All Forum Posts by: Rocky Griffin

I would encourage you to buy local. Find something you can use the Brrrr strategy on and have some liquidity for the next deal. 

I just wrapped up my first mailing. I started very small and targeted a very specific area. I sent 183 pieces. I received 18 calls, 3 of which were "Do not call", 5 showings and 1 contracted. Honestly, I struggled to handle the calls, showings and negotiations. I work full time at night and sleep during the day. For me, I would need an answering service to field the calls if i sent even 500-1000 mailers. I wanted to get my feet wet and see how things went. I'm happy with what I learned and just sent a second set. I think 5000 over 4 months is very progressive and will likely get you some deals on the books. 

I think the question is, are you paid for your efforts and if so in what capacity? 1099? 

Welcome! What areas are you looking to invest in? What type of drone are you using for your photography?

I personally use Cannon and Rayburn in Edmond and have been very pleased with their service and input.

I was just thinking about this deal yesterday and was curious how it turned out for you. Congrats man! Sounds like it went well. Curious though, did you go for short term tenants like travel nurses and med residents?

I enjoy hearing these types of success stories.

Shelter is a basic necessity and even those who abuse drugs need a place to live. I personally would prefer to avoid this tenant population. However, if someone is able to successfully collect rents I say go for it.

Congrats! There was another member who analyzed this same property not long ago. Are you planning to keep the current tenants or have a vacated unit? Any room for value add of rent increases?

You are effectively willing to pay market value for an investment property. If you have been a member of BP long I am sure you have heard the phrase "all the money is made at the buy." Several issues to consider. The first being $190K for code violations! You are banking on the fact that the city will make adjustments. Assume that they will not. After the fees are paid, you have to actually bring up to code the issues that created the liens. Consideration needs to also be given to the current owner and their redemption period. There is always the possibility  of other unseen liens/mortgages. Also consider legal fees for both quite title and lien negotiations. I would strongly advise against this purchase and encourage you to get your feet wet with something a little more straight forward.