All Forum Posts by: Angie Williams

Amazing job on your first deal, and what a great profit! I wish you many many more. 

Did you mention you found this property on Zillow? I'm easily on zillow for hours on a weekly basis researching and browsing, I find it to be one of the the best free RE sites that one doesn't have to pay for or be a RE agent.

@Codi Clausen Basements with full potential or Finished basements have always been a great selling point for me and in the areas I look in. But, there are certain areas in NY since Sandy that did not and would never rebuild with basements. These specific areas if the home has a basement,most stay away from buying it, unless they are interested in a indoor underground (literally) pool when it rains. Anywhere in flooding areas with basements are an absolute turn off for buyers. But otherwise, I personally think basements are a selling point. Although, referring to the word “basement” could be very broad. They come in all different sizes and conditions. But if the basement space is ideal, then the sale will be also.

@Garhett Langer Garghett I understand and admire your concern for the family living in a property you just bought. I only buy foreclosures also and have dealt with many cases of squatters from the worst to worse then that.

The first time I experienced a home owner turned squatter refusing to vacate the home, I initially felt so bad making her and her 4 kids leave. She was 23 years old and made my partner and I believe she was leaving every other weekend. Well, cut to 8 months, thousands of dollars later, and finally a sheriff eviction. That day she was evicted she was by herself in the home, no kids just her and her bags of heroin and a needle sleeping on the floor.

That was the last time I had to stop felling bad for these unfortunate people who lose their homes. She did nothing but lie constantly saying she was leaving, she ended up losing all 4 kids for her drug addiction.

Remember...this is a business and your tenants are your employees. If your business can not run and your employees can not rent to provide you a income, naturally you stop feeling bad and for others could have prevented their circumstances and start to feel bad for your wallet. It sucks but get-use to it if you continue to purchase foreclosures. Cash for keys is my best tactic.

Good Luck!

@Shayna Hatcher I have had two tenants in the past with felonies from years back. It didn’t justify to me who they were today. I took a chance and rented to both of them. First tenant rented for 4 years and the other tenant right before him rented for almost 5 years. I never held their felonies against them and they were pretty significant charges and the jail time they had did many years back. I respected the fact it was one of the first things disclosed to me when we met, when most I believe would lie just to have a place to live. Again, I took a chance!

Overall, both cleaned up their lives and pasts, both were in construction unions in NYC and made great salaries doing so to cover rent, always kept their apartment clean and around the property maintained when wasn’t even in their lease. But, more importantly they were two of the BEST tenants I think ever had. I have had more destruction and stress with tenants who have never even had a speeding ticket then I did with these two tenants who most people wouldn’t even consider them to be their tenants.

Moral is, you can do all the background checks, credit checks, look at pay stubs and accounts till you think you found the golden tenant from heaven. Although, reality is with all of the information you thought would score you the best tenant, could be so far from who they really are and who you just rented to, all based on documents you spent hours looking over. You will never really know who you rent your property to until you actually rent it to them, because their is no background check for double personalities, hidden anger issues, spiteful intentions, or who someone becomes when there angry or upset.

I had another tenant, a woman with an amazing job, high education, credit better then mine, was very clean, we knew mutual people in the neighborhood, the worst ticket she had was a parking meter ticket..Anyways, I thought I found the greatest tenant in town. That was until it was time for her to move, I had decided to sell b/c the market was in my favor. Well, needless to say she wasn’t that happy and didn’t want to move after 3 years and turned into the devil tenant.

Her clean criminal background check didn’t s help her spitefully from stop her paying rent. Two to three months right before she had to leave her amazing job didn’t stop my electric bill from being so unusually high my electric company even contacted me to have my home checked out by a professional electrician for anything faulty. Her 740 credit score didn’t stop her from avoiding my phone calls and cursing me out every time we spoke, her dual masters degree didn’t stop the filth she intentionally put outside my house with cigarette packs and junk all over the front yard. Yup!! That was when I realized she was the best tenant on paper and in all my background checks, but one of the worst tenants till this day in person.

@Ryan Paltridge please check your messages, I Messaged you my intentions being new to the Jersey market. Thanks!

@Ben Leybovich I was a realtor before an investor. I still have my license but I am not active. I do use the resources I have for my own benefit. Personally, and seeing I was RE agent and still hold a license I can honestly say, I try to stay away from buying with agents involved at all costs. Although, when selling its more convenient because of the resources that help to sell my property of home.

@Axel Ragnarsson @Axel Ragnarsson “Always buy with your exit in mind” That’s a great plan you mentioned that many people fail to do. When I buy a property I buy with the thought of me selling it first. I research the if or how I would make a profit, even if it’s not my plan, its what i always think of prior to buying. It’s a great strategy for when you do actually sell even if it’s years from now, you sorta know what to expect in terms of overall gain. Great point!!

If you had a little over $100,000 set asdide that you wanted to invest into something that would profit you, what would it be? Real Estate, Stocks, Mutual Funds, REIT, etc.? Curious how others would take this amount of money and make a profit off of it.

I have had both Property Shark and Geodata in thr past. im looking for any opinions on which you prefer? If not thesd particular sites, any suggestions on other sites very much similar to these woukd be great. The are costly so I want to subscribe to the best one. I may have to raise the rent in a couple of units to afford the monthly subscription. But, I believe it’s well worth it. Im j/k about raising the rent, although I wish that was a viable reason to do so lol.

@Joseph Clark honestly non! Credit cards are Americas bIggest fInancIal downfall into debt. It’s lIke a magIc trick, one minute its there and you have It all on thIs lIttle pIece of plastIc then POOF Its all gone. leaving many people who have never been properly taught how to save and handle money. I made that mistake in my early 20’s one weekend down at the jersey shore. This doesn’t pertain to you. But I always say if you don’t have the money to spend, then don’t charge it, and if you do have the money then you don’t need to charge it. If so, id get a card that gives benefits while spending, if you vacation a lot get one for frequent flyers, or cash back on purchases or points back. I basically always use cash or my chase credit/debit card. Happy swipIng :)