All Forum Posts by: Account Closed

No Name,

Your post reads like a newsletter.
Thanks for the tips.

Regards,

Anyone invest for the specific purpose of tax loss deductions? If so, what?

Here's my 2 cents worth: lol

Ohio is an employment-at-will state.
An employer can fire an employee at any time with just cause and an employee can quit at any time for any reason. It's your choice.

You are either a leader or a follower; employer or employee; landlord or tenant. It's a lifestyle choice. You can make it happen. Research all of your options and follow through.

Regards,

Rod,

You are right...
negotiate is not step 1.
I only listed it with locate in step 1
because you had previously listed locate and I did not want to reiterate the same old thing because you asked that we add to your list just as John has added to my list in his 11 steps post.
There are alot of steps and sub-categories. Sorry if my post confused
anyone.

Your post mentions a book, are you compiling a list to write a book?

Regards,

Greetings Jenny!

It's good to see you on the BP site.
There are so many professionals with great advice and contacts for networking.

I read a few of your bulletins on another real estate forum and we exchanged comments. You told me of the MO market and I mentioned that OH has alot of potential for cash flow. Perhaps we can also be colleagues on this BP site as well.

Regards,

Becky M. Burt
Ohio investor/paralegal.

Greetings!

There are multiple pieces to the real estate puzzle so, work it from all angles.

Basic process:

1. Locate & Negotiate. (As you listed.)
2. Purchase Contract.
3. Funding.
4. Closing.
5. Exit Strategy: Sale/Rent/Lease Option

There are sub-categories in each step.
The order of the process can be altered to each deal. Mix and match. Repeat.

Start a buyer's list so that you have potential to sell the property quickly once you have closed on a good deal.

Another option is to partner with another investor to have funds available quickly for good deals.

Research online auctions for deals that are pennies on the dollar.

And, read and learn.

Good luck!

Regards

Greetings Tyra!

As a matter of fact, my first auction listing was on eBay. It was an out of state property at Myrtle Beach, SC and there was alot of interest through the auction until it sold. Location and marketing your listing helps create interest.

Auctionzip.com is another good site with multiple state listings and a good resource for information for online and onsite auctions.

3daybid.com is similar to eBay but with a smaller audience.

If you are an agent, you can list with realtybid.com.

I have had several winning bids on bank owned properties at williamsauction.com which is operated by a law firm in another state.

Since real estate is governed by state laws, consult your attorney for compliance in buying and selling in the applicable states as well as, the federal fair housing laws.

For your information, ads, terms and conditions and any applicable disclosures must be considered in all listings.

There are good software programs if you want a self directed auction platform.

Research software companies and auction sites prior to giving any personal, company or financial information by phone, fax or web.

Government websites can offer good deals on real estate if you're interested in buying from the government. The government also buys and/or leases real estate if you want to pursue that area. The possibilities are endless!

Put together a professional team of experts in different fields such as legal, marketing, real estate agent, accountant, web designer, etc. for the maximum benefits of your real estate business.

BP has numerous professionals available to network as colleagues.

Good luck & good investing!

Regards,

Greetings!

The reason I asked if you were going to rent or sale, the numbers on the rehab can be dramatically different with the latter being more expensive and time consuming. A good exit strategy planned in advance can help with the time frame of the rehab. Watch the neighborhood sales market as well for timing.

I read statistics that showed buyers have less interest in spending alot of money and/or time in the kitchen as they did in the past due to their busy lifestyles. More interest is being given to fancy but functional bathrooms such as heated floors, jacuzzi bathtubs, access to phone, tv, music and laptops as well!

The type of buyers who will look at your home in your neighborhood can help determine what rehab to do and at what cost.

Exterior landscaping or gardening should also be consistent with the home's potential buyers.

As the saying goes, "curb appeal" but also leave something for the buyer to make it his/her own.

I hope this helps your creativity!

Regards,

Carey, it will be a challenge to top your own deal!

Josh, I'm always up for a good challenge! What about you?

Regards,

Your subtitle states, "Hello from Canada". What's the rental market doing in your area? Do you plan to rehab your home and then rent or sale?

BP does have alot of professional information for you whatever you decide to do.

Good luck!

Regards