All Forum Posts by: Michelle Reid

@Brian Stephens That's both interesting and depressing - Ha!  I am intent to find that diamond in the rough.  As you say, I just need the education.

@Johnnie Walker We will not be living in the house.  It would be solely investment.

@Marian Smith Amen!  That's all that has been going through my head - should I wait for another correction.  It's been 11 years if we call the bottom 2009 - typical economic cycles are much shorter.  The problem is, what if RE goes up for another 2 years?  As Warren Buffet says, "the best time to invest is when the market is open".  Hopefully if rentals stay consistent, we will be poised to make some purchases when it does turn.

@Philip Ganz Thanks for the referral!  @Lien Vuong and I have already connected. 

@John Barrett Good points.  How did you line up your financing?  I've only done conventional loans.  Is it basically the same process?  Did you use private, conventional or hard money or all of the above?

@Dustin Lauer I will start a mail campaign.  Do you ever skip the mail and go straight to a phone call?  Of course no one answers their phone these days and they are bombarded with robocalls.

@Hector Rodriguez what great info.  Thank you for sharing.  Are you still self-managing your properties?  

@Blake Dailey Great BRRRR. Thanks for sharing. Who was your partner? Was it a friend or a new RE contact?

@Will Gaston Congrats!  Great start to the year.  Another vote for networking.   How did you start out?

@Michael Ealy That's a great story.  Thanks for sharing.  Networking, creativity and thinking big seem to be the key.

@Curtis Bidwell Thanks for sharing. I have not gone deep enough into any of the MLS items as they just seem upside down from my initial analysis. Maybe I could dig deeper to look for opportunities to improve as you did.

@Michael Ealy hmmmm.  You make a lot of sense.  But how does a newbie convince venture partners to deal with them?  What does someone new to the game without a ton of capital or experience bring to that table?

@Michael Corey I've often thought about it.  I just can't see how I'd assemble a team long-distance.  I know others have done it.  I think I'd be more confident with some deals under my belt.  I've looked into turnkey there as well.  I also don't know about the community, employment etc.

@Ann Bellamy your next Burlington Black Diamond meeting is on my list of attending!  Thanks for the info.  I need to zone in on the process.

@Wes Beale Thank you! That does help. I've heard great things about fiverr.  Is the software pricey?  Have you gotten deals this way?

@Michael Ealy That is my long-term plan. Hopefully the next deal as I am not 22 years old.  Although this would be my 2nd investment property. I've been out of the game for a few years.  If I'm going to make mistakes.  I'd rather it be on a $4-500k prop than a $2m investment.  Would you agree?

@Russell Brazil I hear you.  The market doesn't care what I want to pay.  

I've just been burnt 2x buying in these hot markets.  First 2 family - bought mid-height, then recession, rents went down, bled money for 2+ years, then got sued due to tenant stupidity, then sold after taxes and depreciation walked away with about .50.  Primary residence = bought for $425k sold 10 years later for $425K.   I just can't make the numbers work at the prices they are selling for vs. current rents.  I don't know how others are.  I really don't want to repeat the same mistake.

@Kaitlyn Pescatello, then Definitely!