All Forum Posts by: Rod Smith

Thanks @Jerry W. , @Jeremy Dyer , & @Chris Clothier

for your responses. I will follow-up on the information provided.

Thank you Rachel, Rodney, & Marco for your insightful comments! You all made very good points. Based on your input, I may be headed in the right direction.

Thanks for the feedback Ali Boone.

So did you buy and hold? If so, did you just turn them over to a prop mgmnt company and wait on a check every month?

I currently own one property in Georgia and plan to look for others in Ga or SC, mainly because of the price point. I also have an affinity for the area because I grew up down there and plan to return in the future.

The problem is I live in Northern Virginia and do not really have anyone to represent my interest down south. I also feel like I am not able to compete for any hot deals because I can only go down there once a month.

Considering the travel costs for scouting properties and the fact that I most likely have to hire a property manager for my rental property am I approaching this the wrong way?

If not, what is a better way to invest in a market in which you do not live?

Sidebar: I have considered finding a partner in my areas of interest, but I would need to know this person and I have the same style, vision, and work ethic.

Any suggestions?

That's great Allen. I am also involved in a Homepath Renovation loan and ran into the same issues with contractors. I did not contact any contractors until AFTER I already had the house under contract (this is a single family) and I still had problems finding one that was willing to give an estimate or proceed. Most of the contractors I dealt with felt like they were being too tightly scrutinized by the mortgage company and did not want to deal with the extra paperwork. Nevertheless, I am not detered because I think it is an excellent product. I just have to find the right contractor that has nothing to hide and is fully above board.

Hello Everyone,

I just purchased a property in Birmingham, Al that I intend to flip. Can anyone refer me to a good contractor to rehab the property? Contractor must be licensed and insured. All information will be greatly appreciated. Need to start getting estimates asap.

Hi Everyone,

This is very first post, so any feedback will be greatly appreciated. I am a investor that owned properties in the past, has been out of the business for a few years, and just decided to get back into the business last year. I have some cash and ok credit (low 700's), looking to leverage the cash I have to buy multiple properties. I have used a hard money lender in the past, that made loans based on the ARV of the property and usually came out of pocket with little to no money. My mortgage broker was involved in the deal and did the refinance immediately after renovation was completed. Entire process typically took 90 days. Now all the hard money lenders I find online want you to have 25-35% in the deal. I know you are asking, why don't I just contact my old lender? Well, it has been about 8 yrs since I last used him, and I do not have his contact information anymore, nor can I find him online.

Nevertheless, I found a company that claims they can get me a line of credit, but when I received the application I became a little concerned. I was instructed to open an account with youcheckcredit.com and then provide them with my username and password so they can do "soft pulls" during the approval process. So my actual questions are:

1) Does anyone know anything about this process and does it sound legit?

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