All Forum Posts by: JM Payne

Read, go to meetups, read some more, and get yourself out there.  Meet as many people as you can, suck up as much information as you can, and decide how and where you want to deploy.  Then go read some more.  Then secure financing, whether it be your own or via a pre-approval lender letter, or private lending.  Then read some more, and go implement your strategy!  I hope that helps.  Get out there and kill it!  You've got this!

- JM

Jared,

If you use the "events" tab here on BP, there are a ton of free local BP meetups and events, of which the presenters are specifically barred from high pressure sales or product pushing. Don't write things off because of past experiences...our local meetup in Maine has been amazingly wonderful, and I am trying to find a replacement in VA. Additionally, look to your local REIA or Realtors Association for more events. I hope that helps, good luck!

- JM

If "downright own" means that you own those three other properties outright, then leverage those and go shopping! That's what we do...business HELOC on property #1 provides for cash offers and rehab, then sell house at end and repay, rinse and repeat, or you can rent out and refinance if you prefer to hold. Your position is golden and the sky is the limit. Go kill it! I hope that helps.

- JM

Alex,

With truly no capital and not knowing anything more about you, it is unlikely that you will be able to pick up a multifamily project in the markets you listed on your own.  Your best bet would be to see about bird-dogging for an experienced investor...if you are able to find a solid deal, then perhaps someone else will buy it and you can piggyback for knowledge.  That said, anything is possible if you have the hustle!  Whatever you choose, best of luck to you!  Go get it!

- JM

I have never had such a problem, and that sounds terrible! Normally I'm running for the front door to get away from the mosquitos here in Coastal VA. OFF! repels fleas and is available at any wal-mart. It also repels mosquites. I hope that helps, be safe out there!

Which company is sponsoring/presenting? 

Thanks,

- JM

This is wildly subjective. 1 year, 5 years, 30 years....it all depends on the specific investment goals of your lender, and will vary from lender to lender.  Depending on your network, you should be able to find a lender that suits your needs, though.  I hope that helps.

- JM

When implemented properly, barrrr works anywhere that people have a need for housing.  There's no magical brrrr market.  Have fun and good luck.

- JM

Just going by zillow comps and sales records and not really knowing the market, you're way above the listed comps and both the avg sales and list prices. Do you have comps to support your ARV, or are you trusting the realtor?

Your initial interest could likely be people just wanting to see it post flip, especially if there are people hunting in that area.

Aesthetically, it's very brown.  The backyard needs to be cleaned up, and that front mulch bed looks like a big hole in the yard.  Plant some colorful plants, decorate a little bit, perhaps with a flag or something on the porch to give it color. 

Your realtor's photos do a great job of showing how small it is.  Look into camera tricks to make spaces appear bigger than they are, and I would even consider staging as it is a challenging space. 

I hope that helps, and keep in mind I am giving you quick and dirty without actually knowing the market.  Good luck!

- JM

I was assuming you meant on the structure side.  If you literally mean to reduce the actual tax, then I have had luck approaching the assessor's office directly, with comps in hand, and having a friendly conversation about how they arrived at their numbers.  Sometimes they just happen to have bad comps.  It also helps if you have a long-standing relationship and good rapport with them.  I'd try that before I send in the big guns.  Hope that helps, good luck!