Columbus Oh Rental Property Purchased For 35K
(Get the Sub30k Private Video Collection To See The Video Demonstration For This, And For 60+ Other Real Estate Investing Training) This is an investment how to on how I qualify my property searches. This is why and how I use the internet to do my Leveraged Analysis Technique of finding properties working class neighborhoods (WCNs) This video demonstration will show how I focus on three Crucial Metrics 1) Searching the available Crime reports 2) Viewing the most Photos per MLS listing and 3) Noting average Rents for that address. I call this CPR for Crime, Photos, and Rents. Some people think its impossible to find affordable property and real estate in their region. Honestly, unless you live in New York (and even then I can still find something to invest in that’s reasonable), you can find affordable REI (Real Estate Investments) anywhere. In this property finder segment, I will have a full screen shot showing all the resources I utilize on the internet when conducting my property search. In the previous tutorial I went into detail the theory behind my strategy, and here I show you how straight forward it can be to find an affordable property market for real estate income.
I will show the strategy and logic behind how I qualify the houses. Since I focus on properties under 30k, I have to be extra selective about what factors I use to make this determination.
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62 Comments
I am looking at your podcast and they are excellent and exactly what I need. Thank you!
Thank you Joan! I want to give everything I have learned (and trust me, its been A LOT) to everyone who wants this information. If it makes it easier for you to get started if I share the good, the bad, and the ugly, I will be much happier with what I am giving back to people. And, no expensive coaching to get it, it will all be free 🙂
Hi Lisa! I am looking at properties using your methods but I find that I am nervous about taking the next step in buying a property under $30k. Suppose they don’t pay the rent? Do you think that it is OK to purchase a property that is maybe a one and half hours away from me? what about snow removal and things of that nature? Can I ask the renter to do that? How do I get over the jitters?
Hi Joan, I will do an upcoming posts on Getting over first time jitters, and trying to address your other questions!
well done!!!
Thanks you!
great info !! question- did you apply for the wells fargo home improvement
visa directly?
Hi, please send questions that don’t relate to the video to my email address. Its lisaphillipsrei@gmail.com
Another excellent how to video. Lisa provides the best advice that I’ve
found on the internet for investing in under 30k rental properties. I’ve
found her advice to be rock solid. My wife and I are preparing to follow in
her footsteps within the next few weeks. Thanks Lisa!
Another excellent how to video. Lisa provides the best advice that I’ve
found on the internet for investing in under 30k rental properties. I’ve
found her advice to be rock solid. My wife and I are preparing to follow in
her footsteps within the next few weeks. Thanks Lisa!
Great step by step video. The details are Much appreciated!! Keep up the
good work!!
Excellent video demonstration with very useful information. Your Leveraged Analysis Technique is a very powerful tool that I will incorporate into my evaluation of potential rental properties.
Thank you Larry! I’m glad its so valuable!
Wow. This was really Something else. The Only Thing that Scares Me is using
Zillow & those other sites to get the Comps
This was a awesome video. Opened my eyes so much and the websites you used are a blessing.
Thank you! Im getting emails saying its helped people all over the country!
Love the video. I was wondering how to find out about the crime reports. Great technique and appreciate you sharing the info.
hello,
You can search crimereports.com or spotcrime.com, or go to the local police department for that city and see if that information is online. If Its not, call down there and ask them the best way to get a 30 day or 60 day snapshot of the area. Thanks for your comments!
This was very informative thank you never would have thought of using any
techniques remotely close to yours that’s really thinking outside the box
Can someone from out of state come and acquire some properties and pay a
property manager and still get positive cash flow?
Thank you. I would like to do my first deal. I got 50k cash to invest but I
probably live in the wrong State for the type of deals you’re talking
about. I am in Santa Barbara Ca,. I am wiling to move if necessary. I
really appreciate your tips and info.
eh great video watching you from paris france
This is amazing! Thank you so very much for openly and clearly showing us your strategy, it’s so simple yet genius
Thank you Richelle!
Lisa: You’re really spent a lot of time bringing us your experience…
Thank you so much. I’ve watched a number of your videos. Great Stuff!
Thank YOU Dexter. I just want to help.
easy to understand,a very practical and no-nonsense approach to make
realestate investments! much mahalo from the 808 honolulu,hi.
