Brian Trippe invites Paul Latham on the show to talk about his real estate ventures, which were coupled with additional business ventures before he went to real estate full time. Listen in to hear Brian talk with Paul about his experience, numbers, and marketing strategy.

Key Takeaways:

[1:45] Paul shares his story of how he got started in the real estate business in 2009. He began looking at apartments, but then shifted his focus to houses.

[6:24] Paul explains the benefits of coaching to get his start, and how helpful it was to have someone take a look at the properties with him, to get an idea of what would be a good investment.

[8:00] Paul shares his advice on how he got as many properties as he could, and how new investors might go about purchasing their properties. His approach allowed him to remain debt-free and leverage-free on all the properties he owns.

[10:45] Question for Paul: How did you first understand numbers, and how important is that to real estate investment? His experience comes from his prior involvement with his business.

[13:03] As he gains more experience, Paul has begun doing more fine-tuning on houses. While there’s a little more money spent up front, the fixes are likely to last longer and increase value.

[16:16] Paul talks price points — if you’re a new investor, listen in! These prices give a good idea of the kinds of deals wholesalers are looking for. Brian and Paul talk about specific areas and good price points in those areas.

[20:20] Paul uses property managers for all his houses. As he gained more experience, he’s learned how to manage his property managers. This involves increased contact between both parties.

[24:51] A major topic that has come up between real estate investors is contractors. How do you go about finding a good contractor, especially if you’re new?

[28:23] Brian talks with Paul about his marketing strategy, and how he goes about finding his own deals.

[31:35] Realtors may not be the best bet to find a deal. Paul’s best method has been signs and postcards. There may be a cost if you pay someone to put up a sign for you.

Mentioned in This Episode:

How to contact Paul:

Email: [email protected]

Phone: (205) 994-5051

Jay joins our host Brian Trippe to talk about his experience in real estate. As a relatively new investor, Jay shares his background of getting started, and what strategies he follows, as well as some specific number goals he looks to gain in his properties.

Key Takeaways:

[1:17] Jay shares his business and personal background, and how he got into the real estate business.

[3:30] Question for Jay: Where did your penny-pinching mentality come from? How did that influence your decision to get into real estate?

[6:06] Jay talks about how he landed his first deal, and the background work before it came to fruition. A lot of research was involved before the idea came to fruition — take advantages of your resources!

[8:41] Question for Jay: As a “numbers guy,” how much did that knowledge help you? What kind of numbers can our listeners crunch? Jay encourages simpler decisions and processes, for better and more consistent decisions, as he talks through some critical ratios.

[12:10] Brian and Jay talk about certain areas they gravitate towards, and why. There are many different criteria to consider, depending on what your finals goals are.

[14:25] Brian asks Jay to explain his strategy when it comes to his real estate goals. He talks the “BRRR Strategy”: Buy, Rehab, Rent, and Refinance, and about its banking aspects.

[19:35] What does Jay suggest for establishing a relationship with a bank, and who would be the best person to approach about getting the money you need to get started?

[21:44] Jay talks short-term, mid-term, and long-term goals for his current real estate strategy.

[24:00] Jay shares his advice for going into the real estate business. He suggests a two-fold approach: a practical approach and a good mindset.

[29:05] How does this real estate venture factor in with Jay’s corporate job and long-term professional goals?

Mentioned in This Episode:

Rich Dad, Poor Dad

The Richest Man in Babylon, by George S. Clason

Bigger Pockets

THE MILLIONAIRE REAL ESTATE INVESTOR, by Jay Papasan, Gary Keller, and
Dave Jenks

To submit a deal to Jay: [email protected]

Gary Boyd joins Brian to talk about investing through tax lien real estate. They discuss specific tax sales in the Birmingham area, as well as the effect of outside corporate investors, and what current policies are in place. Listen in to see if tax lien real estate is the niche for you!

Key Takeaways:

[1:19] Gary shares his story of how he first got into real estate, and how he got interested in this particular niche of real estate. He first went to work for the Jefferson County Tax Collector’s Office, then eventually, the Land Redemptions department.

[4:45] After learning the property tax lien business from the governmental side, he started his own consulting business, and began to work for attorneys and individual investors.

[6:21] Redeeming the property: There is a perpetual lien attached to every piece of real estate, and to remove the lien as a property owner, you have to pay the annual tax. There is a three-year redemption period where the owner can pay the money and redeem the property and remove the lien.

[8:20] Gary talks about tax sales, and how an individual would go about buying real estate there. The goal of the tax lien investing aspect of real estate is to get end prices low, and the risks are very low because it’s backed by the local government.

[12:19] Gary talks about the benefits of having multiple “hooks in the water.” If you have multiple low-cost investments, the opportunity to get a bigger return is going to increase.

