All Forum Posts by: Austin Works

@Duy Nguyen I just put a 23 house package under contract that came to me via direct mail to high equity landlords. I have not had much luck with direct mail to owner occupant sellers, though. I'm sure this is very dependent on your competition in your market.

I am working on buying a package of houses from an older investor. He wants at least part of the sale to be via owner financing (4 of the 21 properties) for tax purposes, but he's only interested in doing a 10 year term because of his age. I won't cash flow $100 per door, but I will be paying the 4 houses off in 10 years that are being owner financed. Numbers below - would you do this? The other 17 will be on 20 year bank financing.

@Jim Pellerin these are high equity & owner occupied SFR leads generated from my direct mail campaign.

I am looking to pay a virtual assistant (or something similiar) to qualify leads for me before I spend time pursuing them. Can anyone provide a list of questions I should have a VA ask when speaking to leads? Any other info is very appreciated as well.

@Andrew Taylor, disregard, I found it in an earlier reply. I would probably pull the listing and re-list at 6% with a 2k-4k bonus commission added to motivate more realtors to show this house. 

@Andrew Taylordo you have a link to the listing?

@Nick Lang what exactly are you wanting to learn? For general concept, I think many people start with Rich Dad Poor Dad. Beyond that, you can veer into the particular strategies you want to learn more about. 

For rental property investing, I would recommend starting with Brandon Turner's Book on Rental Property Investing. 

For flipping, I would read both Gary Keller's book FLIP & J. Scott's Book on Flipping Houses.

For creative strategies like lease options & subject-to's, I would read Brandon Turner's Investing with Low and No Money Down; and also David Finkel's Making Big Money Investing In Real Estate.

I would say it depends-

If you plan on buying a B to C class property, I would probably buy in my name and purchase an umbrella policy from my insurance agent. Buying in your personal name opens up more options for longer term financing on rental properties. If you are planning on buying D class or F class properties, I would purchase in an LLC and just max out the liability coverage per policy on each property since these are riskier.

If you can find a local portfolio lender, usually a small local bank, you can place a down payment on a rental that you buy at a discount, and then cross pledge that equity to buy more properties over and over again (and never have to bring cash to the table again). Also, as you buy more properties under market value, you can then cross pledge that equity simultaneously to buy more than one property at a time. 

$25,000 on a fourplex, but still made money. This was my most educational flip to date.