All Forum Posts by: Lisa Phillips

Over the last 3 years since I started the Sub30k discussion and movement, alot has happened. My volunteer moderated facebook group, Sub30kMastermindGroup has grown to over 4000+ members. The community also asked for more information, so I created these guides for free:

---> Your Sub30k Resource Guide

---> Your Step By Step Sub30k Interactive Guide (Book/Video Training)

---> Training Video (Not Public!) Getting Started In Sub30k Real Estate Investing

---> Your 8 Week Investment Plan To A Sub30k Property

---> Your Sub30k LLC Guide (As you will buy some of these in cash)

Please note - you only need 1 at a time, you will get the others after. Thank you.

Lisa Phillips

Real Estate Investor, Author, Coach,

Financial Freedom Advocate

Every market has investment potential, but different strategies are called for for different markets. Atlanta is BOOMING with making money (I have a 2 day intensive all about the Atlanta Market in April), while people think its cash poor. Lol, whatever. All that you mentioned can work with the right strategy. 

@Ross Denman  and @Ozzy Smith Um, coming on a platform that gets 1000s of views a day and telling everyone you have great low cost properties can tap out your market. I've seen it happen. But maybe you want more investors and have all the homes you can take. 

I think you are all correct, as it really depends on 1.) How comfortable are you in these neighborhoods and 2.) Regardless of the price, and more so in this segment, if you try to do it without knowing anything about rental properties you can get in trouble, sure.

As mentioned, my mastermind group is killing it, houses flipped to rental daily in the sub30k range. BP, for many reasons, are used to investors who have the money to not have to deal with this subclass out of necessity like some investors do to get their start.

@Dan Bryskin don't tell everyone about your goodies!!

@Isiah Ferguson I think you said exactly what needs to be said. Look, BP is not the place to have the discussion on lower income neighborhood. The people here just can't stand them! Yes, you and i both come from these neighborhoods, but they dont know me or you from adam and so - they still keep their viewpoints and opinions that our neighborhoods are just plane horrible - and for them and where they may have come from, it probably makes sense that they don't get it - ad others do.

If you want to see people killing it, there is a sub30k mastermind group (my profile has the details), and there are posts and videos every single day of people doing this and only this. I like how you're trying to change perception and your story, but its not for everyone and everyone posting against it - good. It keeps a natural barrier to entry.

@Raeshelle C. Hey, I got you. Your plan at $250 makes you a long way from 10k. However, if you start raising that to 400-500 a property, you can get there a lot faster in 10 years. You have 10 mortgages before banks start turning you away, and investing in the asset class I advocate, that's okay, since you can have these properties paid off in 5-7 years and own properties free and clear. Ask the same question in my facebook group and see what response you get.

20k-25k is just fine, BP is definitely for those with biggerpockets, literally sometimes, and a lot of new investors get lulled into thinking that they can get advice that works for them here, but you really need a different asset class to make it work (that they really dont like on this platform). 

@Jay Hinrichs Any investment takes some time. I dont know what they purchased for or how much rents were. You have to analyze both. 

I dont know if they came from these neighborhoods and knew how to read them, or if they never set foot before in these places other to invest and may not read all the signals well. I dont know if some of those houses that you dont think I would pass on, or if I would have jumped on them and done it differently - there are too many variables.

Also, you think the rental property game is only for "those with high paying jobs and a slice of their portfolio." So, you have your definite  idea of who should be in the game and you know what - BP would be better off for a lot of people if more people were more honest about who they think should be in the game, so people know that these experienced investors, in which you are one of, are not necessarily talking to them when giving advice - especially if the amount of capital they have you don't think they should be in the game in the first place. People aren't always that fundamentally honest, so there is a disconnect when discussing the numbers and strategies.

Personally, I actually like that you're being honest and upgfront. 

Right, everything you say is real. 

I tell everyone the minimum they need (depending on how cash heavy, how credit ready they are), and I dont care what neighborhood you're in - you better be prepared. Is 4k enough? Well, depends on quite a few factors, but generally no. Is 8k - that depends too no the property, location of the property, condition, how much credit you have available, how much income you come in, etc.

Its really different what each person can do based on a variety of criteria once they know what they have that's an asset.

Yes, its a lively group! That's what I love about it - they are committed, all doing the same strategy, supporting each other - and having fun while doing it!

@Jay Hinrichs - WRONG. Dont go into ANY market under capitalized, not "Markets Lisa Phillips Suggests." Just wrong if you think thats specific only to lower priced neighborhoods and not all markets. 

 So, that means dont go under capitalized if its a 150k home (which can literally end very badly for many many years - how can you make up for a mistake that large), and dont go into for a property you paid 20k for under capitalized (which will set you back significantly less than a 150k or 100k mistake). 

Like i mentioned, we're doing very, very well in our group, but we understand what this is about. This is NOT for everyone, so if you're uncomfortable with the idea, don't do it, but don't put your uncomfortable feelings on everyone who are quite comfortable in those neighborhoods.

@Raeshell

@Raeshelle C. there are a lot of strategies, see which one resonates financially and to your comfort level. People hold their noses up in the areas at the neighborhoods I teach about investing in, but I came from those neighborhoods and we're doing just fine in my sub30k group.

@Igor Messano You'll get the invite immediately upon signing up. Its just a completely different beast, you'll see - you'll love it, you'll be amazed.