All Forum Posts by: Robert Leonard

Are you planning to continue with a student rental or will you rent to others?  The management will be very different as a student rental and you will need to make a lot of adjustments to rental agreements, applications and procedures when dealing with a group of student tenants as opposed to the rest of society.

I don't do student rentals.  I recommend that you lookup and contact @Account Closed he specializes in student rentals in the LSU area.

Hi @Katie Andrews, 

Generally speaking, the smaller the market, the slower things happen.  That doesn't mean it's not possible to flip a house in smaller markets, but those markets are usually more suitable to rentals.  I say that, but your expectations need to fit the market no matter the strategy.  Rentals will fill slower, be lower rent and you will have a smaller tenant pool too.  For flipping, learn what an absorption rate is and then talk to a reputable real estate agent who can give you the numbers for those markets.  

In the simplest terms, how many houses sold in the last 12 months?  What does that average per month?  How many houses are listed right now?  So how many months supply of houses are currently listed in that market? That equals the absorption rate.  This is a factual numbers way of analyzing a market for suitability of investment strategies that goes beyond what anybody's opinion might be of whether or not it makes sense to try and flip a house in a given market.  Would it make sense to try to flip a house using high cost money or even low cost money in a market where you have an 18 month supply of houses or with an average DOM (days on market) of 200?

Those numbers are usually dramatically different in smaller markets from larger markets where there's more activity.  The exceptions tend to occur when you have a small town that becomes a popular place and new subdivisions start being built and when existing housing comes to market (gets listed) they sell quickly.

Hope this helped.  All the best to your investments!

@Katie Andrews

Hello and welcome to BP @Jonathan Steele!  Invest in what you know.  Anything anybody tells you, you have to know how to verify it for yourself, because the only numbers that matter, are the ones that you know are acurate based on your own analysis.

People will say, "the numbers don't lie." Well, the numbers don't get on the page by themseleves either do they.

As a teacher you will appreciate this, due diligence = homework.  You have to do your homework on every deal/opportunity!

Ah, @Lane Babin, what good timing you have!  Go to https://www.meetup.com/BPLakeCharles/ and you can become member number 100 for our meetup group.  There is a meeting coming up on Monday, March 27th!  Hope to see you there.

All listed items can be bought at Home Depot if you establish credit there. Somebody will have to install it, but you can buy your landscape plants there too. For HVAC, You might pay a bit more than a local vendor, but their warranty will be a selling point, since this is a flip. The credit will be something that you will use again if you stay in the business.

Would you lend money to a person without a face?  Complete your profile.  You have the opportunity to make yourself known to the entire community here on BP, which just so happens to include a lot of investors who lend.  Be present, be professional and partner (with experienced investors) until you can stand on your own.

Take your pitch to the next level and read the book, Pitch Anything, by Oren Klaff.

Find your parish or municipality geoportal map and you should be able to find the owner.

https://atlas.geoportalmaps.com/

Investor: "Surely, you can't be serious?" "Wholesaler": "I am serious, and don't call me Shirley." I often get a good laugh out of what people send out as a "wholesale deal" and then demand that only "serious buyers" need reply. Don't make me (or other investors) laugh and you won't have to tell me to be serious.

Lafayette, LA, why would anybody invest there?  ;-). LOL!

Welcome to BP @Kelsey Kyser!  I'm an investor here.  I co-host an investor's meetup and we are meeting this coming Monday night.  You can find our group on meetup.com and there is no charge to attend our meetings.  If you can make it, bring your deal, bring a notepad and bring a friend!  It's not shark tank, but we do open the floor to wholesale deals anytime somebody has one.

A-Z can be whatever you want it to be in residential SFR and neighborhood classification, because it's all made up! I don't like it because it's used a lot here on BP and it's bogus. People come here to learn about REI and people throw around subjective terms like A-F neighborhood ratings that's all a matter of opinion and no real standard. In commercial real estate there are class A-D properties and it is based on age and amenities and is not a measure of desirability, like it's often used around here to classify neighborhoods.