All Forum Posts by: Scott Johnson

Best of luck! This is something I really need to start in my area!

Thanks, @Jerry Holt! I figure it’s worth a shot. There’s no portal and they seemed dismissive when I asked for the information… twice. 

I mentioned this in another post, but I figure it's a good topic.

The city of Greenville, NC is telling me that code violations are not public record. This doesn't make much sense to me, and I'm searching for the ordinance that put this in place. 

- Should I send them a Freedom of Information Request to try and get the information? 

- Has anyone done this? 

- Is there a "non-city-related" way to get these violations (besides driving around looking for signs?)

- Are there other lists that may be effective as well?

Thanks in advance!

 I'm sooooo annoyed with Greenville, NC. They're telling me that I'm not able to see the code violations! Considering doing a freedom of information filing...

Pay that $500.00 to a wholesaling instructor and give them a portion of the first three deals you do. That's what I did.

Exactly, @Nathan Gesner

Go back to the lease, @Ethan Martin. Most states require that the owner maintain the property stays in habitable condition. If you've done so and you did your best to make sure it was clean prior to move-in, then you're doing your job. 

I leased at a local Student Housing complex and the property manager had a breakdown before move-in day and few of the units were cleaned or completed. Enter the lease (which I made every person I leased sit down and read prior to signing) that stated that regardless of the condition on move-in, the lease was binding and that we'd take reasonable action to complete the unit after move-in. 

If you walked out after cleaning it and you would have lived there, she can suck it up and pay the rent. 

A "Warranty Deed" is simply the piece of paper that is filed at the courthouse and declares who holds title to the property. Unless that's a state thing, there's no value attached to the deed itself.

Do you mean it has a $225,000.00 lien or mortgage on the property?

Carrot

Make the leads come to you. Their educational resources will help you formulate a name.

Thank you so much for your service, @Brock Salgado!

Does a VA loan require you to live in it for a year before you use it as a complete rental property? That's the only consideration that comes to mind when you decide to house hack. If you get transferred or deployed (and the bank finds out, of course) could that cause a problem?

My cousin @Alyxandria Welch and her husband are house hacking in Wisconsin and may be able to provide some insight. 

Hope that helps!

Wealth is defined as "How many days forward can you live without working." so I'm responding based on that definition. 

@Colton Hahn and @Jared Hottle are correct in that syndication deals take a lot of the leg work out of investing. You still need to study the hell out of the prospectus to make sure you understand it, but other than that it's basic financial literacy. I'd seek out a mentor on BP that's actively participating in syndications.

As you have capital, there are numerous ways you can invest it and get the benefits from real estate: 

• Direct Private Lending
• Transactional Lending
• Investing in Notes
• Lending to a Hard Money Lender
• Buy-and-hold (Residential, Commercial, Etc)
• BRRRR (This is flipping and buy and hold combined with a refinance)

The wealth is derived from passive income, which is why I'm not mentioning flipping or wholesaling. Those are active income and don't fit into what you're looking for. The closest you'd come to that is a BRRRR, which ends with passive income and refinances. These can all be done in your own backyard.

On the private lending side, take a step back and look at what your friends, family, and acquaintance are doing. Are they flipping or buying rentals? You may want to approach them about private lending (if you trust them). Also, head to your local REIA to meet up with other investors who may need other types of lending. You may run into a firm who'll put your money to work!

These all have their benefits and drawbacks, so you're going to want to do the work and investigate them yourself and let us know if you have any questions!

On the paying yourself, that's a great question for your CPA! Wish I could guide you but that's out of my expertise. 

I hope this helps!