All Forum Posts by: Alex Talcott

Consider selling?

Messaging you. I'm an investor-attorney bullish on Missouri.

 or, if you want property in Southern Maine, I'd be glad to discuss where/what I'm looking at. You're welcome to message me.

I see hiring people as costing nothing in the mid-term and beyond. Makes us money.

As busy as my lawyer-entrepreneur brain can be most times,

I do appreciate the "can you" and "should you" thinking-advising.

@Finn Bernard are you looking to live in Massachusetts?

The economics can be fun or frustrating. Some geographic markets don't require or you can't find 1%-rule, others -- if more stagnant in population in income growth, and depending on property taxes and utility costs -- require 2%+ for likelihood of cash flow amidst rising interest rates, inflation, and workforce shortage/uneager labor.

Alabama was my first and is a favorite for all kinds of investment.

On acquiring a property by tax deed, which I've done, the cons I'd caution of are three--

1)  not overpaying:  This may seem quite basic and obvious. But I've seen people in a live auction setting, if that's how yours are conducted, get a little excited. There's an energy and a pride to a public auction, which is why they do them that way, to drive price. Don't get caught up in the hoopla. Stick to your budget going in, or at have a trusted person with you to to help think through whether new information or other rationalization has you inclined to bid more.

2)  value your time:  On an individual deal basis, I see people who are attracted to time freedom via real estate/cash-flow/passive-income sinking an awful lot of time into evaluation and pursuit and monitoring and decision-making. If you are putting time into a new or improved approach to your real estate business, consider whether a) you bet it'd be a method you're likely to repeat in the future--worth the learning, b) even if a one-off, you're looking at a steal of a property by your business plan or vision, and c) if there's a fun factor to it, that's fine/just be honest with yourself and factor that into a discounted calculation of if or at what cost to do it. Depending on where the auction or other process occurs and where you are, factor in travel costs in addition to the hours.

3)  property owner history:  'Is it the property or the person?' Figure whether someone defaulted on their property taxes more because of their personal circumstances versus the land and any improvements being a dud. It may just be a city/town getting around to selling long-held property, going for those missed opportunities to collect some property taxes--expanding the tax base, maybe with a third-party auctioneer doing it for/with them.

Minnesota may be the most populous state where I do not personally know anyone to have invested.

or a truck or a van guy

I'm looking at purchasing 1-3 vans of the Ford Transit type to support property management, construction, furnishing apartments. Up to this point, we've gotten away with personal pick-up trucks and U-Haul rentals.

A friend recently went with a RAM ProMaster. I also see Mercedes Sprinters. And today I walked by a Nissan variation. And there's Chevy...

What are pros and cons of these and any others?

Welcome, Lisa.

I'm organizing a real estate investing conference in Vegas this October with a couple other operators.

Happy to have you