All Forum Posts by: Daniel Hart

Hi, it's been awhile since I've been here, having signed up over a decade ago :O

I can't seem to get my signature to show. I'm just looking to display my very basic information; name, title, website.  I have gone through all the profile options to great extent, but I do not see a signature box to complete, and I have completed (I believe) all of my company information.  Perhaps I have missed something?

Thank you

First, you need good access to the auction reporting.  There are private services that offer this.  Second, since there is a 10 day upset period there is virtually no need to attend in person.  After you identify a property, you can pull the file on the 3rd floor of the courthouse and place a bid with a 5% deposit.  Clear title is not guaranteed, so be sure to research the property before hand.  Each subsequent bid extends the auction by 10 days.  If lose, you get your deposit back.  If you win, you will be contacted by the attorney (substitute trustee) handling the sale with payment instructions.  That's a very basic overview of course. 

While you can always connect with wholesalers, the best deals are always the ones you source yourself through your own motivated seller marketing.  Personally, I have found direct mail to be the most cost efficient, but there are a number of other ways to source leads, but your message must match your targeted demographic.  Testing and tracking is critical, and this is certainly some work on your part, but the results are VERY MUCH worth the time spent.  A lot of the work can be outsourced, but the meeting of the property owner to build rapport, understanding their story, and proposing a solution that meets their needs; these are things are should not delegate.  

I'd be buying outside the city limits, but thanks for the heads up on that

Thanks! Lot's of great info here.. looks like i have my work cut out for me

Jeremy, great idea about the VRBO and Airbnb calendars!  

I will be looking for a single family home, rather than a condo, as most people traveling to Asheville, NC want a quiet mountain cabin.  

I've accumulated quite a few rentals in the city I live in, and the focus has always been cash flow, but I'm considering purchasing my first "vacation rental". 

While I have set formulas for my lower/middle income inner city rentals, I haven't the slightest idea what to expect from a vacation rental.  

I'm considering purchasing in the Asheville, NC area, and would purchase something that not only satisfies me for my visits, but also is universally attractive for vacation tenants, meaning an attractive setting, reasonably close to downtown, and modern amenities.  The price range I'm looking at is $100k-$150k.  The only assumption I am making is that something like that would rent for around $99 a night. 

My typical rental property at my home has a cost basis of $40k and rents for $800 a month, and those numbers always work, but I understand that with a vacation rental I may not see much income.  I know that I won't be able to manage it, and I'll have to have a property manager who will charge higher fees then a standard long term rental manager.  

So, in order to really understand what a vacation rental like this might earn (and I don't need income to buy it, but I do want it to break even), I need to get an idea, even just a ballpark, of what type of vacancy rates and management fees I'd be looking at.  

Even if you aren't in that specific rental market, I'd appreciate your estimates.  Thanks!

I know this is an old thread, but I'm really curious as to what happened to Kris Kirschner's business.  Someone mentioned that it was sold, so it must be in use.  He had a pretty big following, so I'm wondering if one of today's top speakers is simply using the Kris Kirschner program.   

Could someone like Fortune Builders have simply purchased the program and tacked their own name on to it?  It would be interesting to compare the Kris Kirschner materials to the big speakers of the last few years.    

The buyer hired an attorney to pursue an action to force a sale, but they decided to instead buy out the partial owner for an amount that I feel was unwarranted. I think they felt that the lost time of the forced sale wasn't worth it. I think they lender advanced the money to buy out the owner. So now that the buyer has 100% of the property they will rehab it, and will sue to get they're money back. They know that ultimately it's the E&O and title insurer that are responsible, but I suppose they are debating whether to add me to the lawsuit. I asked to be left out since both they and I know that I did all that was asked of me and didn't do anything wrong. So, I've been waiting to see what happens...

RE: Title insurance... the policy was never issued. The fee was the HUD but just having a fee on a HUD doesn't actually mean you get a policy. The title company is stating that the attorney didn't disclose to them the full extent of the claim of ownership so they are denying responsibility. Honestly, I do agree with them at this point, and I think the E&O is the one that needs to own up.