All Forum Posts by: Joseph Back

@Eric Harnden I am a wholesaler in the Montgomery market and would love to meetup or chat with you about all things Montgomery real estate investing. Montgomery is a great market for cash flow but you have to be very careful with what neighborhoods you invest in. Would also love to find you some deals. 

I am not a lawyer but I agree with @Michael Atkins, that way you are creating a formal relationship between you as the personal owner and the LLC.

@David Acosta Never transitioned from one to another but our experience with the apartments we own in Lexington is that the ductless mini-split unit is really only good for heating/cooling one room, so you would need multiple per unit. The PTAC units we have found to be a great solution as they are much cheaper than full HVAC systems but provide the same quality of heating/cooling for smaller 1bd apartment units.

I also agree with @Aaron Millis. Although it may be expensive to have the structural engineer come out and inspect, it is definitely worth it. Had similar situation on a duplex I bought and had structural engineer come out and say it was nothing to worry about.

@Frances Buerkens I have a sample deal marketing presentation I could share. It is for a 26-unit complex we recently sold in Berea, KY. PM me and I can send it to you.

@Natasha Verela I would say it very much depends on what your investing goals are. As a beginner I would focus on markets that have great cash flow which means your are probably going to be looking at tertiary markets in the mid-west and southeast. Any metro with a population over 1 Million is going to be very saturated with institutional investors and therefore very hard to compete in. I would focus on markets with population in the 200k-500k range with positive population and job growth. @Chris Grenzig mention of Lexington, KY would be a great example of a tertiary market in the southeast where you can still find cash flowing deals.

@Jonathan Cisneros First off I will say South California market is going to be a hard market to wholesale in, but regardless I would recommend one of the follow three options:

1) Do what @Scott Rogers said and partner/work for free for a successful wholesaler in your market. You will learn more from that than any course can teach you

2) Driving for dollars. This is the cheapest but requires most time. Basically drive up and coming neighborhoods and look for run down/abandoned homes. When you get back home look who owns these properties on tax assessors website and then cold call them

3) Cold texting. If you know your market pretty well and have some solid buyers you already have some sort of relationship this will get you to your first deal fastest. Basically, you purchase data or scrape it yourself on properties in specific neighborhoods that haven't sold in a long time. Take this list and skip trace and then use a legal cold text message platform to bulk send people text messages asking if they are interested in selling.

@Axel Ragnarsson PM me and I can give you who I use.

@Batu Dogan I am not in the Florida market but know a wholesaler through a mastermind that has had a lot of success doing RVM in Pensacola. I will say RVM may not be best option though, a lot of my colleagues are losing $10-$15k in court settlement costs as more and more people are suing over RVM. I would consider cold texting as a safer and cheaper option.

@Ethan Smith I just moved to Montgomery from Lexington, KY where I own 9 rental units. I would love to look at the deal as well and run numbers for you.