All Forum Posts by: Alex K.

Hello everybody,

I’ve done all the reading and practice analyzing deals and I am finally comfortable to start taking action. Because I don’t have any money to throw at marketing yet, my plan is to drive for dollars and write all personal letters to distressed properties that I see in my specific market. I feel like personal letters are the most impactful, yet I fear that homeowners will be offended by me reaching out asking them to buy their house? Has anyone felt this way before?

Hello!

I recently signed up for a real estate investing coaching program through my local REIA here in Connecticut. I am considering requesting a refund for my down payment on the program for a number of reasons:

* There is an abundance of information online regarding real estate investing
* There are numerous networking opportunities available to learn from others
* I am extremely self motivated and have been taking small actions on my own already

My main fear of not moving forward with the coaching is missing out on information that I do not know about my local market and making mistakes I could have avoided. In addition, this real estate journey will be a joint venture between my wife and I. I would hate to act like I know what I am doing and provide her incorrect information.

I kind of know the answer to this but I am curious to know your opinion. Maybe some of you have been in the same situation?

Thanks in advance for any feedback!

-Brandon

I posted an ad on Craigslist and I had an investor reach out to me and tell me that he is looking for wholesale deals in the area that I live.

Upon further inspection via White Pages and LinkedIn it seems that he is legit and in my area but how do I know for sure? Are there any questions that fellow wholesalers on here ask potential buyers before working with them to screen them?

Thanks!

I've been thinking what people would do (or rather, what's the best thing to do) when they receive a lump sum of money for whatever reason.

Would you...

1. Pay off your primary residence (90-100%), and invest the rest of it in rental properties.

2. Pay down payment (5-20%) to get your primary residence, and invest the rest of it in rental properties.

3. Rent your own place, and invest the rest of it in rental properties.

I'm suggesting rental properties because I'm a buy and hold investor, but do you have any other thoughts in mind? Let's hear it!

I have an off market property that I have been working with the owner for the past year. The property was left in her name when her father passed away. He had several liens against the property that she has been able to clear up, however a few still remain.

I have negotiated the aquisition of the property for 80K (worth around 130K). I have been acting as a property manager for her and been able to get this property rented and cash flowing. I want to purchase this property and keep as a rental (fantastic area, everything updated).

I have a few things going against me right now & I want to get creative in order to aquire this property:
1. Currently finishing a large rehab project and leveraged a lot of my own credit in the past 24 months. My credit dropped from 720 down to 615 (debt / income, no late payments).
2. I do not have 80K cash to purchase this property so I need to find a way to finance this, however my concern is my credit will not allow me to do so. I have about 25K that i could be toward it (equity from an existing rental)
3. Would a lender be ok with a property with liens against the title; my guess would be no.

Please let me know what other information is needed & what options i may have?

Thank you very much!!!!

Hello,

The story: my friend has a house that she wanted to rent out. She was afraid to do it by herself even though I told her I will help to manage. She hired a management company. Everything was fine for a few weeks. They charged her $600 addition to the agreed fee for removing garbage and mowing lawn. Then, next month they charged over $300 to remove some wire in a house. They never contacted her to discuss this "repairs"

She is breaking the contract with them and I already agreed to manage the house for her. My question to the experienced property owners that hire property management companies and management companies owners - how can a management company charge that much without even communicating expenses with the owner. Was this an exception or this is a rule?