All Forum Posts by: Paul Smythe

@Sanford Myers Upstate CREIA is going to be just what you're looking for (https://www.upstatecreia.com/). Long-running investor group with plenty of different smaller sub-groups depending on your goals.

Too much personal opinion here about the legitimacy of being an influencer. Income is income. She sounds overqualified, don't overthink it.

Lima One is a big operation and I was satisfied with them. 

Angel Oak was pretty frustrating and not a company I would work with in the future. Accounting with them was a nightmare.

All that said, I haven't worked with hard money in a few years. I did a lot of work to just make them money because of how high the interest rates were.

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My primary online resources:

Zillow rental estimator (I really trust this number as a quick baseline, use it for all my underwriting): https://www.zillow.com/rental-...

Rentometer (the free version still gives you a helpful number): https://www.rentometer.com/

Hotpads (search for comparable BR/BA mixes in your zip code, see what rent they are asking): https://hotpads.com/

To me, the better question would be "How did you build up to $50k/yr in cashflow in 10 years?"

That's a lot more interesting to me. Everyone is going to push their current strategy even if it hasn't gotten them to $50k yet. Let's hear from those who have.

Could they be legitimate? Sure.

Would I trust any hard money lender on Craigslist enough to do a deal? Probably not. You'll get burned more often than not trying things like that.

Also, a 3/2 that you buy for 10k, fix for 15k, sell for 75-100k doesn't really sound right. A house doesn't cost $10k unless it's ready to be knocked down or is in a terrible area.

I would be very careful with everything you're doing here. I'm not saying definitively that it won't work, because I have only a little information to go off of, but there are some red flags for me.

I’m pretty surprised they’re joining the iBuyer wave. Doesn’t seem like it’s in the best interest of Realtors. I’d be pretty frustrated if I were paying annual membership fees to be a realtor and they did something like this.

@Account Closed so to add depth to the porch, what color would you paint the back walls (and should I paint the side walls right next to them)? I've ordered these brown shutters (https://www.amazon.com/gp/product/B07RGLSP8T/ref=ppx_yo_dt_b_asin_title_o01_s00?ie=UTF8&psc=1) to go on the non-pictured windows and will likely be installing white vinyl railings and possibly the cedar posts.

Is there a color that would work?

@Justin V. I'd considered the plant idea, but I am very confident they would not be cared for and would die very quickly.