All Forum Posts by: Jimmy Moncrief

In most markets there is a supply shortgage.  I don't know how there can be a bubble when there is a supply shortage and increasing demand.

@Chris Mason - that's an awesome idea!

I would use a licensed contractor that has experience with working with out of state investors.

I would also use an app - where you can log-in and see progress.

I wrote a write-up of a construction app here: http://realestatefinancehq.com/best-construction-management-app/

trust me as a banker I've seen it cut both ways.

I will say I have seen people use it for more good than bad - especially when you are buying cash-flowing appreciating assets!

Great job in identifying the true problem with lifestyle and too much debt.  

Good luck!

Also note - you might want to find an investor and flip a property with - you split the profit.  Great experience, you make some good money, no debt on your part!

Just a thought...

Man! Rough comments!  

Mistakes happen people!  Do you have any kind of documentation on what the lease was agreed to? I would start there.  

What kind of online payment system do you use?

@Clayton Crawford - I would switch lenders - DM me if you want.

@Richard Elvin - I don't invest there but it's absolutely gorgeous!

Any rural market like Etowah is going to have lower prices - you are also going to have lower rents.

If you need financing - let me know!

Good for you man! Executing this strategy perfectly! 

I have done a 180 on this issue.

I used to love multifamily and the cash-flow with college kids (ALWAYS GET THE PARENTS TO GUARANTY THE LEASE).

However, I really like having families in my property and them treating it like their own.  The less maintenance costs the better.

Here is an infographic on single family vs multifamily: http://realestatefinancehq.com/single-family-versus-multifamily-real-estate-investing-infographic/