All Forum Posts by: Jason James

@Emmy K.

Congrats on the deal! Getting a little tougher in the louisville area to find deals that work. Again congrats. 

@Marcela Correa

 I agree. I will reach out to them to get a more clear answer and to be sure. Funny how in real estate after hundreds of deals you continue to learn. Another good thing about this business! Keeps you interested. 

I have a property that we recently purchased and started the rehab on. As we were going over our rehab plan we noticed the side entrance to the house has a landing that is lower than the upper level (1st floor) and goes to the basement. You can also enter the 1st floor from the side entrance. One of the guys asked me if this was a walkout basement? I told him I think not because you have to go up stairs to exit but at the same time it does walkout of the basement. So I wasn't 100% sure although I am 99% sure it is not a walkout. Just looking for thoughts from others. Thanks 

Here is the house as it sits. 

@Tyler Laugherty Make sure you buy right! Do not get so pumped up about the deal and pay too much! Know your market! So my answer is ALWAYS save what you can on a rehab and NEVER do anything shady. Most of the time I see guys pay too much for the deal and then try to cut corners on the rehab. In the end they either have a very hard time selling the property or come out of pocket to move it. Just a thought. Good luck. 

@Michael Seeker

 I agree 100% that the population doesn't feel as if it has decreased. 

 I agree with this as well! 

"I'm perfectly fine with you not wanting to invest in Louisville...more opportunities for the rest of us :)"

Off to buy more deals... :) 

@Stephanie Dobbs

 This is a "slow" wealth building business. It is not a get rich "quick" business. Some people have been very lucky and hit home runs right out of the gate but most lose money on their first flip. I would say take your time. Real estate isn't going anywhere and there will always in any market be deals out there. Fools rush in!

Find your core strengths. What value do you bring to the game today? Take those strengths and help others in the area that are lacking in those areas. It could be something as simple as having free time. You may have time to offer to an investor to do things they do not have time for. I am mentoring a guy right now and he had 0 money, 0 knowledge but loads of time and desire. He couldn’t even change a door knob 8 months ago! Since we have started he has flipped a house (profitable) and purchased 6 rentals with a partner. All with none of his own money! It can be done you just have to be fully committed and ready to do whatever it takes. Again take your time, listen, learn and by all means make sure what you’re doing feels right. If it smells fishy then it’s a fish!  

@Seth Switzer Welcome... 

I often think about investing in the Lexington to have a little more diverse portfolio but Louisville has been keeping me pretty busy. I am sure you will do great there.  Again welcome. 

NICE! GREAT JOB!! 

@William A. Good luck. From my experience in this city realtors run in clicks and usually look out for themselves or their close (investor) friends. They want easy money and do not want to put in the work required to help new investors. The agents that are investor friendly are also investors and they either A. buy the deals or B. already have a large group of buyers they sell to. Thats doesn't mean there isn't a hungry investor friendly agent out there it just means that I haven't found "one" yet. I have agents that help me close deals and are ok to work with but none of them really "find" me deals. When I started investing I got frustrated for this very reason and became an agent myself. I learned alot. I then quickly learned that my time was better served investing and started letting other "ok" realtors help me out. In short there is a balance. Keep looking and you will find agents that work well with you. 

@Skyler S. Welcome. 

I think most have pointed you in the right direction already. Of course you can spend endless amounts of time on the site but I would also encourage you to really dig in and take some sort of action daily. Start now and do not wait until you feel like you have learned everything from sites, blogs, podcast and such. Although I feel you should use every resource available you shouldn't forget that experience, actually doing something gives you that real world knowledge. If you don't apply what you have learned you have then learned nothing. I visit BP daily and I learn something every day from the site but I also pound the pavement daily and "experience" investing. I know you said you have done one deal already and that is great but keep pushing! Think outside the box and ask questions. Look where others don't. The market is changing in Louisville and deals are a little tougher to find right now. You will be successful with a little honesty, hard work and persistence!  Again welcome.