All Forum Posts by: Stacy White

I’m a cash buyer and I’m putting together a direct mail marketing list in ListSource. I recently read that an author was using a criteria of 70-100% equity in the home. This may be a stupid question, but how can someone be in default/pre foreclosure with 100% equity? What am I missing?

@John Warren

Thanks John! Great advice. I’m working on stepping out of my comfort zone and attending as many meet ups and events as possible.

What rules/tips/systems do you have in place to make your REI run smoother? What would you have done differently if you were building your business systems knowing what you know now?

For example, same color interior paint for all properties, not providing washer/dryer, no carpet, no pet policy, no garbage disposal, landscaping tricks, etc.

@Jordan Callaway

Great advice. Thank you!

@Annette Hibbler

Good to know you do exist! I’ll keep looking!

@Tony Gunter

Exactly. It makes total sense to me. I wouldn’t want to deal with it. Is there a way to incentivize them?

I’m wondering if getting my license would be beneficial. But I’ve read the pros and cons to that also.

I’ll find a way. I’m in Mobile, Al. and our local investing club hasn’t had a meet in over a year.

@Mindy Rowe

I actually live I Saraland, so I'm trying to find something there. But it's HARD! The market here is HOT and finding something below market value to BRRR is not easy.

But if you can get your hands on something out here, you’re golden. People want to live here...it’s the new “across the bay”. The school system is to credit for that.

I’m not opposed to Mobile, I’m just not as familiar with the different areas. But the prices are much better than Saraland!

I've contacted several agents, but I'm having a hard time finding one that works with investors and really understands what I'm looking for. The most I'm getting is an emailed MLS listing and an offer to schedule showings. Any suggestions?

@Mindy Rowe

Happy to see someone else from Mobile! I'm new to the real estate investing world also. Searching for our first BRRRR property right now and attending our first auction Friday (just observing). I'd love to connect...I'm always looking to surround myself with like-minded folks. Good luck with everything!

Are there real estate agents that specifically work with investors? The agents I’ve contacted do not seem interested in helping me locate investment properties. They won’t even send me info on foreclosures and REOs. I can understand that from a commissions standpoint. Do I need to contact the company and ask if they have someone that specializes in investment properties?

Also, if we purchase properties at auction, do I need to bring a realtor? Would it be beneficial to bring a realtor? Will they allow me to attend and just observe an auction to learn?

Thank you!

@John Corey

Thank you for the sound advice. After more due diligence, the numbers will barely break even on the condo with a realistic vacancy rate factored in. That, along with HOA dues and the possibility of special assessments, is just too much unknown.

We are hoping to locate and purchase our first SFH in the next couple months. Our ultimate goal is to work our way out of the rat race.

Thank you again for the reply. We are eager to learn!