All Forum Posts by: Maxwell Fontaine

@Neal Phillips hey man we meet every month for a REIA meeting. Our next one is the 13th at Stony Badger Tavern. https://www.lyhreia.com/

@Ian Lacks second Thursday of every month at stony badger

You can always reach out to Nina Davenport. She is a local investor and realtor.

Group of local investors networking together to revitalize the Hill City of Lynchburg Virginia. We would love to have you.

I like to check out any property with at least 1 of three people (my realtor, my contractor, my mentor). They are going to be very relied upon when I go look at properties. 1 They are going to look out for their relationship with you by not giving you bad or misguided advice to preserve their own interests in the future. 2 Hopefully, they have been doing this kind of investing long enough to see potential issues and what a quick fix could cover up. 3 Know what questions you should ask. Keep in mind that the seller is going to try to get out from the property for a reason, just ask a question and listen, if he's motivated enough they will reveal more than needed OR they will not have enough selling points which could be a bad thing. 

ie; vacancy rates (leads to knowledge about the area or housing issues the tenants had), water usage (potential plumbing issues), appliances held in the units (leads to how old the electrical is in the home) CHECK IF THE OUTLETS ARE GROUNDED !!! 

THIS PLACE IS GORGEOUS! THAT'S AMAZING ! CONGRATS ! @Cam Jimmy

1. No you shouldn’t feel bad about it at all, it’s not your responsibility prior to your ownership.
2. My first duplex wasn’t in the best shape and was rented out. My move was to meet with the tenants and let them know I am I the new landlord (not owner) and the property will be kept in a much better shape than it was done previously. Let them know you hope they can continue new way of management.
3. My tenants are actually section 8 also and our area has somewhat strict rules on the stipend for the tenants with a long waiting list...they have their own motivation to keep clean in order to stay. Your property your rules.
4. I also like the gut to stud renovations to bring the property back to a standard I’d like to live in. I feel it’s a respect thing. Would you want your kids to live in your lack luster property?
5. Implement cleanliness rewards. Sometimes selfishness can reward others sadly.

Clearly these are only my opinions. Hopefully they are just some points to add.

CONGRATS ON THE PROPERTY!!! @Account Closed 

Local REIA group and then look to partner with someone at the very least, offer to send out their letters, ask to walk the property with them. Don't ask for a mentor for you! Look for ways to help them first before looking to take up their time with nothing in return.

If you feel comfortable with that go for it. Just be prepared to add at least double your projected rehab budget just in case. There could be a hidden reason they are selling.

Hello BP’ers,

I have come across a small bump with missing information. I have purchased 2 projects (newbie) from wholesalers and I seem to have hit a deal bottle neck.

A lot of the wholesalers in my area are getting a little too loose with the numbers and pushing the prices and fees too high. The deals just aren’t So, as a counter measure to try to open the funnel again, I have made direct mail letter. I don’t want to cut anyone out but the show must go on of course.

My question is. What are some questions to make sure you ask a potential seller as an end buyer?

Target: Buy & Hold long term