All Forum Posts by: Charlie John

@Jenna Thomas

Some photos will get you better responses. 

It depends on a lot of stuff like window colors, roof color, etc. 

and @Joshua D.is exactly right - if it's a rental I would just clean it because you don't want to be repainting it again if the paint somehow doesnt stick. 

LOL @Ronan M. I can't tell which color scheme the tenant painted!!

Everyone's comments here are spot on. If it stated no painting in the lease then you are fine. They will repaint it back to how it was when they moved in otherwise pay for it out of their deposit. I can understand how much work goes into doing painting so I hear ya on how stressful it can be when someone else comes in and doesn't care as much as you about color/quality. 

Comments are spot on though- if they are painting because they want to make this rental a home, then don't fuss about it now because they could end up staying for years saving you on turnover costs. 

Good luck!!

I would not unless you get a substantial discount to justify the risk. Seriously. 

@SawyerLubke

thank you @Mike Cumbie

thanks for the responses everybody. I believe buying it as is meant buying at an as is price. Clearly not for what she owes. I would think the as is retail price might be 175-190k.

I appreciate your comments @Matt Motilabout just joint venturing instead of buying it and having all of the details in writing. And thanks @Chris Uhler for the comment about tensions getting high over design decisions. That is absolutely true. 

I am headed to this initial meeting in an hour so all of these replies help a lot! The power of bigger pockets... Thank you all

Hey BP,

Seller from my direct mail campaign called in and wants me to help fix up her house to sell for top dollar. Her house is worth 230-240 fixed up. I have not seen inside house yet but I am guessing it will need about 20k in updates. Paint, carpet, new bathroom, kitchen updates, fixtures, etc. She owes 60k. 

She said "how about you buy it from me as is, you invest your time (possibly $) into fix up, and then we split the difference."

Anyway, how do I make this deal work BP? Should I just tell her that I will charge a flat fee to get everything fixed up and then sell through one of my realtors? That's assuming we use a line of credit on her house to do the renovations. Thanks!

All of them.

Just do it and watch what happens.

clearly nobody here is familiar with marijuana. I am almost 100% certain that once the tenant moves out and has a day to air out, there will be no smell at all. Marijuana does not do that like cigarettes. Maybe they smoked both and the marijuana is just overpowering it right now. If that's the case then yes cigarette smoke is nasty stuff that will require deep clean and possible painting. Good luck!!

Here is the best way to start: Believe in your heart that you can be successful doing this business and then start direct mail marketing custom driving for dollars lists. Send to these lists every 3 months for the next 3 years straight and you will see deals flow in. Accumulate atleast 2000 addresses of target properties. While you are gaining practice talking with sellers that call in from your marketing, contact your team. Lawyer, agent, lender, etc. 

Make sht happen!

More advice for successful investors who have done it. Less about how a newbie should get started!!!!