All Forum Posts by: Anthony Micklus

Go anyway. All seminars are beneficial to some degree and you can usually glean something new you didn't know before. You don't have to buy their product. The REAL value in attending REIA meetings is the networking opportunities. Any REIA meetings I have attended will always have an opportunity before and/or after the seminar to network. Bring some business cards and build some relationships with the other people.

Hi and Welcome to BP. I am an investor in Vermont. I have gone to the CTREIA meetings in the past. They are a good bunch of people maybe I will see you down there sometime. 

Oh also to add. I don't own the land I have to pay a lease fee every month and I am responsible for all the property taxes on both the land and the house.

I actually live in a Land Trust property as my primary residence. If it is anything like mine there are lots of restrictions. For example in mine. I can only rent the property out 6 months out of the year or to a family member. I can't cash out any of the equity unless it is a reason that is approved by the land trust. They also will take 75% of the appreciation of my property when I sell. Every Trust is different but if it is anything like mine I would stay as far away as possible from it. 

I signed up for the RE pre-licensing course in April. I will still need to take the test after that then I need to find a broker that will have me for the next 2 years.

As others have said everyone has their own tolerances. I live in VT so I KNOW what you mean by high property taxes. I base my evaluations on cash flow more so than the 50% rule just make sure you take into account all the variables. Two common ones people forget are vacancy and maintenance.

I would echo the other people who have posted. Obviously something has changed in her life to make her not want to sell. I would try and find out what it is. Maybe it is something that can be worked out. Remember your reputation which is important in this business. Is the deal that good where it is worth the bad blood that may be created going through this? If I was in your position I would agree to release her from the contract if she agrees to reimburse you for your out of pocket expenses in addition to your earnest money.

Of the 4 I only made an offer on 1. I had given him a cash offer which he rejected then I made a higher lease option offer which he also rejected.

My experience with marketing for properties has shown no response from my website but I did get quite a good response by placing a "We Buy" ad on Facebook. Facebook ads are relatively cheap. You can determine how much you want to spend per day on the ad or for the entire campaign the more you pay the more often your ad will show up. I only paid $100 but I got 4 responses I can't remember exactly how long the ad went but it wasn't very long. And also to be fair I live in a low population state so there is not much competition here. In the Greater Cincinnati area you may need to spend more to get your ad frequency up. I have also done well with placing ads in the smaller newspapers.

I also wanted to give you a tip about mentors. And that is go visit the Coffee and Doughnut shops in your area. Make sure is is early in the morning like around 6 or 7AM in many of them you will find a group of people (typically older men.) that are there pretty much every morning these will very likely have the mentors you are looking for. I found such a group at a local McDonalds they get together and meet every day starting at 6:30AM I started hanging out with these guys one day a week and found out that between them they built most of the housing in the area I live in. The cool thing about it is that they love to share their advice they don't charge me a dime they just enjoy sharing their knowledge.

I am looking mainly in Chittenden county but I woudn't be opposed to other towns north on the I89 corridor (Georgia, St Albans, Swanton. I live in Milton, Grew Up in South Burlington, and do a fair amount of work in the St. Albans area so I am really familar with these areas. Right now I am hoping to purchase a property for Rehab I was thinking start simple with either SFH or Duplex then use my share of the profits to eventually purchase rental properties to generate some passive income. I already have a contractor, realtor and attorney in my power team though I am thinking seriously about going through the process of getting my real estate license. Wholesale buying is illegal in this state without a license. I have also considered investing in the Plattsburgh, NY area I am not as familiar with the area but I can hop on the Grand Isle ferry and be there in less than an hour.