All Forum Posts by: Michael Shadow

Hello Howard, welcome to BiggerPockets. What do you mean by marketing?

-Michael

That's awesome, how long have you been running a restaurant? All my business counselors tell me that that is the hardest type of business to get setup and operating. How has it been for you?

-Michael

What did you accomplish?
Got a new business venture off the ground and running.

Your best success?
The business venture has been doing extremely well so far, way better than I expected.

Your biggest mistake?
I served a notice to vacate because of lease breaches (not a pay rent or quit notice) and the guy asked me if this ment he had to leave, I told him no, it was a notice to stop violating the lease. That was technically the correct answer, however I should have told him it ment he had to go. I have had to serve 3 pay rent or quit notices since then. One of them he went to the 10th day, the day before I was going to the magistrate.

What did you learn?
Starting a business is a lot of work. Also I learned that letting someone buy into your business is the most expensive way to raise capital. Even more so when he trys to turn the table 80% of the way through the process to become a consultant not a partner. I also learned that it was good that I actually worked a day with him before he became my partner. Thankfully I realized all this before I brought him on and cost me a lot of money, and probably also lots of headaches.

Did you achieve your goals?
Most of them, I didn't volunteer for Habitat for Humanity this year. Well actually I did, but I didn't do any work for them. All my other goals I met or far exceeded.

Awesome thread. Thanks!

Hello Justin, welcome to BiggerPockets. Are you doing any deals in Michigan?

-Michael

Hello Damon, welcome to BiggerPockets. There was a recent article about people doing door hangers to find motivated sellers, it might help you to get started.
http://www.biggerpockets.com/forums/87/topics/42056-door-hangers-anyone-

-Michael

There was a huge apartment fire down the street from one of my buildings last night. They got everyone out ok so no one was hurt, thank God. 18 apartments destroyed and 2 commercial spaces, one was rented by our state rep. This kinda of stuff breaks my heart.

Always make sure you keep your buildings up to code so if something like this happens in your building you can have a clear conscious and everyone won't be screaming landlords fault. It's not official but rumors around town are saying it was a Christmas tree that started the fire.

http://wearecentralpa.com/content/video/?cid=139201

-Michael

Originally posted by Lafi S.:

I would pull the lispendens list for a specific area and I put out 20-30 a day.(my goal is to do 50 a day for next year)

I'd find some teenagers, (clean ones) give them $10/hr to plaster them on the doors in the neighborhoods I designate, and tell them I'll give them $100 for each deal that I can close. Make different sets for each person I hired so when I saw the paper I could identify which person placed the hanger.

Hmm... This might be a good job for my daughter this summer.

-Michael

I'm thinking about trying them, they would be great for targeting specific buildings.

Anyone have any costs on them? Any places you prefer to buy them from?

-Michael

Hello Babs, welcome to BiggerPockets.

-Michael

Hello David, welcome to BiggerPockets.

There are deals to be made anywhere, it's impossible to find a deal where I live too, but it's not impossible to make a deal. Deals can be made in any area, even yours.

When you invest in your own backyard you have a huge advantage because you know everything about your local market, which neighborhoods are good, bad, etc.

-Michael