All Forum Posts by: Shaniqua Dupree

Hey Allie, 

Not sure if your still looking at Rome, GA but it's a pretty big Renters Market here. There are a few big developments coming going up that will likely be new buil leased units. I recently spoke to a local real estate agency and they said their property management company is booming but they need more listing. The housing availability is super scarce here, according to them. I believe that the homes that are available are rehabs and not turnkey. In nearly every neighborhood I see rehabs going on. Do be aware that many homes are 2/1 or 3/1 at best. 

On another note, Rome is growing more and more. Definitely a great town to plant an Investment flag. 

 Hey, did you find a realtor or contractor?

 No, only enough for maybe 3.

Hello All,

The other day I went to look at some property owned by family. It's located between 2 Cities. 15 to 20 minutes each way. It's in a more rural area but close to the highway. It's the perfect "getaway but not too far" location.

I want to rent the land and use it to for STRs. There are two mobile homes on the property. They most likely need to be trashed but it may be possible to rehab them. The land is also over grown and needs some tlc.

I know that if they had the "right" offer, they would sell. But I think they should keep it. There is new development happening that is going to raise the nearby property value and it'd be terrible to miss out in the opportunity. Plus, we need to STOP SELLIMG THE LAND...Especially to large corporations.

So my question is, what would you do? What would you be willing to pay to rent the land? Any tax strategies to consider? Would you even use mobile homes? Would a glampsite work?

See photos attached

. They are screenshots from videos I took.

Hey,

Now is the perfect time for CREATIVE INVESTING in real estate especially for those with low money.

Here is why:

STRs aren't going anywhere and if you can make the experience unique EVEN BETTER. What is a unique experience though...?

CAMPERS

GEODESIC DOMES

TREE HOUSES

SHIPPING CONTAINERS HOMES

Just check out Airbnb and see how the platform has changed. The Founder completely changes the interface to fit for the "Creative Experiences". STR Campers are the cheapest way to get into real estate investing with little money. And you dont have to move them. Trust me $25,000 is plenty to start. Also, boats are also an option to. It's the winter time and lots of folks are offloading. If I were you, I'd take $15,000 and start my first "Creative STR". Keep $10,000 for other investment opportunities. Never want to have all of your money in one basket.

if you have a camper, check out land that is near water, has a great view, or is secluded. DEFINITELY consider places like Julian if you start this in the winter time. Tourist places would be best during the winter time.

Now, like all investments there are things to be aware of that are pretty important to the success of your STR. 😉

This one is $11,250 in La Mesa. Its literally ready to go!

https://www.facebook.com/marketplace/item/708321760479603/?mibextid=dXMIcH

P.s. This is not my camper. 

I hope this insight helps. 

Honestly, you'd be better off starting the glamping business and getting it appraised. Atleast you have proof of value with the cash. Then you could use business credit to fun more units.

Investment Info:

Single-family residence other investment.

Purchase price: $165,000
Cash invested: $40,000
Sale price: $250,000

I did the BRRR Method on this property. I lived out of state for the majority of the time that I owned this property. It started off as a 3 bedroom 2.5 baths with a full basement. I renovated it into a 5 Bedroom with 3 full baths. I rented out the top Unit and 2 rooms to 2 seperate tenants in the walk basement apartment.

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

I was looking for a place that best fit my family.

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

I went through an agent and talked to Navy Federal about Refinancing options. Turns out I was SUPER lucky to have gotten a traditional refi with them within months of purchase. But that's a story for the forum.

How did you finance this deal?

Traditional 30 Yr Mortgage and HELOC.

How did you add value to the deal?

Added partition walls to create seperate bedroooms, pained cabinets, updated paint, added walk in shower, pantry room, basement kitchen.

What was the outcome?

This was a tough property because life happened and I ended up working with shady people. Good news I asked away with more cash than I expected. 😁

Lessons learned? Challenges?

TRUST YOUR GUT EVERY TIME! Something told me to not work with these guys. Their work wasn't even that great at their own house. I didn't listen and it caused much stress. I did face foreclosure at one but my military service thankfully covered that. Being out of state was super hard. Being out of the country was even harder.

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

I did work with some folks that were great.

I stayed in an RV for the first time earlier this year at Marion County Fair Grounds in Indianapolis, Indiana. I was super excited but here are some things that would have been better for me if it was a Short Term Rental:

1. Not having to move it AT ALL.

2. Ensuring I always had enough propane.

3. Not having to hook up or touch anything from electricity to sewer. 

4. Stabilizing the camper so that its not too shaky when walking inside.

5. Having amenities such as TV, f

snacks, wifi, towels, soap, etc. 

6. Cleaning supplies. Things get dirty quick in the camper.

7. Ensuring everything was fully popped out such as awning and interior wall pop outs.

8. Outdoor seating.

9. Instructions on what to do if something goes wrong. Honestly a dedicated YouTube channel would be SPECTACULAR!!! I tried using YouTube  but it wasn't very easy to find what I needed.

10. I wish I could have just left whenever I wanted. It was a cool experience but it would have been better if I had help to know how to do things right.

I honestly would reccomend that you consider starting your own small "camper valley park" (just a cool name. Lol) That way you can make it like a community. You may have to start off Dry Camping or find creative ways to supply things like water(portable water tower), Electricity (solar farm), etc.

I wish you the best on your journey.

Thanks for clearing that up for me. 

Hello All,

So ive been thinking about foreclosure homes and how to get people out of the situation by creating a win win situation. So I have a possible strategy but I want to know if it sounds ok.

Example Scenario:

I have a motivated seller who just received foreclosure paperwork.

They want out of the foreclosure and is willing to allow me to buy their house "subject to".

Now the only way to stop the foreclosure is if I get put on the deed and use my active military orders to stop the foreclosure. (In logic thats how it would work)

Then the home will be in my name and the home owners will no longer be in foreclosure status. 

I then place tenants in the home or sell it or whatever I decide. 

The perks for the tenant is that now they can find a place they can better afford and the foreclosure is removed from the credit. 

Does this sound right? Should I tweak the deal or drop it? What would you do and why?

Its just an example.

Thanks so much. 

Shaniqua Pope