All Forum Posts by: Jesse LeBlanc

For my questions below, imagine a vacant house of 4 years with roof damage (so expect drywall damage, mold etc) Wholesalers - If you have a house gutted and down to the studs and bones, are your investors more hesitant or less hesitant to buy than if the walls were up and debris scattered around? Investors - Are you more, or less likely to buy the property if all you see are studs and subfloor vs existing dirty carpet, damaged drywall and old furniture etc. Do you immediately think the cost of repairs will be more, or less if all you see are studs? Do you feel this depends on the experience level of the investors? I don't believe this will make a difference, but I'm in the Atlanta area. (Snag a few people with the Keyword 😉)

@Joe Fulton - Welcome!   Now is the time to start, I wouldn't wait 5-7 years.  You'll wish you hadn't waited...

Best of luck sir.

@Michaela G. - Yes, everyone is busy.  Right now the market is going crazy around here as you know.  That being said, so are my flips which means I better plan ahead!  Luckly I primarily need someone for my own residence right now and it's not an emergency.  

Good Evening friends!  I did a quick search before posting this, but I'd like an update.  

Who has an Investor friendly HVAC contractor they are willing to share?  I love my main guy, but let's face it, we all get busy sometimes and forget to respond.  That being said, I need a good backup.

The tenants living in my basement apartment right now will appreciate this info as I've got to make a phone call to an HVAC contractor ASAP. :)

Thank you everyone.

@Kenneth Hayes - BTW, I'm sure you are already doing so, but READ READ READ.  Put some goals on a board that you both see some where at your house.  Start out with a long term goal, say 3-5 years.  Then some yearly goals that you'll need in order to reach the long term goal.  Work your way back down to, at minimum, a goal for the end of this month to reach your other goals for the year.  

I've found in doing so, I've reached every goal in advance that I wrote down. With the exception of a HELOC, that was 3 days later and I wasn't happy at all. :)

Do a quick search on here for books, you'll see MANY of the same titles popping up from post.  I'd suggesting finding them online free, or purchase.  I personally enjoyed clicking the purchase button on Amazon Prime and giddy like a school girl when its delivered to my house.  One of my goals are 2 books per month I read.  I long for a huge library in my loft upstairs.  It's nice to lend to a friend or use as a solid reference.  

BUT BEWARE, Lookup "Paralysis by Analysis".  Be prepared for this, and by that I mean do your best NOT to let that happen to you.  It happened to me and delayed my career by 3-4 months which could have been 2 deals for me at the time.  

@Kenneth Hayes - Pro is good if you're planning on posting deals on the Market Place.  It's also good if you plan to e-mail multiple colleagues at once.  You can also go back and search your e-mails with Pro.  I feel (and I could be wrong), Pro is geared more towards wholesalers or investors selling their deals. I believe you can also put your signature at the bottom of your post, which then potentially generates leads, at minimum makes it easier for others to see how to contact you or your website. 

If this was your only avenue for finding deals from others, the perhaps having the SMS notification might be nice.  That however goes to your e-mail anyway and you get setup an alert, which you would then jump on that deal right away anyway.  

I am currently not trying to get anyone to my website, nor do I use this as my only avenue to find deals.  I use this to find information.  I can still search post, chime in where I can, and follow up with persons I see post.  I'll make some personal contacts from there if I feel they may help me down the road and vice versa.  From there I may give some quality wholesalers my contact information but I usually watch people closely so not to have people wasting my time with worthless deals.  As a plus member you can still access files if you need them.  Post on the Marketplace once in a while if need be.  I suggest at minimum a Plus membership.  Check out the files you can download.  Continue being active on here and then as you grow make the decision if Pro is necessary.   

Again the above was my view, because that's how I utilize Plus.  As I grow and soon adopt another website, I'll likely upgrade.

Best of luck sir.  I've seen some of your other post.  keep up the good work

@Lee Winterboer - do a quick search on here. You'll find a ton of local wholesalers. Also as you figured, attend some REI meetings. Give your elevator speech and make some contacts. Best of luck sir.

Never too early or late for a mentor. Education is key to this career. No need to reinvent the wheel when you can get someone to guide you. Best of luck sir. There are a lot of good people here. Until then, drive/walk for dollars. Start knocking on some doors, put up signs, make phone calls and then more phone calls! Go to local Real Estate groups and get your name out there, start meeting others

Don't we all! I suggest you also do a quick search "Atlanta contractor" or similar on here to see older post that might get you some good leads as well.

Good evening sir.  Welcome BTW

One of my Lenders that I love is LendingOne.  There are so many options out there.  Each lender might have different criteria and can offer one investor a better deal than another based on the supporting documents and history an investor has.   You should get multiple responses on here but I also suggest doing a quick search for "Hard Money Lender" or something similar to see other post people have mentioned lenders in.  

You will definitely get a better rate from a conventional loan or credit union if you qualify. Another option (if you can) is a HELOC. I'm not 100% sure i'd say the options you mentioned below are "better" for a first time investor. They certainly have their pros, primarily lower rates and fees. I've seen many first time lenders use their own money or family/friends money and bought for far too much or overspent on the rehab. A Hard Money Lender would have been good for that person because they have money in that house, so they will do their due diligence as well. If the numbers are too close for them or you have to pay far more than you expected just to close on the house, it would be safe to say that's a bad deal and you need to keep looking.

Jesse