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All Forum Posts by: James Montaney

James Montaney has started 0 posts and replied 3 times.

That's exactly how it will work if all the stars align perfectly and your credit is top tier. Experience has shown that it is a rare situation where the hard numbers, the underwriting, and the projected income stream support that added cash distribution to self in this market. My experience says less than 20% of the time.  

I haven't got a lot of experience in TN but it has been a great real estate arena for several years. We have bid and bought in Nashville for a few years now. I would think the basics would be similar in all TN markets. Our best opportunities have come through foreclosure and foreclosure auctions, pre-foreclosure records, community networks and referrals. We don't do mailings or blind solicitations. However, another popular method is to buy a list or do your own research and develop your own intel. Take that list and reach out to targeted groups with mailings, emails, or phone calls. That effort can generate good leads, and if you have the right skill set, it can lead to solid results. For instance you can purchase or create a list of local divorce, death, unemployment records, property tax defaults, repo records, etc. Many homeowners or heirs in these situations are looking for or need a quick clean exit without the hassles, headaches and uncertainties of traditional marketing. I have met investors that consider this method better than ours. A lot depends on your unique skillset and bandwidth.  All the best.   

Good evening SL, I would strongly advise/recommend starting with one or maybe two flips before you even consider taking on 10. I've been doing flips and BRRRR for decades and have never done 10 in a year. The band width it takes to carry even a few properties over the finish line is significant and the burn rate on your money quickly grows quite painful. I suggest you vet your entire team with one or two projects. Get those sold and evaluate the results and your team. Make adjustments and pick up a couple more. Software, spreadsheets, and marketing are the least essential and least demanding aspects of house flipping. All the best.