[14:56] What does this mean for out-of-state investors? Brian and Gary discuss the investment benefits and ramifications.

[18:09] Brian inquires about local tax sales, and how you go about bidding. Who gets to bid first? Gary shares some information about tax sales in specific areas.

[21:21] More in-depth conversation about where, how, and when you can purchase a tax lien certificate: the local tax sale, apply to the state of Alabama Department of Revenue, or from another investor.

[25:25] Corporate investors typically tend to snatch up the tax lien certificates in the best areas of a town.

[27:03] As a new investor, it would be in your best interest to seek some help or outside information, before you get started. Gary shares his personal information and how you can contact him to get some free information about real estate and tax liens.

[29:10] In Alabama, there are some new laws being talked about concerning this industry. The current 12% interest rate, as well as some of the terms of the tax sales, could change.

Mentioned in This Episode:

Gary’s Website

Gary’s Phone Number: (205) 281-1587

Alabama Department of Revenue

Clayton Mobley of Spartan invest joins Brian Trippe to talk about how he got into the turn-key business. During the interview, he shares his story, and also offers advice on what they look for in a property, how to make an offer, and their company goals and policies that make them investor-friendly.

Key Takeaways:

[1:41] What does Clayton do in his work with Spartan Invest? How does their full-service turn-key system work to provide good customer service to the investor?

[4:30] What does Clayton look for in a property to buy? They specifically look for properties in certain areas, as well as what will be a good deal to make a profit after the renovation.

[8:15] Clayton shares the hot spots where Spartan Realty generally buys properties. They are very easy to work with, especially for wholesalers.

[11:05] Clayton shares his story, from the time he graduated college, to starting Spartan Invest. How did he get into the real estate business, and why did he choose the turn-key business?

[13:45] How did they decide to transition from a fix-and-flip system, to a turn-key company?

[16:55] What are some of the goals for Spartan, as we move into 2017? Clayton shares their goals, as well as gives some insight into some of their company values.

[19:14] Their upfront effort brings down the investor’s long-term maintenance calls. The sustainable long-term building materials really help to benefit investors. All of this helps their goal of long-term tenants.

[21:55] Brian does a small recap of the aspects of Spartan that appeal to new wholesales.

[24:08] What other stuff does Spartan look for? In addition to properties, they are always looking for contractors — especially electricians and plumbers.

Mentioned in This Episode:

Spartan Realty

Spartan Invest

Alabama Rental Property

To submit a deal: Michael Bryant  (205) 393-5713

Bigger Pockets

1 - 877- WE BUY HOUSES

Joe Turney joins our host Brian Trippe, to talk about buying and rehabbing properties in the Alabama area. He shares his story and the ways he found success, both by buying houses for rental properties, as well as fix-and-flips. There is great advice for newcomers on how to get started.

Key Takeaways:

[1:21] Joe shares his story and how he got into buying and rehabbing properties. His new venture in real estate has provided much more, financially and personally, compared to his previous corporate ventures. He feels that anyone who puts in the hard work can also be successful in this venture!

[5:00] What happens at the very beginning? Where do you get your deals? Joe shares the practical steps of where he starts to find a property to rehab. You can look into what properties are for sale, and also gather information about them.

[8:43] It does take an investment of time, but it is something that has to be done, if you want to find success.

[11:40] Once you’ve found a deal, what happens next? How do you decide which ones to flip and put on the market, and which ones to keep as rentals? You have to consider the property’s amenities, as well as the budget.

[14:40] How did you get started with your bank, and building portfolio loans? Joe has found that using local banks that don’t require third party involvement, is a good place to start. Open communication, and asking the right questions, is crucial to finding a good bank that will work with you.

[18:42] Joe explains about what a portfolio loan is, versus a Fannie Mae. The difference has to do with what guidelines might restrict you, as well as the possible involvement of a third party.

[20:42] While Joe originally got into the business to gain a rental income, he was eventually forced to get into the flipping business. This has actually proved to produce a greater profit. Joe shares some of the numbers and procedures involved in his current practice.

[27:45] Joe and Brian talk about doing business with wholesalers, and how that affects the project. How do you define an amateur wholesale?

[30:03] In terms of fixing and flipping, sometimes the middle work can be the hardest part of the project. Joe talks a bit about how to find a contractor, and ensure they’ll do good work at a fair price.

[35:07] Developing a good relationship with a contractor is really important. It takes time to build this trust.

[38:10] Joe talks about the adventure of going to auctions to find properties, and advice on how to tackle auctions as a newcomer.

[45:13] - Joe talks about how his work can benefit investors.

Mentioned in This Episode:

Realtor.com - can check your Local market

Zillow.com

Trulia.com

Contact Joe at: [email protected]