All Forum Posts by: Mike Landry

Good points. I tried wholesaling, ppc marketing, fb marketing, mailers... wholesaled a few, found my own deals, flips, rentals, ect. But I've found that it's not worth my time/effort when I can work my flexible job with great benefits and income $300+. 

Back when I made $150 ish a year flipping a house for an extra $20k was worth the hassle and time. Now, I just want to buy and hold long term. I still might mail occasionally but want nothing to do with wholesaling. 

Good for the ones that make it work. But there's a lot of money in real estate education. And the real estate mindset against formal education and college is laughable. Most are fake it until you make it.... And most never do. 

 @Mitchell Benson  Hey Mitchell can you chime in here.  Weren't you doing facebook adds at one point?

 I haven't put any adds on the marketplace just in the group sites.  I set up a different FB account a while ago, put out adds in those sites, and bumped them often to keep traffic up.  However, I think facebook caught on and eventually froze my account.  Obviously they want you to pay for advertising but hearing how you can't target well makes me wonder the effectiveness.  I know a friend that has had positive results with FB paid marketing though.  

Nice. I'll be interested in hearing updates. I've bought 2 houses off Facebook from just spamming multiple buy sell trade pages in my area. Last one was probably 2-3 years ago. Now it seams a lot of people are doing it. I do it every now and then but haven't gotten any leads in a while.  I also pm people having garage sales that look like they are moving out and selling a lot of stuff. I've been thinking about the paid adds. But I don't have a proper website or funnel set up.... Yet. Good luck.  

I should probably know but... When doing paid adds on Facebook what criteria can you choose to show your ad to? Is it just certain area like zip codes? Or can it get into approximate income levels, home ownership, or other demographics? 

Here is a question for you. I have an umbrella policy covering my wife and I and our 4 rental properties(in MY name). I buy a house in my LLC to flip. Should I add that flip house to my umbrella policy? Do I have to add it to my umbrella policy? Can I even add it? Or should I keep it separate as it is a separate entity.

Thanks!

@Jeff Wallace yo Jeff.  Deal fell through and she quit communicating with me....  Looks like she missed her redemption period and probably lost the house.  The person that bought the hoa foreclosure got a hell of a deal. 

Don't read into the propaganda of Conroe being the fastest growing City in the US. Conroe is not that great of an area. Some growth is in the new master planned communities but the Conroe City area is pretty.....ehhh... Not spectacular. I wouldn't touch anything with a 7 cap unless it was near the woodlands. Taxes are high around here too so watch out. Good luck. 

I have contacted a Real Estate Attorney but would like to get some thoughts from you guys here.  Here is the deal.

The person I am talking to owned a house free and clear. They never paid the HOA or the taxes. In november the HOA foreclosed (texas). An individual was the winning bidder and they also paid the back taxes to prevent a tax foreclosure. They were given a constables deed to the property and the original owner has about 60 days left to pay them back and redeem the property. They owe them around $40,000.

For all you deal experts, how do I buy this house?  They don't have title until they pay the redemption.  And they can't redeem it until I buy it.  I can't loan them the $40k secured by the house because its not in their name.  And I don't think redemption rights are transferable.

Has anyone dealt with something like this? The people that are owed the $40k are "not being nice" and are trying to force them out of the house or pay rent. ARV $200,000.