All Forum Posts by: Yolanda Brown

@Everett Marshall Welcome to BP. I have a property in Meridian, MS.

@Mike Shirley I'm currently rehabbing a property in Meridian and I'm looking for a General Contractor. I'm finding it to be a difficult Task.

@Johnnie Hawkins I recently ready a book called How Come This Idiot's Rich and I'm Not. Great Book!

@James Wise oh book, say it ain't so. I've watched his videos on YouTube. This is crazy.

What do you do when you have trouble finding a good contractor?  In the small town of Meridian, MS, it's been difficult to find a General Contractor.  Either they are all booked or they don't have an actual license or business registered with the state.

Investment Info:

Single-family residence buy & hold investment in Detroit.

Purchase price: $34,000
Cash invested: $3,500

This is an investment I went in with a group. It was occupied with a tenant at the time of purchase and the tenant continues to pays rent on time.

What made you interested in investing in this type of deal?

it required none of my time. I only need a little bit of cash.

How did you find this deal and how did you negotiate it?

There is a YouTuber I follow who coaches and provide valuable input Real Estate deals. This YouTuber started an investment club.

How did you finance this deal?

I already had the cash on hand from saving.

How did you add value to the deal?

No value has been added to date since the property was updated prior to purchasing and already had a tenant.

Lessons learned? Challenges?

I had no challenges with this deal.

Thank you.  

@Joe Funari  Thanks.  I will definitely keep that in mind.

@Tim Herman It's actually my mom's old house and it has no outstanding loan balance.  She didn't want to have anything to do with it anymore and wasn't renting it and didn't want to put any money into fixing it so I convinced her to do a Quit Claim Deed to my business. She did get the paperwork drawn up my a local attorney and filed it.  I appreciate you responding to my post.

Check out realauction.com or grantstreet.com.  I purchase tax liens in multiple states.