All Forum Posts by: Lisa Phillips

Great! Its a separate group that has really delved into Sub30k and where these questions have been asked (and answered) and its 800 members now and free! You can view my profile to see about getting an invite.

Hi!

How nice! You went into high crime city, huh? Excellent, and congratulations to you and your wife for making that happen. It would be great for you to tell this story in the sub30k mastermind group (you can check my profile on getting access), to help build the story around investing in these areas. Also, you have people who have invested in safe, and high crime areas, so you can bounce ideas off of them there.

For the most part personally, we made sure we secured the building in a way that really deterred criminals, and made sure we do a block by block analysis - learn how to read which blocks were good, and which ones we should stay away from. If you choose the wrong block, you might as well burn your money up.

How is the city government? Corrupt, fair? targeting homeowners and landlords fairly or unfairly? I think those questions mean the most.

Its a separate group. I dont know what the rules are about posting about it, so I dont put the link down, just direct people to my profile page if they want to join. What are the rules, if any, regarding posting links to groups that are outside of BP?

Hopefully, you're in the sub30k mastermind group, as that question has been asked and answered already! Good luck!

@Chinedu Michael Onuoha Of course there are some still left! We post them every single week in different parts of the country.

Hmmm. I currently work with a few clients in Massachusettes with sub30k, and we have found other markets for them to invest in. Also if you're interested, there is a sub30k mastermind group (you can check my profile for details) that go in depth with BP members. I usually dont discuss markets that we've found on open forums (anymore) since people will jump on them way too quickly. Good luck!

I know we have 750+ members doing sub30k in a group I created (check my profile for how to get invited).

Its pretty fun, actually.

#winning

Lisa

A bad HOA is just asking for it. I have a decent HOA with my condo rental and I had to literally ask permission to rent it (they were trying to restrict it). They have a lot of power, and it sounds like they are very quick to foreclose.

I wouldnt just take any deal though (i dont prefer HOAs in general, let alone an aggressive at times, poorly managed at other times), but definitely this will be the sticking point for you, and what actual rents are. Good luck. 

Thank you @Jerry Padilla!

This is a great resource for the Sub30k Mastermind Facebook Group (600 members now!)! Let's keep in touch, as one more resource never hurts. Thank you for putting the terms together so we don't have to look them up and ask. What states do you do your lending in?

Your list of markets where Sub50k is pretty okay, although we stay away from them for many, many reasons - taxes, crappy governments, and lack of return on investment are a few reasons - you have to always make sure investors aren't just buying a cheap properties, but earning a decent return.

but, let's definitely keep in touch - surprised we haven't already, but let's do it now!

Lisa

Hi!

Have you looked at the previous posts on Sub30k investing yet?

Here are some photos of what people are doing

https://www.biggerpockets.com/forums/61/topics/115...

And, this is the post that really got people talking about Sub30k, in addition to my BP contributor posts (oldie but goodie):

https://www.biggerpockets.com/forums/61/topics/115...

And, there is a free but closed 600+ member Sub30k Mastermind Facebook Group that goes into people doing ongoing sub30k deals, funding options, and low income housing strategies - like renting out per room, etc (you can check my profile for details on it) that has real time deals and scenarios being discussed. As you know, BP had real push back when this was first introduced, and even now people think you should "run away as fast as you can" if you go into these communities. I just say go in knowing how to 1.) treat people well and 2.) understand different types of demographics and not be so tense about working with them or stereotyping them.

But, the links posted really do tell really good stories, with photos, as well as tell the tale of the beginning of the Sub30k movement here on BP  :-)

Good luck!