All Forum Posts by: Edwin Brown

Stay with it and talk to as many people as you can. Success in this business comes from experience. The more you can learn from others the less you have figure out yourselves.

10 new users a day. That has got to get annoying.

A couple of ways we do it.
1. I have another applicant coming in. I'll make my decision after talking with them.

However, if you are going to be in the rental business very long you will have to develop the ability to look people in the face and say uncomfortable things like "you haven't ever paid any other landlord in your life. There is no way I would rent to you. Have a nice day"

That is bizarre. It can't be in your best interest. So I would dispute it and see what they say.

Would love to help. I'm here in Jackson and have been investing for several years. In fact, I'm speaking at the local investment group this Thursday. PM me and let's get together.

The real estate business is not getting any easier these days. Site like biggerpockets are an invaluable tool to helping speed up the learning curve on how to survive and thrive in this market.

We've had some success with selling properties through local and out of state REIA's. Draw up all the information into a tight little package and go to REIA's and pitch the properties. There are so many good deals out there that your properties won't be found. You have to find the buyers and REIA's are a good place to look. Also, since you will probably be selling to investors that are not full time in the business (they would find their own deals) you need to make it very easy for the new investor. Don't expect them to know the ropes and have cash ready to buy.

Try finding a hard money lender for the deals and offering that as part of the package. Makes it easier to buy, built in financing.

Go to your local REIA. Talk to a few folks until you find someone that clearly knows what they are doing and is doing it full time. Offer to work for them for next to nothing in return for getting to learn the ropes. Best way to get a feel for this business quickly.

I've heard some horror stories out of Indianapolis. Heard some from our neck of the woods too. The best thing i have found when buying properties out of state is to randomly call an agent out of the phone book and tell her that you own the house and want to sell. Ask her to give you an idea of what you can get in that area. Usually a good indicator of where the true value is.

Until you start buying large blocks of properties the banks will not even talk to you. Best bet is to smooze with the REO agents and get first shot from them. This method is getting tougher these days as a lot of lenders are requiring 10 days on the market before looking at any offers.