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All Forum Posts by: Parker Grissom

Parker Grissom has started 2 posts and replied 10 times.

Post: Good Property managers around Birmingham area

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Hey Cinto, 

I would recommend Watts Realty. They are an accredited management organization with IREM. They manage several of my properties and I am very pleased with them.  

Post: Buying with Cash and then taking out a Home Equity Loan

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Hey @Evan Barney I was in a similar circumstance as you. I received some inheritance money a while ago and wanted to acquire my first rental. However, I was just out of school and had a W2 Job. I still bought the house with cash through a wholesaler. I am now in the process of financing out with Regions. They are giving me 70% LTV @ a 5% interest rate. I would do the process over again!

Post: Newbie that is interested in the investing.

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Hey @Tony Arkell Hill and welcome! You are doing the right thing by listening to BP and jumping on the forums to ask for help. I did the same exact thing a couple months ago and it has helped tremendously. I would continue to research, listen, and gather as much information before diving in. You can never learn too much, but don't fall into analysis paralysis. I've done one deal and I have learned more from that one deal than the 3 months of listening to BP and reading books. Brandon and Josh preach that too. Take action after you've done you homework. Good luck!

-Parker

Post: Rookies investors starting with fix and flip

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Welcome @Chase Ezell! My brother and I are investors from the Bham area although I currently live in Northport, AL. We close on our first rental Hueytown in a couple of weeks!

Would love to connect with some of y'all in the Bham area. Any of you attend any local REI meet ups?

-Parker

Post: Investors in Alabama

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Hey J.T. & Adam, 

My brother and I are new Investors from the BHAM area. We are closing on a property in Hueytown next month. We also went to Auburn, War Eagle. 

-Parker

Post: Crime Analysis When Looking at Deals

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

When looking at deals especially via Trulia, how much does the crime map play into your deal analysis? Is there is a type of crime that will turn you away completely? 

Post: What to do with a sizeable inheritance?

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10
Thank you everyone for your kind words. I appreciate everyone's insight and taking time out of your day to provide input. This has been a valuable board and it has allowed me to look objectively at the situation. -Parker

Post: What to do with a sizeable inheritance?

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10
Chris Lopez Bad timing indeed, ha! Unfortunately I don't. Heading there in vacation this time.

Post: What to do with a sizeable inheritance?

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10
Chris Lopez Thank you for valued insight. I have found myself a little wound up recently thinking, "now now now!". Your post really hit home and calmed me down a little. This is a long methodical journey. It is a process and success will come with calculated risk backed by knowledge and insight. On another note, I'll be flying into Denver tomorrow (8/30) for a couple days! Let me know if you're free to grab coffee or something. Would love to meet maybe get more advice! -Parker

Post: What to do with a sizeable inheritance?

Parker GrissomPosted
  • Lender
  • Tuscaloosa, AL
  • Posts 15
  • Votes 10

Hello BP Family,

My name is Parker Grissom and I new to BP. First, just a little back ground on me before we dive in. My brother and I lost our Mom to cancer in October of 2014. Our Mom was an amazing person. We could not have asked for a better person to raise us, mentor us, and love us. She taught us to work hard and never give up. She is the reason I am here now on BP. My brother and I seek advice on how to start our real estate investing career. We wish to continue to grow the wealth she left behind to us. To give back to the generations to come just like she did for us.

My brother and I are both in our mid 20's and work full time. We both have decent jobs with good benefits and all that jazz. But, we recognize that there is more to life than punching the clock, sitting in a cubicle, and counting down the years to retirement. We want sieze our future now rather than waiting for it 30 years from now. We understand that real estate investing is that vehicle that can get us there. We want expand the finacial wealth our Mom left us and real estate investing is how we want to do it.

Finding Bigger Pockets has fueled our desire to start investing ASAP. We are currently researching all we can to gain knowledge and insight to avoid common mistakes. We are listening to every BP podcast we can. I am currently reading "The Million Dollar Real Estate Investor" by Gary Keller. I have reached out to a local REI group and will meet with them next month. We seek advice from you all on how to continue to gain knowledge.

Our Mom blessed us with an opportunity that most people don't have. She had a successful career and always saved more than she spent. We understand the fortunate position we are in and we wish to take full advantage of it. Our trust fund is currently invested in growth stock mutual funds through a managing firm and we have been very happy with the results. However, we wish to move into the real estate rental game.

The current stragety we have chosen is to buy and hold multifamily and single family properties and rent them out. We wish to focus more on multi unit because from I have researched, they have more upside potential. The capital we have starting out would allow us to acquire them easily. With our inheritance, putting down payments on many properties would not be an issue. Eventually, we wish to acquire enough properties with enough cash flow to quit our jobs and invest full time.

My question to you all is:

What would you do if you were in our shoes?

What mistakes should we look out for?

What books would you reccomend?

Should we consider a different stragety because of the furtunate position we are in?

Any and ALL advice is welcome.

Thank you in advance,

Parker Grissom