All Forum Posts by: Andrew Halbert

pm me and I can take a look

@Raina Wells There are numerous podcasts and blog posts that cover this question. 

This is to broad of a question to answer in a single post.  To many variables.

What are you short term/long term goals?

How much cash do you have?

What is your risk tolerance?

Hard money, private money, crowdfunding... etc..

There's no one size fits all answer. 

Send the notice to quit, take the partial payment. 

Proceed with eviction unless they pay in full. 

Charge all applicable late fees.

Came across this nice matrix which spells out conventional loan requirements in plain English.  Figured I'd share.

https://www.fanniemae.com/content/eligibility_information/eligibility-matrix.pdf

I physically visit the neighborhoods I am targeting.  In the Metro Detroit surrounding cities it's critical to know the local neighborhoods.  Things can be worlds different block by block.  

I don't have a good answer as to know "when" to buy distressed property, I think that depends on a lot of factors.  What do you mean as best time?  Are referring to the time of year? 

 At this point I am sure he's also got the wallet to be able to do that.  Full rehab system in place. 

Dude is a pro. 

@Sheldon Alex 

I am very risk adverse at this point in my life, so I can't fathom making an offer without a full walkthrough.  In fact I am going through a property for the second time this weekend.  I have a good agent, so all my offers are prepared by her.  My wife is also my business partner so typically I will walkthrough a house first, then we'll go again together.  Some might say I am wasting time, ohh well. There will always be another deal.  My goal right now is to be conservative and consistent.  We are very careful not to over extend/over leverage ourselves. 

Listen to the podcasts and you'll see how many guests Brandon and Josh have to still use MLS for deals. Personally I specifically look for properties that other investors may have passed up. Yes great deals are rare, but not as rare as you think. Of course it depends on your specific market. I like MLS, because its a cheap easy way to get listings sent to your inbox.