All Forum Posts by: Jason Mcdaniel

Count me in for sure if in Maryville or Knoxville.  I'd prefer after 4pm.  And I'd bring 2-4 people with me as well! Thanks Derek!

Thanks Justin!  That is a pretty efficient method but still a couple too many steps than I'm looking for.  I think for now I'm just going to use my whatsapp method I described above until I find an app that does exactly what I want it to do.

I've searched pretty hard on how to do something like that and can't find it.  And that is exactly what I would need is where it is something you could do on both because I use Android and my partner uses iPhone.  Although at this point I'd be willing to switch to iPhone if I needed to.  

I understand there are other apps that do something like this but with more steps and complications but I'm really trying to streamline this part of the business for me.  This is the part that falls into the 80% of the 80/20 rule.  I'm horrible at tracking things and being organized plus I hate doing it.  I want to write the address on the receipt, snap a pic, then forget about it.  The end.  

Thanks again to everyone for input!  I'll keep u posted with what I decide on.

Thanks for the response guys, I'll do some research into those now.  I don't really care about free but it just seems like I wouldn't have been the first person to have this problem.  An app definitely should exist where you open it, snap a pic, then close it and it automatically saves it to a cloud.  I've also thought about just starting a group chat in whatsapp with me and my partner.  So, every time that I need to document a receipt I just open up that group chat and take a pic that will be instantly shared with the group.  The only problem with this would be (I think) if my partner and I both lost our phones at around the same time.  

Hello all, 

I'm wondering if anyone can help me to find an app to simply take pictures of receipts that are then immediately uploaded to a cloud where I, my partner, or my accountant could access them.  What my fantasy is is that one day I will be able to as soon as I get a receipt write a corresponding address on it (I'm always doing 2 or more rehabs at a time), and then take a pic of it, and then throw it away and never think about it again!

One thing that complicates my situation is that I use different bank accounts, different, credit cards, checks sometimes, and cash sometimes to purchase/pay contractors.  I also shop at Lowe's, Home Depot, local salvage stores, Craigslist, and everywhere else.  

And yes, I do know that if I take a pic with my phone and it's set up to do so it will then go into my google (for me, icloud for iphone people).  This would work if I wanted to share every picture that I take with my phone with my partner and accountant, but I definitely don't.

Thanks!

Those look like very good numbers, especially just starting out.  And in a very promising neighborhood too!  Although I try to invest almost entirely based on cash flow it's obviously wise to consider likely appreciating areas as it seems you have.  Let me know if you find any decent deals in Knoxville that you don't want and I'll pay a finder's fee or if you're interested in partnering on a flip that'd be cool too. Especially if repair costs are similar($1,000-$4,000)!! 

I've been meaning to post on here for a long time because I honestly owe everything to BP.  

I had been flipping cars for about 5 years when I met a guy named Brandon West who told me about BP podcasts and how much they had helped him getting started.  Not only that but he called me every few weeks or so after we met to follow up with me and ask how the search for my first rental property was going and when I finally found a property he helped me run all the numbers with a BP calculator.

Anyways, after he first told me about BP I started listening to all the old podcasts (and new ones), then re-listening to them.  I started soaking it all in and learning tons but more importantly I began to get motivated to "just get started".  I realized that for my first deal it would need to be owner financing because I hadn't had a W2 job in years but I had some cash I could use as a down payment.  I made sure to run all the numbers with somebody and also had a contractor friend of mine look at the house inside and out for me.  It ended up cash flowing about $150 a month with 10k down which wasn't the kind of cash on cash I was used to but because of advice in the podcasts I knew getting started would require practicing some patience and humility. To sum it up it was the perfect deal for me.

The great thing about the podcasts is that there are so many different personalities and perspectives.   I was able to take all of what I thought the best usable tips were for my strengths and situation.

I've now decided that the best approach for me to continue moving forward as quickly as possible is to spend pretty much all my profit from flips and rentals on looking for off market deals with wholesale marketing methods.  I look at each deal individually and consider if I'd like to flip it, wholesale it, or keep it as a rental.  I've also recently put much more effort into networking with people in order to find multifamily properties and new partners on deals.  This has proven to be an excellent strategy to accelerate my real estate career.

The main point I'd like to get across to anyone reading that's just getting started or thinking about getting started is that it's really nothing too complicated.  All I did was what had already been done and proven.  Yes there were obstacles in my way and still  continue to be but in general I never got too creative.  I just listened to the podcasts and started taking action. Now I've completely quit flipping cars and am full-time investing in real estate.  I am much closer to achieving my long term goals and becoming financially free.  Thanks BiggerPockets!

So outside knoxville city limits but still in knox county? Or you're just looking for anything within a short drive (15-30 minutes?) to knoxville? Budget? Any clue how big of a house you'll be looking for?

According to my math that's $62,500 a door, right? And it's not a bad area but definitely not the best either. I'd say B- 

I grew up in Maryville and to be honest there really aren't any bad areas.  There's a few bad trailer parks I suppose but just in general Maryville has been a really well kept secret until recently.  That's actually where Jake and Gino (podcast 182) bought their first multifamily when they moved to Knoxville.  I currently have a rental in Eagleton village which is very middle class but booming and I grew up next to Maryville College which is another excellent area.  Sorry that I can't really give any more specific info but I'd say anyone from there would agree that there aren't any really bad neighborhoods in the whole city.  Only problem is that all the police there are always very bored so DO THE SPEED LIMIT! haha

Also if you'd like to know about any more specific area that you might be honing in on let me know and I'll do my best to help as much as I can! :)