All Forum Posts by: Shequann Burrwell

I recently was contacted by a investor that is looking for more assets in the nyc market and has funds secured. They are looking for Single Family, Multi-Family, Land, Mixed-Use & Commercial. They are also looking into purchasing unsecuritized notes as well. im looking to team up with another investor in those markets to put together some deals for them. any takers please do message me or email me.

hello everyone. i would like to just drop a line to everyone. i listened to the podcast last night while driving around and i realized a lot of what they were talking about i already do the only difference is i have no marketing costs at all. i make my own bandit signs and do no mailing. most deals are out of my area but i net work very well online and that has made all the difference. i use a number of diffrent softwares and mobile apps and am constantly emailing everyone i work with buyer and seller. i move fast with everything and never shy away from a partnership. but back to what im really posting about.

If anyone want to partner up on any deals im and vice versa im more then willing to lend a hand. as wholesaling evolves online and in other ways teaming up to make deals happen between one another is going to become more and more common and soon be the norm. i have ran into a number other investors that would never shy away from making some money all the time ( 50% of a assignment fee or half of a rehab resale profit) versus making 100% of an assignment fee a few times year. to me it just makes more sense. so im out here and im coming up on my first year doing this and its full steam ahead as i learn and grow deal after deal, i hope my peers do the same and we all make tons of money in this business.

i agree with @rick

@Rick Baggenstoss undefined when new development comes to these areas it puts a sense of excitement in the people that live in area. the risk comes in your ability to weed out the tenants that will be long term and be there for a while verse the tenants that will not pay on time or at all and won't be there for long for one reason or another. i personally prefer nurses or someone with a more stable job then a temp agency or kmart can offer. i also look for what kind of car they drive. its newer they might have a loan out which is a sign of a more stable income. also how long where they at their last address 3 years or more is a good sign. but even with all that under their belt the more personally issues might make them a headache to rent to.

in regards to most "warzones" being black is entirely untrue. most are a mixture of all race. the term warzone comes from the crime rate within the city not the neighborhood and condition of the buildings within. there are some great people with these buildings that make great tenants and live very stable lives. thousand of diffrent situations that make them bad tenants and good tenants. your screening process makes all the difference in these areas but thats still no reason to shy away from them. real estate investing is suppose to be challenging and if your in it for just the easy deal minus the tuff then your in the wrong game.

i have 11 indiana properties under contract recently. the seller was fine with signing 11 separate contracts for the 11, but yesterday the seller asked me if i could just use one contract for all 11. my only issue is if i do 1 contract for all 11 properties will i need to sell them all to one investor or can i sell them each separately with just one contract. if so how would i word the contract so that its not confusing for them to understand. they are from overseas and dont speak very good english.

here is the full list of the indiana properties that im currently wholesaling. bold numbers are the asking price. the assignment fee isn't included but for each property its $5000 per unless you group more than one property together something can be worked out.the italic numbers are zillow's estimates and the last set of numbers are the Appraiser estimated resale value.i have repair costs for some and others im still working on but they all need work and are not move in ready as of yet. also they all need the back taxes for the year paid and maintenance fees charged by the county. (just a note if you look up county records for the delaware county the site is a bit confusing to find the information but its there. they have maps for everything you can think of so it takes a while to find the right one.) Oh and counties are in the first boxes and cities in the second. message or email me with any questions you have or information you need. thanks

i posted before that i was in the process of contracting 11 properties in indiana from a investor overseas. just had a few questions on how i should go about it some what.

1. should my exit strategy be the usual subject to inspection clause or just a null and void after a set amount of time.

2. also im not making to trip to indiana to see the condition of the properties so repair cost i want to have a realtor estimate for me or a contractor in the area. unless i can find a buyer that will run the cost them self. the properties are spread across 3 or 4 diffrent countries and it would just be to much hassle to drive all over and see each one.

also any one interested in any of them i have the addresses and the appraisal for each as well as the asking price my seller is looking for them. there are taxes owed and fees for property maintenance. i will be trying to get most of those tomarrow as well. last question

3. any indiana investment vets know if i need a title company or a lawyer to close in the state?

My areas a bit higher about $800-1100 a month. Regardless of the amount there can still be positive cash flow there.

The " hand holding" you are referring to is property management. With strict property management rules in place and a firm relationship of understanding between you and the tenant your lowering your risk. Thinking that all people in "war zones" don't pay rent or ruin the property is just silly and shying away from them is just deneying your self a small gem that makes other investors rich. I understand that its easier to rent a apt in a warnzone then say a A class neighborhood simply because there are more people who make $30000 a year and can afford $800 a month in rent then someone that makes $130000 a year and can afford $1800 a month in rent. Don't need any analytical data to back its just common sense to me that if more investosr invested in these neighborhoods not only will the property values go up but so will the quality of tenant.

i think its still important to do your research when screening the tenant. he might be able to pay full year lease now but what about after the lease is over. what debt does he have, and whats the deeper reason for paying up front, does he have a stable job. treat this as you would any potinial tennant dont just see the big check.

@Philip Elmes i agree 1000%. I want a majority of my future portfolio to consist of such properties. a majority of these properties just need to fixed up nice and rented. with the correct rules in place and a firm understanding between you and your tenants positive cash flow i sure to follow. also the more of these properties that are fixed and rented and kept in good shape will turn grade D neighborhood to a C,B neighborhood and raise the value of properties throughout the city. in my eyes warzones don't exist just untapped opportunities to build better communites.