All Forum Posts by: Tony Roddenberry

If you do a google search for "The best places to live" there are lots of sites that give a broad range of cities both large and small with ton of data supporting their claim. You can find lots of good information and some not so good. But there is only so much you can gain from the data Google spits out at you even if you have the patients and expertise to sift through it all. Even if I had plenty of both, and I don't, it still lacks the human touch. So if you have some extra time and want the chance to get to know a fellow investor keep reading.

I was born right here in my home town of Brunswick, Ga. way back when it was small costal community with very little crime and all your neighbors were always ready to lend a hand with anything that came your way. It's still not a big city by any stretch. In summer when all the vacationers are here we might top out at 125,000 and during the winter we hover between 90,000 and 100,000. But even with those numbers it feels like the hometown has outgrown me. It’s not the size, growth or the number of new people moving in that bothers me. It’s the crime, drugs and lack of morals that has come with the growth that are pushing me out. In the last 10 days we have had 5 shootings. That’s not the norm but it’s more than enough to want to take my family elsewhere.

As an investor I flip, buy/hold and wholesale when the opportunity knocks. I’m very hands on (I can do all things construction related) and generally do two to four flips per year. So far all my flips have been in the $90,000 to $350,000 range. All my rentals have been BRRRs and at the moment I’m down to only three SF units. When I’m not fixing a flip I operate heavy equipment and do equipment repairs for a friend who is a contractor or take or take on rehab projects for friends. I’m small time but for the last 7 years real estate has treated me well and I hope to grow my portfolio and retire from the residual income.

As an individual I’m a Christian husband and father. I’m a big time family guy that really enjoys it. My wife and I have two bio kids age 9 and 7. We also foster and have two kiddos we are working hard to adopt age 3 and 1. I’m also a bit of a country boy. I love taking the kids out on the four-wheelers, camping and growing vegies in our small garden. For me great night life consists of a campfire, sipping coffee and watching the reflection of the moon on the lake.

I’m looking for the perfect place to raise a family and make a good living investing.  Somewhere that has a really low crime rate and conservative values. Smaller towns hold the most appeal for living but more populated areas are where good investments are found so it has to be in a reasonable driving distance from a somewhat larger city. I've lived in and worked mostly in the southeast and hope to stay in a similar climate. Maybe the northern AL, AR, MO, GA area.

If you have any articles, websites or personal experiences of a place that will help me find utopia send them to me. Who knows, we might end up neighbors!

Thanks for reading.

Hi Jennfier. 

Thankfully the tenant was month to month so I will only have to send her a certified letter letting her know the lease will not be renewed. She has agreed to be out just before the 60 days expire so it worked out fine. 

Thanks for the info.

I just purchased rental that has a section 8 tenant in place. Do I still have to give that Tenant 60 days notice to vacate?

Thanks Scott Smith.

I will definitely dig into both articles. Thanks for taking the time to reply and posting the info. 

Hi Greg.

I know this is strange and something that goes against the grain but the builder and myself would be in the point position together. He will be more of the lead in actual construction and I will be more of the lead in the over all project. With that said  we have done several flips together and know our strengths and weaknesses.  We have a great working relationship and a lot of respect for each other. 

The builder would be getting a operating expense percentage but he would not be taking his normal profit percentage. That number is set and easy to plug in. 

I would like to get as close to passu as possible for such a small project. 

The Devil is in the details and getting to a dollar number each of us needs to contribute is proving to be harder than I first thought. 

Hi Scott.

I think the answer to your questions would be yes and yes. All of the partnership deals I have done so far have been really simple. I'm big fan of simple but with 4 people involved that's probably not going to be an option.

On the front side I need to come up with a fair value to what each person brings to the table. That's what I'm working on now. I believe we can get 10-15%  savings on building materials from the partner that manages the building material company. The builder is setting aside his 10% profit so that number is easy plug in. I will be working with the builder hands on doing all the plumbing and some other items in the actual build. The Doctor that will be putting up a good chunk of the funds will be saving us on loan fees and interest until the units are built and rented. So the question I'm trying to answer now is, if we wanted to be equal (or close to it) partners what percentage of cash should each partner bring to the table. 

Then I need to get into exit strategy, buy out policy etc.      

I'm putting together a deal with 3 other guys that want to build 4 SFD for long term rental. We are just getting started and have a blank slate to work with at this point. There is a LOT to be considered when you have this many people involved and I really want to get it right the first time. So I'm hoping someone reading this has "been there and done that" and is willing to trade the details of their plan and structure for whatever I can offer in return. 

Here are the players and what they bring to the table. 

First, we have a builder that builds both spec and custom homes . He is a second generation builder and is really good at what he does. He and I have also done a few flips together in the recent past that has worked out well for both of us. He will be bringing his knowledge and a undetermined amount of cash to the table. 

Second, is a guy that manages a large building supply company. He has been in the business for 30 years and is very good at finding good deals on materials and putting them on the job. He is new to the rental game and just put his second rental on the market. He will also be bringing an undetermined amount of cash to the table.

The third player is a Doctor that has had mixed success with real estate in the past. The last deal for him was a flip we done together. It worker out well for both of us and he is looking for more places to invest in real estate.  He will be bringing the majority of the funds to the table.

And lastly myself. I love bringing people together and putting deals together. I have done numerous flips and have been in the rental game for five years. I will be putting the deal together, helping the builder with construction and managing the rentals once completed.  

I'm hoping we can do an all cash deal to avoid paying the bank interest. 

If any has ever done anything close to this I would love to hear from you.

Thanks in advance for your input.

Tony Roddenberry

Mike.

Not sure when I will be back up you way. I'm still looking and trying to learn the market so any tips would be appreciated. 

If you ever in Brunswick or something down here catches your eye let me know.

Thanks Carol Webb. Message sent.

I'm in Ringgold, Ga. for a few days. Would love to meet up with other investors while I'm here. Will be looking a investment property tomorrow but we are also considering moving up this way. My farm are is Brunswick/St Simons Island, Ga area. Let me know if I can be of service in that market.