All Forum Posts by: David Lee

I purchased 2 from auction.com, a couple from sellers just wanting to be taken over by subject 2 from by word of mouth. The rest that I have been through MLS like @Dawn Anastasi .

I purchased a step van back in August. I love being able to keep my tools in the vehicle at all times and having room for anything else. I have had tools, vanities, 20sq of shingles all at the same time. It was not super expensive either. I bought it off of ebay for $4,500 with 72,000 miles. Here 

is a picture.

@Brian Gilstrap welcome to BP. It is good to see another investor from the Carolina's.be sure and listen to the podcast because there is a lot to learn from there. The best advice that I could give to you would be when you find investors in your area see what you can do for them. You need to offer them something in return of your learning the business. Maybe you could give them some kind of discount with your contracting experience. Maybe you could be a general contractor on one of there property's in return of them showing you the investor side of the business.

I think that a new investor can invest in low income areas. There are some things that you need to watch out for. Low income areas can be cash cows because you can get in to the usually pretty cheap and if you just use the extra cash flow to pay it down. One thing you need to be sure of that it's just a low income not a war zone. If it is a war zone you will have a hard time being able to rent it out or sell it which ever you are doing. Check out sub 30k property's in the search and you can see how some of the other BPers including myself buy some of these properties but remember because they are lower income they are usually harder to manage. Here is the link to sub 30k properties. http://www.biggerpockets.com/forums/61/topics/115738-sub-30k---property-pictures

@Matt Boettinger he told me to bring me all I found.

it has been a while since I updated how the rehab is going so I thought I would put a couple of pictures to show some of the progress that I have been making. Keep in mind everything has been done by us. 

I have been thinking of trying to wholesale some properties in the last month but I have not started any marketing yet. I am always talking to people and telling them that I am an investor full time. One of my friends had got the word of what I was doing and called me yesterday to tell me that he had a mobile home that he was trying to sale. It was a single wide and he began to tell me how he needed money bad. I knew that in my county you can only put a single wide in park now. He was wanting $4000.00 for it. After I went to look at it I told him that I couldn't do any more than $2,000.00. He said he would take $3,000.00 and I told him I could do $2,500.00 tomorrow. He said that he would sale it to me for that. I then called a local trailer park and sent some pictures over to him and he purchased for $3,500.00. I know that it was not a great deal of money but it is a good bit of money for no marketing and less than 15 minutes of talking on the phone and taking pictures.

@Derick Nesby it's good to see another investor from NC. I look forward to networking with you and reading about your sucess.