All Forum Posts by: Bob Razler

Hello @Ryan Detig !  Congrats!  Great work!

Congrats @Cal Rohrman !  I hope it goes well!

Bob

Hello:

I have made contact with a few wholesalers in our area.  However, only one seems to have consistent deals so far.

One tactic I have been using it calling the numbers on all the "WE BUY HOUSES" bandit signs at intersections.

Bob

Hello @William Kelly !  Best of luck.  The networking will also put you in touch with other RE Investors.  Overall it will be a great experience (as I am learning myself).

Hello:

Agents are a special group.   Face to face is always better.  After that, on the phone.

They are very busy and they want to close deals.  Pronounced "they don't want to waste time."

Look for investor listings in the MLS with tags like "Great investment opportunity", etc. Look for listings that look like the agent speaks our language (cash flow, etc.). Call them on THOSE listings, discuss them, make an offer (within your range). Let them know that while this deal might not work for "us" "please bring me anything else you find", etc.

I would recommend going to your local REIA meetings and network events. There are lots of agents there.

Find out when the broker office meetings are, and stop by that morning with coffee and doughnuts for them.

In the end, you just need to build the relationships beyond email.

Bob

Hello @Luis Vilar!  Yes, we might have.

The numbers are a little better up there but not as good as further out of market like JAX and Orlando.  Sadly I can't house hack up there.

I also think I may be too conservative on my house hack analysis (dangerous thought, I know 😀).  There are lots of benefits to house hacking compared to me renting where I am now.  I have been running numbers assuming I am renting it all out as I would be eventually.  I may need to re-evaluate my analysis.

Bob

Hello @George Kocher!

I feel your pain. I am in South Florida as well, looking for a house hack, and I can't justify the numbers I am seeing (from an ROI perspective anyway).

I have started looking further north in Hobe, Stuart, Vero, etc.  

It can be frustrating but I am focusing on networking, looking for off market deals, driving for dollars and possibly investing out of the area.

Bob

Hello @Jay Hinrichs !

Like @Rhiannon Then I hear about Clevland often as a great place for cash flow.  Sadly I am biased by my image of Clevland and am having trouble feeling the love.

Maybe, like you, I need to get up there and see for myself.

Did you find any good turnkey operations there?

Thanks,

Bob

Hello @Joshua Ruggels and welcome!  Congrats and good luck!

Hello @Jonathan Park !  

I agree with @Lauren C. .  Every home has a price for you that is defined by your objectives.

I always reach out to the listing agent to make sure we get introduced and to cultivate the relationship (they may have other opportunities).  I let them know I am an investor and that cash flow is my critical metric (yours may be different).  I let them know that I could make a highest-and-best offer but that it is considerably below the list price.  I tell them that I don't want to waste their time or insult their client but that I would be happy to send over a written offer if the agent feels it is OK.  If not, I don't; if so, then I send it. 

It never hurts to offer, the worst they can do is say no.  Or another way of saying it - if you don't ask, they can't say yes.

On a related note, from my days in home building and buying farms, never underestimate the value getting them a written offer.  It goes a long way to getting them to YES.  If you call and just ask, they might hang up and move on.  If they have a contract with an offer in hand, that speaks to them every day about the money they could have in hand if they say yes.

Good Luck!

Bob