation to the quality of their work.

2) OR they could be someone who believes the stability and continuity between jobs that we can provide is better for them than making bigger profits on more random, seasonal jobs.

@Anthony Brancato

I'm not a flipper, however, I did just finish Episode #336 of the BP podcast like two days ago. The guest, Robert Jones, talked about this exact topic.

His points were

1) Extra disclosures and hoops to jump through when dealing with sellers

2) There are big annual fees for holding your license

3) your still splitting the deal with your broker

4) If your trying to focus on flipping, you'll probably fall short on the selling or the other way around

@Cynthia Bankston Thanks for reaching out. We have the area rep for Auction.com come to most of our meetings. We've had her speak before but this will be our first mock auction.

@Mitch Roedel We've not set up anything like this yet. There's been requests for the meetings to be recorded, but we havn't found a good way to go about it, yet. I will keep you posted if anything changes between now and then.

This month, the Tri-Cities REI Group will host experts from Auction.com. They will walk us through the ins and outs of buying foreclosure and bank owned properties listed on their website. Afterwords, we will have a mock auction as an example. This will be a fantastic learning opportunity for anyone interested in buying auction properties both online and at the courthouse.

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