All Forum Posts by: Jim Canull

Keep your eyes on Biggerpockets as I've attended a few that have posted here.

Constance,

building the team is truly the hardest part, yet most important to save time, money and headaches.  One of the most important factors is experience; which pretty much means they have done things so many times they have made plenty of mistakes and have learned the hard way.  Of course, reviews and referrals help in finding the right people.  If you can find one key person who already has already built their resources and doesn't mind sharing that is a savior.  I have built my resources over years and always seem to find them from nice people who understand being nice always pays off and sharing is part of that equation.  Successful people believe in abundance and don't feel like they are giving away everything if they give you a good lead:)  Let me know if you need any help along the way and I'd be happy to help out.  My father was in the business for 50 years and I simply followed his lead of always lending a helping hand without any expectations.  Good Luck!

I just read the entire thread.  I would say if you are doing a rehab out of state, your team is everything.  Definitely worth asking around and ask for at least two references (who are not the person's mom, dad or brother:) of people they've help do the exact thing you are wanting to do.  The right "experienced" team has already made all of the mistakes in the past and has a fine tuned process.  This doesn't mean everything will always go right, it just means they know how to be pro-active to minimize possible problems, and know how to quickly handle situations and nip them in the bud when they pop up.  Speaking on the topic of picking the same finishes for different properties... yes and no.  I do like the concept of looking and feeling better then your competition, but there are ways to accomplish this without simply spending more money then they do.  Someone who knows the area should also know where to spend and not spend money; meaning they've worked with tenants and buyers in the area and know what they pay attention to and what they don't pay attention to.  That knowledge in itself can save massive chunks on your budget.  That's enough rambling for now... I hope you get something  of use out of my ramblings.  Let me know if there are any specific questions I can help with.

Hello,

Seeing your interest in Indy, would you like for me to fling you deals when my team comes across them?

Jim

 I was a property manager over 100 properties for a of couple years and helped implement a part of the lease that charged them a $25 fee every time they refused to show and it went up to a $75 fee if it was more than five times .    Tenants always say they will allow to show when they are trying to sign a lease, so they’re more then willing to sign off on the charge.

I currently have three properties locked up in a new hot area of Indianapolis.  Everyone seems to be looking for an investment, except for the week that you get one locked up:)  Knowing these are all solid investments I would be happy to use my own finances to purchase them and do the flips to sell or lease out.  My thinking is that I will keep one and sell the others.  If I am able to get tenants in the properties and make them no-brainers I feel the value goes up because I took all of the risk and time to get them fully turnkey producing cashflow.  I know I can get around $2000+ plus monthly and was wondering a good price point where I will get multiple interest?  Thanks for your thoughts.

Where is this property?

Mike,

What's a good email to send some deals as we find them?

JJ

I guess I should just keep the message simple by stating this process makes more money😃.  Even if it’s a dollar more it’s worth it.  But in this case I was speaking of investors goal for 1% profit compared to their purchase price. So if this process brought in .5-1%☝️ more, that is double.  🔥

🥳 I hope your new year is full of producing new ideas to make money and expand your happiness, and not critiqueing posts on the internet😉

you can see fountain square out the window:)