All Forum Posts by: Mary McMillan

@Renata Tavares Wong I called a For Rent by Owner sign on a property and asked if there was any chance he was willing to sell. In our conversation, he opened up about his entire portfolio. Turned out that almost all of his properties are in the two areas I seek most. I had to follow up with him several times to let him know I was serious. I listened to what he wanted—to sell the whole thing or a big chunk of it. I drove by and looked at the exterior of all properties, picked the handful I (and investor friends) wanted, and made him a bulk offer.

Good luck!

@Jack Orthman thank you for your thoughtful response. All of those details were intentionally left out. I should have been more clear that the advice I’m seeking is in regard to the transfer of ownership of the properties themselves. How to handle inheriting tenants as well as the maintenance and condition of the property? Questions I should ask about how he’s been handling the properties (like who handles the yard work, and any extra expenses I should know about etc). I appreciate the input!

Hello BP community!  I found an off market portfolio where I am offering to purchase a handful of properties.  We have tentatively agreed on a bundled price, and I'm looking at them tomorrow with the owner.  I've gotten a few other investors involved, we would be buying a total of 13 doors.  Four of them will hopefully be mine.  Would love to know your suggestions on questions to ask.  Rent rolls, whether or not they're occupied and if so when leases are up along with copy of lease agreements, etc.  Tell me your thoughts!

I look for 72205, 72212, 72223, 72227, and the northern part of 72211.  Many investors have a lot of luck with 72209 and 72210, but I personally choose not to invest there.  As per the previous post, there are pockets of good/bad within every zip code, so keep that in mind! 

@Sarah Drinkard

I am a first time investor, too, but have lived in Little Rock for 20 years. Look at Markham street (it runs West to East).

North of Markham has had higher appreciation and neighborhoods are generally safer. There are pockets of awesome areas, but the current prices in those hot spots are high. So, cash flow per door will be less, especially in SF.

South of Markham has the highest crime. (You can look up crime rates to see). That being said, lots of people invest there because the properties are cheaper and can cash flow better. The trade off would be the quality of your tenant and how they will take care of your property.

Hope this helps!

@Chase Calhoun looks like a great deal, please share the after pics!