All Forum Posts by: Shane Ussery

Couple things come to mind. First, when you consulted with your Attorney didn’t he or she suggest holding property manager liable? Also, when u went to court wasn’t the unpaid rents addressed?

@John Aloisi some of the things I’m seeing posted here I’m starting to wonder myself. Personally and I’m ok for people starting out actually I encourage it but a lot of people on here I keep hearing pawpaw earl was a landlord I’d hold on to his overalls as he demanded payment. Or I’m such a sophisticated investor I social destinanced myself before it was cool... this whole site isn’t what I thought. No wonder they don’t have any Big Players on here.

One of Napoleons Generals said, “Sir the conditions are not just right for the Attack Tomorrow” Napoleon said, “Conditions not right hell I make circumstances “!

To all, sure you don’t want to paint a house if it’s going to rain later on that afternoon. People let the media and current events dictate the things they’re doing... the time is never just right something will always not be just right. I have found oftentimes we get exactly what we want where we know it or not. I’ll be honest this is a new one on me. I been investing for 9 years now. I sold a property and made a decent profit when I sold.. with everything going I too am human I got nervous and stalled a little. Then I took a step back and said You know what that’s just my mind, I’m more than my mind. From when I started buying close to the bottom things are a lot more pricey. I had people say Shane you can’t do it again. While it was more challenging I’m pleased to say I’ll be closing on one 1st of June half value make a few  repairs it’ll be worth 3x as much. I don’t let other peoples story become mine. And yeah is it ever a right time? I know thats the reason I offered half my Betsy are hedged in case things are cheaper down the road.

@Sharlene Burch I don’t invest in anything I can’t control.Unless, you have control over the stock market I wouldn’t keep anything I wanted to keep in their... in fact in the long run you’d prolly be better off investing in some c or d properties. Let me explain, here’s how I value those type properties. Let’s take a house in the ghetto and yes I can show you were to validate my point. You can get 3-4 of those around 50 let’s say 4. Paying around 400 a month that’s 1600 a month now I’d get a property manager for those but you can clearly see where im going. Next, a stock is just a number.. so if u look at it like that on paper a replacement costs would be be 50k x4 then you net worth based off of 401k to Real Estate just went to 200k. Why don’t everybody do that if that’s the case? How many people will buy some a scenario. My argument is id rather do that then invest in something I can’t control

Ok I haven’t read one post that explains the theory on whatever works for you. I’m going to break this down and show you the psychology here. What seperates a Billionaire from a Begger? Is it the Begger who’s less of a human being because they beg? No the Nucleus of it all is Awareness. The Billionaire is Aware on how to be a Billionaire the Begger is Aware how to beg. Now, could it be argued the Begger if they had their choice would they beg? Possibly? Could it be argued that they both have 24 hours in a day but it’s what they choose to do with their time that makes the difference? Absolutely! So who’s right or wrong the Investor that finds deals and subs everything out or the investor that finds deals and does all the work? Success is defined as the progressive realization of a worthy ideal... so if someone sets out finds deals fixes them up and manages themselves that makes them successful in their right. If their not doing a predetermined goal deliberately then their a failure.. if you’re doing  that and that’s you’re predetermined goal you’re a success. Point I said people have listed their way in a time like thieves we need to get back to the basics and if we look hard enough we will find we as a Country’s have bigger issues on the table.

@Gina Nicolas I don’t or can’t speak on your situation and I’m not saying all pm are bad people. It’s a wonderful hands off approach. However, not everyone is honest and true in their intent. I remember one time, I used to do a lot of houses where I’d look for multiple properties at one time. I went to this one where their was 4 houses owner was in New York houses are in NC. Ok the houses for Sale were listed through a whole different group of Realtors. And in order to be a Property Manager in NC(unless your the owner) you have to be a Realtor. So why would if your selling go to another Realtor? That told me he didn’t trust the ones managing his houses. To test my theory I asked the ones that managed the houses if I was to buy would they manage them for me? The Listing Agent put them on the phone on speaker so I could hear. When I asked the question they said no. Reason being they wanted houses for themselves. So, I was just disgusted with that scene I told Listing Agent she should contact her client and advise him they were trying to make him  discouraged so they could get them cheap. So im telling you you’re smart for questioning. Same token until you know facts don’t jump to conclusions.

@Gina Nicolas you know that reminds me of myself starting out. If you have a property on Section8 that means overall condition is good as they inspect and have strict guidelines. I don’t know how long this contract is with current pm? After my property manager was done with me condition 1 house was left in and the tenants he put in other house.. his actions prolly set me back a year. I just told him I would take it from their. He’s lucky I didn’t sue but I just moved on. I would check with section 8 office in your area and see if the story they say matches to theirs.. Napoleon Hill speaks of a Mastermind Principal if you’ve ever read any of the material. That’s what I’ve mastered over time is getting what I want to get done through others.i just had that one bad experience from pm after that I just started doing it myself. Private message me I’ll give u somebody pointers that will help if u decide to take over yourself.

@Jim Chuong valid point. Your a fullbloodied investor. I’m same way on that. Spending time on houses after acquisition ties up too much time you could use acquiring more assets. If I was going to work for money I’d get a 9-5

Investment Info:

Single-family residence wholesale investment.

Purchase price: $1,000
Cash invested: $1,000
Sale price: $8,500

Made a little curb appeal. Resold

What made you interested in investing in this type of deal?

The Price

How did you find this deal and how did you negotiate it?

Went on Craigslist..Went to property knocked on some neighbors doors asked what they paid in Rent entirely too low . So wouldn’t work for a rental with repair cost. So I contacted owner and told him I didn’t want it. He told me if I paid back taxes which was a thousand dollars , I could get it.

How did you finance this deal?

Cash

How did you add value to the deal?

Repair roof and painted outside.

What was the outcome?

It was a win win for everyone. The investor I got it from got taxes paid, I was able to help people that needed work to do. And I sold it to someone that bought it to live in. So I just turned it back over to society.

Lessons learned? Challenges?

It went the way I thought it would.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No