Welcome to your Journey TuskegeeRentals Online Course!

If you are new to real estate and wish to purchase an investment property to start earning passive income, then my online self-paced course is for you!

• Not sure where to start? Then my online course is for you! 

During this online course, I will cover many aspects of owning rental property, including finding a property, estimating rent, checking the numbers for your Return On Investment, and more.

• Please note that you will not learn how to do zero down investing in this course, that is not something I cover.
• Also, note that this is not a get rich quick scheme; there are no short cuts, only hard work, and perseverance.

Additionally: I am not a licensed attorney, real estate agent/professional, or accountant, and I do not claim to be one. I do not represent myself as possessing expertise in legal, real estate, or financial matters. It is crucial that you conduct your own due diligence on any and all financial or real estate matters. By enrolling in my online workshop, you acknowledge and agree that the information provided is for educational purposes only and should not be considered as professional advice. I strongly recommend that you seek the advice of qualified professionals for specific legal, real estate, or financial concerns. Your decision to enroll in this workshop indicates your understanding of these limitations and your commitment to conducting independent research and seeking appropriate professional advice as needed.

HOW IT ALL BEGAN
In early 2018 on a rare snow day, I decided to purchase my first rental home in my adopted hometown of Tuskegee, Alabama. After shopping around for a few months, I decided on a 2,000 square feet 2 story home with three bedrooms, three bathrooms, a kitchen, dining room, living room and sunroom, and a fenced back yard.

I had no idea what I was doing or getting my self into, but I gave it a try anyway. I now have two rentals and am actively looking for the next rental property. My story and techniques are specific to Tuskegee, Alabama, which is a rural college town, but with lots of students looking for a great off-campus place to live. Most of what I learned about finding and screening tenants, creating and signing leases, and managing properties I found on the Internet. Still, I also had a colleague who was renting properties. Then I made another new friend who had been renting properties for years, and I asked her lots of questions! I asked my contractor, electrician, plumber, and real estate agent lots and lots of questions. Everyone on my team was very supportive! You must surround yourself with positive people who support your endeavors.

Some people I know thought I was crazy until they finally realized that, despite my lack of experience, I am, in fact, making it work somehow.

Since I started on this journey, I have had lots of phone calls from other folks who are interested in purchasing properties, renovating them, and then renting them out. I am now sharing with you much that I have learned.

It’s great to look for a house that you can get at a bargain and flip into a rental property. Bear in mind the majority of properties in Macon county Alabama , which are a bargain, will need some renovations. If this is your first property, that’s a great place to start, but only if you have a great contractor and your team assembled.

The best type of property I think to purchase for this market is one with at least three bedrooms and two bathrooms. Or a property where you can add a bedroom right away or in the near future. A two-bedroom house will generate income, but not as much as a three-bedroom house. Adding a bedroom not only increases your resell value but often pays for itself if you are renting out the property by room. 

Plus, adding a bedroom costs less than a kitchen remodel, and it can be argued that in college student housing markets, it also has a more meaningful resell value impact. If you find a two-bedroom house, make sure it has two bathrooms or be willing to add one. Bathroom additions generally start in the $4,000 price range due to electrical and plumbing work, which must be done.

You will need to have a contractor who does quality work, make sure you don’t pay too much to renovate, which is why you need to do your homework! Crunch the numbers and make sure you make your initial investment back within 3-4 years.  

Or you can instead look to buy a home that is priced at market or above and needs only minor repairs, locally something in the $50,000 - $60,000 price range will only need minor repairs. Houses in the $5,000 - $30,000 are going to need at least $20,000 in repairs. BUT AGAIN - do your homework and crunch the numbers.

UPDATE 2023

Over the years, I have acquired four rental properties, but I have recently scaled back to two, with one currently on the market for sale. The properties I sell typically include tenants who are already paying rent, creating a turnkey scenario for the new owner. I have chosen to downsize my current rental properties because I find myself increasingly drawn to the rehabilitation of older homes rather than the day-to-day management of rental units. This shift aligns more closely with my evolving interests and allows me to concentrate on the transformative process of restoring and upgrading properties. My current focus in 2023 is on rehabilitating homes and leveraging my passion for this process. Additionally, I have plans and acquired land to embark on the construction of tiny homes and shipping container homes in Tuskegee.