All Forum Posts by: John C.

@Janice R.

Using an agent is a way to obtain "possible" tenants. You still have to do your due diligence on ALL of those prospects. Tenants are a numbers game and would probably take a lot of time if you cant (or wont) advertise to a large number of prospects. 

We personally dont use agents because we do most of the work anyway, agents may list on the MLS but that is a crap-shoot also, the community is a large resource. It sounds like you have decided to cut into your funds deeper rather than market better, good luck after only a few weeks of work.

@Shane, Awesome, thats what I was thinking! Phew! I certainly didnt think it had to be much more than that, and the title Co would express anything else needed to transfer, right.

@Wayne, all my homes have been through the same Title Co. Great suggestion just to have them set an official contract for me. Great suggestion!

I will have to figure out how to distribute closing costs though, now the ideas are coming out, great help folks at BP!! :^))

Thanks for the input Robert. Listen, I value the help of Agents. I'm not going fsbo because I dont want to "pay an agent". The offer I have is above the comps, even the investor knows that. I may be able to get more, while it sits vacant (Once this eviction goes through next Friday) and could take much longer in THIS neighborhood to get a buyer.

I just want to move as soon as possible to another property closer to me and would appreciate any help with the sales process and documentation you mentioned would be great.

My buyer has an agent who would probably help for... shhhh FREE, believe it or not, there are still some helpful people in this world. I am just researching so I can be prepared to make her help as easy as possible and of course, a little CYA for my own sake.

Thanks again for your time and advice on the process and documents please.

Hi All. I have tried to research this but maybe I just dont know the correct terms to search. This is my first investment property for sale.

I own a condo that... for many reasons I am ready to sell. I own the property fully. I have an Investor that has offered to buy it from me. He knows he has to pay cash because too many of the properties are owned by investors. His offer is lower than what I think it COULD sell for, but I am totally ok with that just to get cash and be done, I will still make a profit for the tax-man, ugh.

Anyone willing to help with the process I will need to go through to make this a legit transaction on my own? Of course, I will go through my Virginia State settlement and title companies, but where do I get started?

Thanks in advance.

I was just talking with "Ms Ali the great" today about this one. My college lacrosse coach made us memorize it. Now whenever I dont have at least a small "win" it actually hurts. I dont like to hurt.

Imagine your father (mentor) reading this to you from memory, slowly, since he has been through many challenges over the years, like mine. Remember... slowly.

The Man Who Thinks He Can

If you think you are beaten, you are;
If you think you dare not, you don’t!
If you’d like to win, but think you can’t,
It’s almost a cinch that you won’t.

If you think you’ll lose, you’re lost
For out in the world we find
Success begins with a fellow’s will;
It’s all in the state of mind!

If you think you’re outclassed, you are;
You’ve got to think high to rise.
You’ve got to be sure of yourself
Before you can win the prize.

Life’s battles don’t always go
To the strongest or fastest man;
But sooner or later the man who wins
Is the man who thinks he can.

- Walter D. Wintle

NOW LETS GET 'EM!!!

Hi Jennifer,

It sure is nice when you have a "partner" who supports your investment choices. That alone is a huge part of a successful biz! I caution you to maybe edit your hours committed as the IRS might not appreciate that when they see your statement up close. A very successful/knowledgeable investor named Karen Rittenhouse writes in her blog, "A qualified real estate activity is any thing in which you “develop, redevelop, construct, reconstruct, acquire, convert, rent, operate, manage, lease, or sell” real estate. If you are claiming to be a real estate professional on your tax return, you must be able to substantiate 750 hours worked in this profession and show that this was more hours than you spent in any other business endeavor." Just FYI.

Thanks all for the replies so far!

Glenn Espinosa I am by no means talented enough or available enough to do rehabs! For me, at this time, turnkeys are the only way to go. Nice!

Jeff S. You are the one who inspired me to write this actually! Your responses to Wade in another post got me thinking... hmmm. But I am by no means too frustrated with my properties! As the song goes, I cant complain, but some times I still do. For all the trouble, my properties kick-butt, but not always, ;-)

Chris Clothier - WOW! I really admire and respect you and your biz, I think you and I think MUCH alike! I actually really look forward to the day we cross paths at a BP conference or somewhere else. I love hunting down property! I love "measuring" the deal. Bartering or working the purchase is fun, and unfortunately I have the new puppy complex with my homes, but Im working on that, ha. I am also smart enough to know that alot of this stuff is WAY over my head, thats when I beg for help for those that "Get it", not guru's.

By NO means did I want this to turn into any sort of complaint about it NOT being easy. I work at this hard for me, but then again, I own 3 businesses, work full-time and I dont consider myself an "A" personality. I prefer to live to an awesome retirement, thanks to BiggerPockets, much of the hard work has been done, and I didnt have to pay a guru for the knowledge!

Anyone else NOT an A personality? Wish we could all meet up for a beer around the fire! :-D

John

Hi All,

In my mind, RE investors seem to all be very goal-driven, and thats a great thing. But I actually "like" my day job. And I sometimes "like" managing my properties also. But I admit, I really want to be a "hands-on" landlord only when I feel like it, HA! I know right... huh!!?

So, I was just wondering, anyone feel like they are more of a hands-off, buy/hold investor, or am I just crazy? Is that really even possible, especially as a beginner?

Just a little conversation I thought I would start up. Back to digging for deals, not my couch of course. :-)

John

How could I forget to mention!!... The show that kick-started my RE adventure!!

NEW Episodes start in 2 weeks. INCOME PROPERTY on HGTV. Canadian duplexes.

Sorry Im stuck on TV when I think you wanted movies. My DVR is almost all flip, buy n hold, investing, ha. Im a visual guy.

Steve has the all-time number 1 above, just watched it again this weekend.

But there are two TV shows that IMO are great.
"Worlds worst tenants" is a "fake" show on the Spike network that depicts very real scenarios and is great for knowledge,

and

"The Super" is on the HDNet if you have DTV. VERY real but obviously not the greatest of situations either. Again, great for situational knowledge.