All Forum Posts by: Paul Amegatcher

Evictions are filed under writ of restitution and tax delinquents are usually classified as Mortgage foreclosure as well.

All buyers have different criteria.  So you need to make sure you interview your buyers before you send them properties.  Some of the sample questions to ask:

1. Which areas do  you buy in?

2. What kind of properties do you look for? ie 3bd/2ba/2garage

3. How much rehab are you looking to do?

4. What kind of profit margins do you look for? ie 30K profit per flip or dont call me.

Those are a start for catering different properties to different buyers.  Hope this helps.

Paul Amegatcher

It's a little more complex than that.  You have to look at the last sale date, the last purchase price, the mortgage(if any) recorded,  the current property market value.  These few things can give you an idea of how much equity is in the property.  You could also purchase lists online that have that criteria built into them.  Listsource and flipthisrealestatelist have those criteria. 

I have gone with both.  I would stay under $2/sqft. They tend to last a lot longer than carpet.  I know another investor that goes with ceramic tile just to make it renter proof.  You pay more up front but its harder to destroy.  My opinion on rentals is to go with as much hard surface as possible it saves you more money in the long run.  Good luck.

@Adam Soyak

You need to use a private lender who makes their own lending rules versus using a conventional lender who has to follow fannie mae's rules.  See the response from @Jerry 

@Jerry Tuzilundefined

@shane

Submit your bid and see what happens. The worst thing you can do is to over think what the seller will do.  If they take your offer great if they dont resubmit it in another week or two.  Just make the offer on what your numbers tell you irregardless of what you think the seller might take.  Hope this helps.

Paul

Try to contact your local Real Estate Investors Association. My local REIA always has a $150 class on rehabbing 101. It includes deal analysis, finding contractors, estimating rehabs, etc etc. It is a great class for any newbie that wants to get into real estate because it is hands on. It also includes a field trip to look at several properties on the market. Its the best $150 ever spent.

You should look into one in you area.  Also read the sticky post in the wholesaling forum.

Paul

Make sure you bring a copy of the 3-day notice to vacate (or whatever day notice your state requires) .

You may have to use the right terms before some courts will evict.  In ohio some courts require you to state the following:

"My name is Paul Amegatcher. I am the owner of the property located at 123 Main St.  The statutory notice was served prior to the eviction process.  The tenant has violated their lease by not paying their rent for may and june 2016.  I ask for restitution of the premises" 

I'm not sure what is required in you state but you may want to go sit in court next week before you have to be there so you can get a feel for how the process goes.  I will talk to an attorney or other experienced landlords on what to expect as well.  Good luck.

Paul Amegatcher

@Tiese C.

This will be the best $200 you have ever spent. Trust me this workshop will give you more insight than anything that you read on the forums. Education is key to success in any business venture. My REIA offers the same workshop and its very beneficial. Will this workshop include a field trip to REO properties? Good luck to you.

Paul

@Dave Toelkes thanks for the info.