All Forum Posts by: Case Roos

You're welcome @Korey Hayes. Thank you @Monique Burns for the input!

@Korey Hayes, in my county I have to look up the specific house address on the county assessors website to find the owner of the house.

@James Orr, is Fort Collins the market you have your club in? $30,000 a year in single family rental income is terrific and I've really only seen that in the vacation rental market from my area. Are rent prices high there, relative to other areas?

@Korey Hayes, you're welcome! I personally haven't bought homes in that stage of delinquency, only after they've been foreclosed on. I believe the best way to do it would be to track down the lien holder and see if they'd sell you the note, however then you'd have to go through the foreclosure process yourself which I believe is a lengthy and expensive route (i.e. lawyer fees, title fees, etc.) The other potential possibility would be to go to the homeowner in delinquency and ask if they'd be willing to sell the house to you. I've heard of people doing this by offering to payoff all accrued costs of the house and giving the owner a little money to walk away with. 

-Case

@James Orr I haven't joined any club, I've worked exclusively on my own flipping properties with locally sourced private money. There's a few people in my area running similar businesses but there's little in terms of group support. 

@Sinnah Brown I recommend going through a banker instead of a broker. I believe you'll get just about as good of a rate at little to no origination costs. Also shop around a little. Everyone's going to offer a little different financing packages. 

-Case

@James Orr, I don't run a national club, I'm asking because I own and operate my own real estate investment business and am looking for new people to connect with in that field.

Korey,

have you purchased tax delinquent properties before? I believe every county is different but in mine they post on their website and hold sales throughout the year.

-Case

Hi guys, are your investor clubs exclusive to members in that area or do you take in out of state investors as well?

-Case

Brent,

Nice to meet you! I have a list of subs that I'm close with that I use for the projects. Once in awhile I will work on the projects myself and for awhile I employed 2 people to cut the costs of subs, however after operating that way for about a year I found it was wiser to cut the two employees loose and operate with subs exclusively. The profit margins on the flips aren't as high as when I had the employees but my liability is way less. I also gave up my realtor license and have trusted realtor friends that help me find properties. Liability in this game is huge and if you work on a house yourself or you employ people to do it and it malfunctions then it's on you to fix it, whereas when you hire subs it falls on them to warranty their work. Same goes for the representation of a realtor. I currently buy in Tillamook county as that's where I grew up and am most familiar with. I'm interested in moving out of that area but most of my private lenders want their money in the Tillamook county area. 

-Case