All Forum Posts by: Mary B.

find a good licensed structural engineering contractor.... my coin.

kudos,

Mary

I came across a post of theirs maybe a year ago and when I went thru the orientation process decided not to bother going any further. Idk about you but I can use that $20K towards the purchase of an investment property. 

the MLM game isn't for everyone and many are already tapped out of their newness so there isn't any more room to make the type of money that they state so many others have done. the whole thing boils down to recruiting others and that's the only way for you to make money. you'd have to get a good handful of people to sign up for $20K membership each and really think about it...if you come across a handful of people with $20,000 to invest, wouldn't you rather that monies go towards a project of yours? sounds like they'd make for some nice private lenders for your REI company...rather than being caught up in some MLM scheme...my coin.

kudos,

Mary 

hmm, a friend of mine that recently moved out to Cali was telling me that she is considering getting her r.e. license. though she  just started a new gig so it may be put on hold for now. I'll ask and get back to you if she's interested.

kudos,

Mary

Hey Phil,

this is the perfect place for you and your brother to learn the ins and outs of the business side of real estate investing. how well do you know your local housing market in NJ? if the answer is not much then that's something you need to learn a.s.a.p. to start. if you and your brothers are going to be partners in a successful real estate investment biz, at least one of you have to be the brains, right. that means plenty of studying and homework. this is a numbers business and they don't lie. which means, if the numbers say no don't go against the grain and say yes. you'll be sorry, believe it. 

there's plenty of education here on BP. whether its from threads, podcasts, blogs...just learn your way around navigating the infamous tool bar above. oh, welcome to BP. happy hunting. 

kudos,

Mary

oh ok, gotcha. there has to be a few areas in your vicinity that's in good demand. even a neighboring county, a neighboring state that has a good stable housing market for rentals if not flips. I'm not familiar with CT but I know they have to have some colleges and that's always a great area for rentals. if you are wholesaling to landlords / buy and hold investors then that's a great place to start.

kudos,

Mary 

if the owner is deceased and you have the numbers to prove that its a sure win, then look to probate. locate via recommendation a probate atty and treat them to lunch or coffee and scone(since $$ is tight).  of course probate houses can be timely if they are tied up in court.  however, if the owner had no relatives and they are now deceased without a will, then the state gets the property. that's the PA way. 

if you're looking for a rental depending on what area isn't as costly as a fix and flip. do you intend to be an owner-occupant? if so those don't require a lot down since there are government programs to offer financial assistance. research BRRRR as an option. knock on the neighbors doors and kindly inquire about the owner. there are other ways to locate absentee owners but they cost $$ so I won't bring them up.

kudos,

Mary 

well, it had to work somehow before. it sounds like its a duplex that's side by side instead of stacked. have you had a licensed contractor, home inspector come by yet? if not you should just to be safest. you don't want to rent the place and its violating code. 

kudos,

Mary

find a spanish speaking real estate agent. they often have access to both english and spanish apps. 

kudos,

Mary

the agreement must spell everything out... all responsibilities, who does what, what you're both contributing to the venture etc. make sure its in compliance with current state laws. get it notarized. get a separate bank account & EIN from the one you may already have. good solid friendship or not, business is a different world. 

kudos,

Mary 

I take it that you prefer off-market over mls. are you looking for clients or yourself?

Kudos,

Mary