All Forum Posts by: Jim Schock

@Dario Contreras Yes I will try to post when I see them.  To this point they've only sent me stuff in Indy, and  Detroit which I'm not really interested in.  As @Joey Hamaoui mentioned the areas are pretty tough areas.  I think my biggest concerned would be trying to sell the property down the road.

I forgot to mention most of the deals are all cash at approx 40k.

I spoke with Morris Invest today, and they are doing projects in Jax.  Mostly in the 08 & 09 zip code, but the house they actually sent me was in 06.  I ran the number through the BP Rental calculator, and it cash flows at 11.8% which is right at my target.  The deals are all cash, and you can purchase at various stages of construction.  Seem like a decent plan.  Just not crazy on the area of town.  Very high crime rate, and violent crime at that.  Not sure if I will do anything with them, but thought I would share the information.

@Tyler Jahnke  Do you have any updates on how this is going now a few months in?  I spoke with them today, and they are actually doing projects in my area which has some interest.  Although they call them C areas I don't know if I would agree with that.

@Andrew Ashby  This is a great story, and inspiration for folks like myself just starting out.  I'm in the Jacksonville area (St. Johns to be exact), and the growth in this area is incredible.  It does make it hard to find the right properties to make the math work.  Best of luck to you in the future.  Also thank you for your service.  

@Brandon Johnson Awesome.  Thanks I will listen to it today.

 I was thinking the same thing.

I've seen many conversation about LLC's to protect yourself, and your business. It seems to me that the main advantage of the LLC is asset protection. My question is this. For someone who is just starting wouldn't a personal umbrella policy accomplish the same thing?

@Kyle Wilkins Spend time with the rental calculators on BP.  I would also listen to some of the past webinars that help you look at deals.  Although $300 may not sound much it may actually be a good deal once you run all the numbers.  Lastly get Brandon Turners book on buying rentals.  It worth every penny.  I'm starting out myself, and it has been a huge help.  Good luck.

Thanks @Andrew Syrios