All Forum Posts by: Jesse LeBlanc

Great job! Perhaps stage it and don't use fish eye photos. How did your other 3 projects go for you sir?

Speaking on behalf of my old business partner... He lives in Spain but flips houses in Georgia. His LLC was in GA. Attorney and CPA in GA. It's nice to have someone local to the market you're buying property in. Even better if they also invest.

I use Maxguard Pest Management and also Active X on a few projects. Emerson Jackson owns Maxguard, I've used him since 2011. I believe Active X is a little cheaper but much larger company.

I'm not sure which event you're attending, however, it's likely going to end exactly how you think! What is the name of this event? Someone else here might have been before and can give you better feedback.

Agree with Jason Green and I too use the same lender currently. You may want to look into a HELOC or partner with someone who might be in a better position to get a conventional loan for this rental.

@Dmitriy Fomichenko - Majority of the deals I did with my partner was in DeKalb GA. One (the epic failure) was in Snellville Ga. My expertise was project management running the subs. His position was finding the deals, running the analysis and handling the finance side. Unfortunately I was SO GREEN on the financial side so I trusted him and vice versa. However, he was more outspoken than I was and always assumed work could be done cheaper than reality (he lives in Spain). So little did I know until many deals have gone by that he always over estimated the ARV and under estimated that rehab cost!

This put a lot of stress on me managing the projects but I learned more than I ever thought I would in one year.  All that to say, we made a profit on every house but not enough worth the time I put into each project.  I believe they averaged around 15k each.  Hence why I decided to start studying his side of the business and venture off on my own.  Now, I realized how easy it is to analyze and find deals.  I've since stepped away from managing the project giving me time to find more deals and study study study.  I'm far more conservative in my asking price and not afraid to walk away from any seller if the number isn't right for me.  I refuse to allow the mistakes of my past to happen again. :)

Do you have a couple books that you have found helpful in your career?  Be it Real Estate, business or self help.  I'd like to add another to my Amazon cart.

@Scott Harper - My current project is in College Park GA, on the west side of Atlanta.  I actually was taking a few months off to get away from my old partner and go through my Paralysis of Analysis period from November-March.  I merely posted an ad on Craigslist stating I was an Investor taking a few months off but wanted to keep my crew busy with some handyman work.  I received an e-mail from a homeowner who just foreclosed on his owner finance buyers.  He simply said "I have a house for you".  Although I was still taking time of an in Germany at the time, I couldn't pass up a deal that lands in my lap!

March 22, 2016 I closed on this house. It will be listed next week. Purchased for 72K, rehab cost of 22K. Conservative ARV of $130, Appraisal came in with $135 before a neighbor sold one last week for 142K. Looking at 20-25K profit.

@Patrice Durham - I would however find out if it's an investor.  Make a good contact and follow up with that house and the contractors.  I don't know how many times I've been driving for dollars and meet local investors, good and BAD contractors.  You may find yourself a new GC or if you prefer to manage the project from start to finish may find some better subs this way.  

Don't give up, I know you have to drive to succeed! However, don't let that excitement get you into a bad deal. So many new investors will jump into the first thing they see rushing the deal...DO YOUR RESEARCH! My old partner last year got us into a HORRIBLE deal just because he was rushing. He was handling the research side of ARV while I was the project manager. He did his part, I did mine and neither were smart enough to question each other. Long story short, we lost over 80K. Don't trust just anyone, do your research. Deals will always be out there but you can only have but so many oopsies in this business.

Be sure to always learn from your mistakes and be humble.  Best of luck friend.

@Chinmay Goswami - I've used American Home Shield just as Mr. Fox and have had no issues, I've also used Choice Home Warranty for one of my last houses that sold for 135k The cost of the plan was $561 with a $60 service call fee.

Includes: Clothes Dryer, Clothes Washer, Refrigerator, Air
Conditioning System, Heating System, Water Heater, Electrical
System, Plumbing System, Plumbing Stoppage, Built-In
Microwave, Oven/Range, Stove, Cooktop, Dishwasher,
Garbage Disposal, Ceiling & Exhaust Fans, Ductwork, Garage
Door Opener, Whirlpool Bathtub

sir you are at the most amazing place to learn what you need here! PM and I'd be more than happy to help where I can.

Read posts, listen to podcasts and read books!  Don't stop, never stop!  You'll learn so much but you'll learn more when you start on the first deal. :)