All Forum Posts by: Daric Myers

Good morning BP, There is an old 32 door motel for sale in my home town. Would it be a viable strategy to convert to one bedrooms and accept section 8. There are a lot of homeless vets in town and I've heard that vets can easily get the voucher. Any info would be great. Selling for 700k but it's been for sale over a year and vacant.

I'm not there yet, but my lawyer had recamended a Series LLC. Now he's not an investor himself, but works with other investors in town. He's kind of my only option for local attorney. Is it better to have a Series LLC or separate LLC's? Why? And can anyone recamend a "virtual" real estate attorney?

@Wiley D'Spain You don't need to be an agent to get started in real estate investing, but if you want to become an agent I can't imagine it taking 2 years to complete the training. Before asking yourself if being an agent is necessary I think you need to pinpoint your goals and work backwards to see what's the best path. I hope this helps. Have a great day!

@Jeremiah Alston

Your preforclosure list comes from a title company. Ask for a NOD list. You may have to work your way up the ladder because the person at the counter from my experience has no idea what you're talking about.

Your county treasure will have tax delinquent list, and your city code inspector should have your non compliance list.  You may have to fill out a for to the city attorney.

List source pulls only a hand full of data from my area so I had to get creative. I also found it to be cheaper in my area to find a VA virtual assistant from India or the Philippines to scrape the data from these sources websites.

@Jonathan Abbott I'm just getting started myself and have had similar response to bandit signs. As far a door knocking goes I usually go with a neighbor around the house I'm looking at. It's a little less invasive if you knock on the door and say, "Hello, your neighbor said you might be interested in selling". Also check with your city laws to make sure you're not breaking any solicitation laws. I need a permit to do door knocking on a major scale. As far as driving for dollars goes I use Fiverr. I work full time and I need to automate as much as possible to be productive. If I get a chance to D4$ I just write the address down and send the gig out for someone else to research. I get more response from a call than by mail. It's just more personal. I hope this helps you. Have a great day!

Hey Ben,

I'm not certain of your strategy in REI, but Casper, Laramie, and Cheyenne show great promise right now. We ride the boom and the bust for sure, but College towns and military bases can help sustain your investment. I've only done a couple deals, but this is what I see. I'm also planning on scoping out eventually, but I'm going to start in my backyard. Would love to connect. Have a great day!

So, in about every other podcast Josh and Brandon talk about if there's not a REI group in your area start one. My idea is to have one every second Tuesday of the month. I'm going to have flyers printed and go to businesses around town using the flyer as a segway to introduce myself and hand out a business card. I have a speaker lined up to talk but here's my questions. How do I fill up an hour of time and keep people interested enough to come back? Should I have multiple speakers, give aways, real estate games, aaaaaaahhhhh! I'm not really freaking out, I just wanted to how others run their group. Thank you

@Jonathan Marsh I'm not sure if this applies to your situation completely, but there is a podcast where they talk about student housing. One lease that all sign and parents must cosign. Sounds like a win. I'm not sure what episode exactly but search in YouTube. It's a good one.

If your lender requires landlord experience to count the income, I would suggest looking for another lender.  Some require it and others don't.  

With the resources and knowledge I possess, I would be looking for a 3-4 Plex.  The idea is that you use the rent to pay for your living expenses.  Three rents would get you a lot closer than one.

@Lakeisha Baker I don't think I would ever sign with just one agent for all the reasons above. If one shines over the rest you may consider using him or her on the front end as the back as an incentive to show you awesome deals in the future. It will cost you a bit more, but a great agent is hard to find sometimes, so it's good to try and keep them happy.😎✌️