All Forum Posts by: Lisa Phillips

@Dawn Anastasi My idea of fun involves an Elvis impersonator, but I don't know if I can get that one past the #futurespouse

We have decided on a time and location: March 28th, 2015, Las Vegas!

@Darrin Carey You're reasons for passing are spot on really, as a buyer. Pass.

Lol, "I'll take the deed and 500k to take it off your hands" - Darrin Carey

@Joe Fairless Yeah, as far as you buying, the costs are prohibitive, and there is something else that will give you better returns with less hassle if you keep looking.

I was pondering and throwing out possible ideas the current owners may be able to do to salvage, shape, and.or change the layout of the building. I always wonder if we put our heads to together how to take a crap hole and turn it to gold (costs and payout permitting).

LOL! Thank you, this really made my day! To be honest though, I think I would rather do an inner city renovation than to planning a wedding. Any tips? :-)

This is a very funny article. The fact that they said, "You don't want to live here" is terrible! 351 units and only 45 are rented, and those are full of crazies???

I see why you would walk away. What could the current owner due? Demo the majority of the buildings, create a community playground, parks, different landscaped spaces that could possibly be used by the larger community, scale back to 1 building. Start kicking people out during the landscaping and getting in a better tenant, put a freaking POND on the premises if you need to :-) Cost permitting, and make it a local gathering spot and attraction...

Im all about demoing buildings that dont make sense (or selling each unit off piece by piece - whatever they want). But, I DO think this could be saved with some creative ideas.

FYI Joe: I tried to leave a comment, but couldnt put an email address in. It highlighted the field but would take in any inputs.

@Mike Hernandez

Hi Mike! I can not say much about Legalshield, I went with Legalzoom because for the same price it offered unlimited CPA consultations. I DO like legalzoom, the lawyers I have spoke with are great. I just make sure that I clearly explain to them what information I want when scheduling an appointment, and they have great lawyers who are experienced in those fields. The one time i consulted with their CPAs, however, it was not so hot. But, its included in the fee I paid, so I will try again and see if that pans out. Does that help any?

@Bryan Williamson 43203 depends on the price range. The crime is at an acceptable level in my opinion, you can definitely purchase in areas that are no where near where any action is. You just have to watch where you buy, go down there and see if your gut tells you anything.

@43206

I would definitely look at this one if I were you, and similar ones like it:

http://www.realtor.com/realestateandhomes-detail/530-E-Gates-St_Columbus_OH_43206_M35032-24956?row=2

The crime isn't enough to turn me away, again, its about purchasing on a quiet street. There may be incidences 8 blocks over, but thats 8 blocks over and you may never see it.

This was very quick, so I did not check the rent options, but you should know how to do that using my technique:

www.affordablerealestateinvestments.com/leveraged-analysis-technique

Happy to help you out! Any more questions is at [email protected]

Good luck, you have so many options to choose the sweet spot, especially as a new investor.

@Bryan Williamson Hi Bryan! I am not familiar with the area, so I dont have the on the ground level to view it. Can you give me a zipcode or two, maybe I can do a quick search. Im more than happy to help you out.

@Jon Hey there, If I am managing the contractors, I schedule to meet all my contractors the saturday before, and set up a time for them to do the work the next saturday. I also have a lockbox, and I higher them out Thurs/Fri so I have enough time to get their saturday to change the lockbox number

After I am done and its in the property managers hands, I let them handle all repairs. It really works out well, they are usually cheaper than going out on your own.

I've been able to do that between those things. If I change the lockbox code, I usually text the contractors the code when they are scheduled to go.

Amazing find @David, North Carolina is fantastic right now! I mentor people on finding these properties, analyzing/renovations, etc, and they JUST purchased in NC, but they live in Manhattan. Beautiful home in this price range.

Im glad that people like you guys and myself show people step by step how to make money in these areas, and the pictures help too, because the path to wealth should be open to all people...and this one is sooo affordable ;-) 7k??