All Forum Posts by: Dave Kush

There are many strategies for off market...

Searching public records for preforeclosure defendants, evictions (plaintiff may be tired landlord), etc can be a good source.

Driving for deals is time intensive, but tried-and-true. Look for abandoned or unkept properties. 

I buy houses signs

SEO, Web... Like try to get to the top of the search results for "sell my house in ___" and similar search phrases. This is a long term and expensive strategy, so maybe try the others first.

It's like farming. You may need to sow for a while before you can reap. 

Good luck!

Good Morning!

PM me, I am a wholesaler. I have a list of questions I can send. Most importantly though, please let me know what types of properties, where, other criteria (fixer upper, turn key, etc)

I'm not familiar with that specific term, but if you are looking for information on foreclosures, check out something like dealmachine.

Hi Vicki,

Welcome!

I am in the Chicagoland area and I'm a wholesaler. If you are looking for deals, DM me.

Dave

 That's a really cool idea

Hi Timothy,

Tough situation. Partners can be difficult. Family first, the money isn't worth the relationship. I can understand why you're frustrated with your brother's actions. It doesn't sound like it was all mapped out and now what transpired left you feeling this way. I would too, and I've been in partnerships where I was doing all the work (and one was with my brother!). It sucks. But, it is what it is. Talk to him, share how you feel diplomatically and emphasize that you want to find a workable, fair solution for you both. I think it's fair to express, kindly, that you've created the opportunity and done all the work, but you also recognize this is the agreement you made and that you are willing to compromise. You might end up with less than your effort should provide, but that's the learning cost of the shaky deal.

The bright side is that there seems to be several workable solutions, and the two of you are on good terms. Keep it that way. It doesn't sound like he's tried to take advantage of you, it's just that the deal panned out in an unexpected way. 

Good luck. Keep us posted

I would definitely require a long term lease unless it's specifically designated as a mid term.

A 5b house can be difficult to keep rented. Often, the people who can afford to pay that much can afford to buy. (Before people jump on me, I know there are exceptions, especially multiple family situations, but let's be real. Most renters are renting somewhere between two to four bedrooms, not 5-4).  

I would not do a trial. As people above stated, this might be being used as a mid term. Vet the candidates well and sign a long-term lease with them. Plus, if you do that and people still move out, you'll know it's either you or the house. And that is the advantage to renting out a large house. If you do get the right tenant, they are going to have a lot of stuff and will spread out and stay awhile.

The subject line says house hack. Are you renting to a single tenant who takes possession of the entire premises?

This is worth asking an accountant about. The specifics of your and their tax situation would make general advice difficult.

There are definitely cash flow positive deals. I find that the one percent rule is merely a way to scan (mostly on market) properties to see how close they are to cash flow. I have never used it as an ironclad rule. To be honest, I've never used it at all.

I operate in the Chicagoland suburbs. There are deals to be had. You have to be diligent and consistent to find them. Most houses cannot be bought at a price sufficient to cash flow. It's a process to locate the ones that do.

Well done sir. I've heard that South bend is a great short-term market.