Hey Lisa love your videos, my fiancee were looking for houses under 50k in
Milwaukee, WI but after watching you videos we will go lower but I have a
question. I’ve been aggressively paying off debt (literally 60-70% of my
money goes to paying things off). As it stands I have 20k in mostly school
debt left to pay off. My girl and I are in our 20s and together we make 2k
a year, should we wait until more of the debt is paid off or just go for
it?
20k is a manageable amount of debt. If you have a comfortable safety net, and income coming in, its okay to diversify at that point into stocks. Ideally we would all be debt free, but usually 20k of debt isn’t so large you can’t manage those commitments and add in another that can possibly earn you even more income. If it was larger, I would tell you something else, but….you can easily make this work. Take care, and good luck!
Excellent advice ,thanks for the step by step tutorial.
a lot of GREAT information. I didn’t know about rentometer… Good to know
🙂 when you purchase these homes, do you typically pay the entire 30k
upfront or do you finance and give a low percent down? Thanksss~ 🙂
Thank you so much for these videos, Lisa. This step by step walkthrough on
reviewing the crime reports was so helpful!
Thanks! You just make sure you let me know when you get your first one picked out 🙂
Great videos learning a lot about REI newbie ready to start
one house at a time, Daniel!
Lisa, thank you for pointing out the Photo count feature and Crimereports. This information was completely new to me. I did already use Rentometer but questioned how accurate it is. There was a discussion on BiggerPockets about the topic and someone mentioned http://www.padmapper.com which pulls data directly from Craigslist with the link to original post. I just wanted to share. Thank you again.
Thanks Anna! I hope everyone reading this adds this tidbit to their arsenal – it all needs to be used to get the right perspective about the potential investment property.
Im ready lets do this lisa
Great Video!! I have to add this to my favorites!!!
Awesome video, I learned a lot. The Crime watch tip was great. Thank you so
much!
I use SPOTCRIME.com a bit more now. It gives a little more accurate info. The available crime stats will only get better in the future!
Good Stuff! Thank thank you.
i AM SO IMPRESSED BY YOU. THIS IS THE FIRST TIME I SEE A YOUNG LADY SO
PRECISE AND FOCUSED. THANK YOU SOOOOO MUCH . YOU ARE SUCH AN INSPIRATION TO
ME. I AM A 70 YEARS OLD LADY AND WANT TO START MY REAL ESTATE CAREER.
Thank you ma’am! You’re not the first in your position who wants to put their money to work for you at your age, and you’re definitely not going to be the last!
Is it better to use a Non Profit to start the Investing Biz ?
Lisa, do you travel to the different cities or do you invest online?
I travel to other cities. I mention this in a few of my videos. Check out videos 2 and 3.
Thank you.
Nice love it !!!
Amazing!
Do you look at the age of the house? and how do you decide how old is too old?
I prefer, of course, a newer homes are well constructed and generally easy to DIY repair than older homes. However, in the lower price ranges, unless its a foreclsoure, you’re usually looking at 60 year old homes. That’s not bad at all, really. I’ve rehabbed a 100 year old home – its okay, and very doable.
Loninta, thats a good question. Is it better to be a non profit or LLC
I would not want to use a non-profit, the bit I do know is that there is a lot of outside/third party accountability and auditability that is needed, as well as filing requirements. AND, I’ll take it a step further, as I am doing LLPs more and more now vs. LLCs.
This is great wow! You’ve been lied to me about websites that I’ve never
been used before. Rentometer, crime reports, etc. This was so helpful to me
and it’s going to make my search a lot easier thanks again.
Great video! I’m so ready to get started. Ready to see the Bmore video.
Lol 6:14
Thank you for the video Lisa, you gave a lot of information. I live near
San Diego Ca, about 20 miles away and prices are very high compared to the
wages here. Going out of state to buy has been in my head for a while and
after watching three of your videos, that is what I will work on.
Nice! I have helped 3 of my one-on-one clients with investing out of state. Once you get the fundamentals down, its really straightforward. Email me if you need more help.
How do you manage all these properties in all these different states? Are
you just constantly traveling?
heck no! I haven’t been a couple of these in about 2 years. I have property managers. Do a Property Manager search to see my videos on it! Its a great resource, but there are some tips to help you along the way.
How far back does the crime report go, 1 month, 2 or 3 months?
Thank you Lisa!!!
I am so grateful to have found your website. I heard you on The Best Real
Estate Advice Podcast. You are a blessing. I feel like I can really do
this.