All Forum Posts by: Edwin Brown

Your plan sounds fine to me. Better safe than sorry. One thing that is important, make sure you have atleast 10% reserves in cash for each property you buy. In the long term holding game, you are going to need some extra cash from time to time.

We've gotten a decent amount of short sale leads from property managers.

Scott,
For property managers my best bet has always been to get with local investors. They tend to know who is actually doing a good job with property management. I know it's out of town, but it may be worth it to go to the market and visit a local REIA. Just talk to other investors there and you should have a good feel for who to use.

Have done dozens of these deals in the last couple years. Getting the refi is the hardest part for us. The problem is that you don't know what the refi loan market will look like in 90 days when you go to refinance. One thing i have found about good HML is that they know who is refinancing to get their money back out of a deal.

Joseph, as has been stated already, "we can't tell you how to get there until we know where you want to go."

The world of real estate investing is so large there are many subsets within it. Everyone starts to fill some hole in their life. Either you are bored, need money now, want to build wealth, want to quit your job, etc. What's your motivation and needs?

We buy a lot of our properties from REO agents. I've always been hesitant to get my license because they might see me as competition rather than a buyer.

How does the owner let others have entrance?

Leave a key with the neighbor and offer to pay them a couple hundred to help you by letting folks in and telling them how great the area is.

If it's going to be a rental, you could talk to a property manager and let them handle it. They would be able to meet more investors, so it should be good marketing for them.

Pay a handyman to put a coded lockbox on the front. Only give out the code after someone contacts you and expresses interest.

Does anyone know if this is discrimination? I'd like to know, because it sounds like a fair point from a landlording perspective.

One thing that we do to make our property stand out is offer it as a lease to own. There are a lot of families that want to buy right not but can't get financed. Giving them an option working towards ownership may attract them to your property over others.

Welcome to the party. You can find lots of good info here.