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Updated about 8 years ago,
Questions to ask Homeowners? Line em up Ill knock em out the park
Hey BP,,, here we go.
I've narrowed down my market to a small specific zip code, (33967 about 8 sq. mi.) ((San Carlos Park Fort Myers Florida)) My plan is to act like I am going to buy a specific house. One at a time. Analyzing my way through multiple properties in said area. This is to get ready to actually purchase a 4bdr SFH for college rentals, with a possibility of STR (air bnb etc.) for the nearby Sports arena (Germain Arena)............. {{When I say "act like I'm buying a house" I mean as far as my mindset goes, not acting on false pretenses}}, moving on..
I'm looking for pointers or specific questions to ask homeowners, everything from Basic to Brilliant. To be able to narrow down my priority markets to specific communities and streets. Like, lets say your favorite 2 questions, and 1 thing to watch out for.
Without further ado. here is my plan thus far... If you wanna steal it go for it, its unproven.
1. Start calling homeowners with homes for sale (off market) and pull data (HOA fees, neighborhood info etc.) Thats what I need you people for. I'm not sure how to get the most value for my time from that yet.
2. Get in touch with pre-foreclosures (Knock on the doors while driving for dollars and recon.) Offer to help them rent out rooms to help keep them in their house. (to get experience, and good karma, not really for money). Its already a sinking ship, worst case scenario for them. (allowing me to just get started w/o spending endless time analyzing how to buy the house, because I don't want it, i want experience and karma.) Plus be able to get first hand data on how well I can fill vacancies and how much cashflow I can bring in. (Legality?? Like I said its worst case scenario, I don't want to be dragged down by good intentions) There's more to it than just that, but for the sake of brevity, We'll stop there.
3. Walk inside and around ALL the 3bdr and 4bdr for sale between 160k and 225k (roughly) so that i can gauge the market further.
4. Get lists, starting with probates, absentees, and lis pendens. Also all the pre-foreclosure people I would have already talked to. For the actual purpose of buying MY investment property (4bdr live in) I have financing mostly lined up but its not relevant to this post.
5. Wholesale just as a bonus, while still looking for my own.
5.5 Teach Homeless people how to get rich.
6. Become a multi Billionaire.
So finishing up, thanks for reading this far....
Here is my Question, I mentioned it in the beginning. "What questions should I ask homeowners in my area to get a better feel of where I want to buy my own property, while showing them that I am there to help."
Last follow-up details.
I have 24/7 to devote to this (after a quick family emergency). My Stock picks in the stock market have exploded. I've sliced off enough capital to easily float 3-5 months with no job. (being frugal that is).
I am going to be busy doing something at all times, if you don't lemme help you, I'm helping someone else.. No scarcity mindedness around here.
I want to have an all-star network lined up and a wholesale deal completed as a proof of concept, by the time I run back to the rat race (to an even better job)
Wish>> More than anything at all though. I know for a fact (in my mind).... I would be amazing at acquiring and "re-positioning" commercial properties. Forced appreciation and so forth. I'm ridiculously creative and that is where my talents will be at the highest and best use (For now). Not looking for a job or immediate partnership, just an interview where I can say "Hey", and Wow your argyle, gold toe socks off. I understand its the proverbial running before you walk.. but so what? I'm allowed to dream.
Last thing. Im starting a road trip literally right now for the family emergency stated above. Can you help keep this thread alive? Talk amongst yourselves. I appreciate all advice and welcome everyone to throw in their 2 cents. It might even be worth more???
Thanks, cheers, god bless and all that fun stuff.
-Johnson