All Forum Posts by: Shari P.

@Alicia Marks

1. Self educate and never take advice from broke people. -I spent 1 yr

Listening to multiple podcasts, listened to more than 40 audiobooks on real

Estate, met good ppl in the process that excelled my career. Help others be successful.

2. After you self-educate, don’t be afraid to take chances - make sure they are sound decisions. Be patient, listen to people who are more knowledgeable than yourself.

3. Don’t rely on someone else to do your work. Take responsibility.

4. Have an in-depth understanding of a task, especially when dealing with

money.

5. Try to stay organized. I use a

Rocketbook ($25) so I

Don’t have pads of paper laying around.

6. Continue to self educate daily.

I have 2 sets of AirPods and I listen to books while I work or hanging out.

@Alethia Hines my bird dogs find me properties that meet a basic criteria. Some are from ppl they know, they talk to at a yard sale, a for sale by owner, or just talk to ppl In the selected neighborhood.

If working for new ppl, you probably won’t make much bc they are starting out. I’ve heard 15-50$

I pay well bc I want to keep them bringing me deals (and they do!)

My guys make 1/2-1.5% of the sale price if I buy (its scaled ) for average= 1/2% Great deal 1.5% of the Purchase price.

They are worth the money.

If I don’t buy the property, I still give

Ok them $50-$100 if it was legit.

-they’ll need gas money to continue finding houses.

@Marco Aceves Fayetteville market.

Active Military, retired military, DOD employees= guaranteed paycheck.

All of my properties are in Fayetteville bc it's just too good. Lots of opportunities for BRRR.

The market is changing due to massive housing shortages and the C class neighborhoods are turning around!

I never buy in crime areas. Great cashflow. There are FB forums for FtBragg investors that offer off market properties and a lot of wholesalers. Good luck!

@Mickey Dimon no credit report ever

Pulled (NC). I have a lender that I’ve done multiple deals with and they don’t pull credit reports but every 90 so I can buy multiple properties under 1 credit pull. I’ve done 5 transactions with them and working on another.

Credit score went down 60 points or whatever that’s called. Try credit karma to raise score.

@Connor Kerr - there is a housing shortage and it’s in her best interest to stay put and she probably won’t find anything cheaper.

If I was asked, I would just tell them that I bought the house, they’ve had 9 months at the original rate, and raising the rent to meet the mortgage and bills.

@Dustin Leonard I would say invest where there is a lot of guaranteed money and low cost of property (large military bases in the south). I start with researching the areas (no bad areas), migration patterns, and whether there’s more renters or owners in the area and what else is around me such as amenities/schools.

I’ve started buying a little farther away from my target market by following the “path of progression”, county or city growth. It’s nicer in my area with new stores or neighborhoods, and generally cheaper than in the city.

@Connor Kerr I asked the property manager write a letter saying basically what you said. My inherited tenants have been getting over for many years and they know it. I raised the rent 150$ and it’s still 200/mo under current rent value. We just said to let us know whether they will be staying or going bY a certain date. -They came in and signed the lease. I’ll leave them alone for the next 2 years.

@Aaron Cox I use the 1% rule lightly, so it’s always close or more than 1%. This doesn’t work for all properties, especially those more expensive homes. If you buy a $200k property, the local rents (that you can get) may not be $2k a month and may only be $1800. You have to find the spot in your area that gives the

Most bang for the buck. I have around $500 left over after all bills are paid and I try not to go under that number. Although my houses are all renovated, plumbing issues cost me the most so $500 profit on each property gives me a great buffer for high dollar repairs. Good luck!

@Justin Megna you can use alternative financing where the property secures the loan. You have to get a good deal of course and this financing is way easier than traditional financing. I’ve done multi deals with a company and it’s easy.

@Hunter Warren I use REI HUB to track everything and it's easy to learn and inexpensive.