All Forum Posts by: Donnie M.

@Katrina E. @Turo Tales @Jeff Sullivan @Darrell Bratton @Clint Shelley @Jordan Douglas @Kimberly Abeln @Roberto Filice @Victor Phung @Ryan A Brayton @John M Solak @Colin Feild @Tyler Giles @Kade T. Brunson @Seneca Pena-Collazo

Networking event with no pitching or selling of anything. Just hang out and learn from one another. No speaker up there talking for 1 hour straight. About 10-15 minutes of speaking and the rest is networking.

This will be our third meeting. The first meeting had 8 people who attended. Meetings will continue every first Tuesday of each month.

No investing experience is required to come.

Meeting Location: 118 Michigan Dr, Dothan, AL 36301 - vacant project just outside the southeast side of the Circle.

Date & Time: Tuesday, November 2nd from 6:30 to 8:00.

Topic: Rentals, Wholesaling, Flipping, and 5+ units

This will be our second meeting. The first meeting had 7 people who attended. Meetings will continue every first Tuesday of each month. No investing experience is required to come.

Meeting Location: 118 Michigan Dr, Dothan, AL 36301 - vacant project  just outside the southeast side of the Circle.

Date & Time: October 5th from 6:30 to 8:00.

Topic: Wholesaling and Flipping

Another goal for this meeting besides talking about wholesaling and flipping is to network and develop relationships with like-minded investors.  My email and cell are in my signature below if you have questions about the meetup or just talk RE in general.

@Clint Shelley @Jeff Sullivan @Turo Tales @Darrell Bratton @Katrina E. @Kimberly Abeln @Roberto Filice @Victor Phung @Ryan A Brayton @Jordan Douglas @John M Solak @Colin Feild @Seneca Pena-Collazo @Tyler Giles @Kade T. Brunson 

Tuesday, September 7th, at 6:00 - 7:00 CST in downtown Headland. The location is right in downtown Headland (red building with a sign just past

David's Pizza) and 10 E Main Ct, Headland, AL 36345 is the address. Plenty of parking at the Square (you can't miss it lol). My cell is in my signature so feel free to call or text if you have questions about anything.

If you live in Enterprise, Eufuala, Ozark, Daleville, or are near Fort Rucker come and join us too. It will be every first Tuesday of each month.

@Clint Shelley @Jeff Sullivan @Josh Chapman @Turo Tales @Kimberly Abeln @Roberto Filice

@Roberto Filice@Roberto Filice

@Roberto Filice

This will be our first meetup. Meetings will continue every first Tuesday of each month. No investing experience is required to come.

The focus will be networking and getting to know like-minded investors. One goal is for us to grow together and find ways to succeed in real estate. "Your network, is your net worth." The group name will be Creative Real Estate & More. Let's learn from one another to get more creative in how we take down deals, grow our wealth, and move closer to financial independence.

@Marcos Gonzalez

@Alex Acuff is local and would be great to reach out to. I’m no longer in that area anymore (moved two hours south to Dothan, AL) but still do get leads from time to time out that way. Feel free to reach out to me too.

@Jeff Sullivan  @Victor Phung  I'm a full-time investor, broker and wholesale as well in Dothan. I've used Forrest and Fields to manage my 8 unit for 2 years. They do fine with my 8-unit but I've heard of others having issues with them.  Sherly Shoupe does well with property management and her cell is 334-685-0528. I know she is hungry for more to manage and has a ton of experience managing.

I know @Josh Chapman and he is a super solid investor and great person to know. He knows the Dothan and Enteprise markets very well so if he recommends someone check them out.

@Turo Tales I'm focused on acquiring more rentals and wholesaling/flipping. What are you focused on and are you still buying in the Enterprise and/or Dothan area?

@Whitney Hutten I'm offering low double digit returns on private money secured by the property it's used to close on.  I'm am also looking for a partner who would bring the money and I would do the work on getting it rehabbed and sold when doing flips.

Thank you for the advice on being careful who I partner with. I would definitely not jump right into it and make sure we are all on the same page and have everything done through an attorney as well as discuss everyone's expectations and what the exit strategies are. I have been burned by someone when I was a private money lender so I do have some experience in what not to do =].

I have access to HML but not looking to pay their rates/fees. I also have a bank that will allow me to finance at me 80% of LTV. The property I'm closing on is 2 houses on the same lot. A 2/1 and a 2/1.5. The 2/1 is 600 sq feet and the 2/1.5 is 1450 sq ft. The 2/1 is bringing in $475 already and the 2/1.5 will rent for $550 as-is but I can push that up to 650. Amount looking to get funded is 50k. It will be a classic BRRRR and my fourth one. For more details, repair cost breakdown, mls, or to talk further please PM me.

ARV 75k and needs 2k in repairs.

Some options I've thought of:

1)Partner funds project for a profit split. We can negotiate percentages. We would expect more involvement/work load shared. I've never partnered on a rental but definitely have partnered on flips.

2)Investor looking for a passive investment loans funds in exchange for a set return.

3) I am open to suggestions.

@Nick Dahal Welcome to BP! I'm not in the Bham market but you can apply this anywhere. If I could go back in time on my first home purchase, I would house hack it. Either go 5% conventional or 3.5% FHA loan (if it needs extensive repairs FHA has the 203k loan which will allow you to put repair costs into the loan).

I would search for a duplex, triplex, or quadrplex that you would be comfortable in living in one unit and renting out the rest (you can't go over 4 units because 5 units or more is considered commercial).  You can do it with single family as well but then you would rent out rooms to other people.  You are only required to live their one year.  You'll get great experience managing the property as well as have the opportunity to save quite a bit money because your residents at a minimum will be paying your entire mortgage. The call this house hacking and @Craig Curelop just wrote a book on it. 

After a year, you could find another property to house hack and rinse and repeat.