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All Forum Posts by: Dell Schlabach

Dell Schlabach has started 10 posts and replied 872 times.

Post: No Cash? How to acquire Rental Properties with No Money Down!

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

@

Post: No Cash? How to acquire Rental Properties with No Money Down!

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

 ......

Post: No Cash? How to acquire Rental Properties with No Money Down!

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474
Originally posted by @Joe J.:

I am amazed at some of the negative people on this website during my short time here. Negative People, office politics - that is why I am so happy to be RETIRED from corporate America politics.   Several people often respond to a Blog posting without even reading the entire Blog post.  It almost seems like a canned answer they give just to get more credit for posting points.  This current Blog post is a great example.  No where in this post did I speak about wholesaling but one of the first person to respond discussed wholesaling.  Did they even read what I actually wrote? 

Also, several people have accused my Blogs of being a sales pitch but yet they have sales pitches in their footers that they paid a small membership to have.  Newsflash - if I wanted to sell something, I would of paid the same few hundred bucks to do it too. I AM NOT HERE TO SELL ANYTHING!

Many of you probably have real estate clubs that you offer training or try to bring in guests every week to sell something. I get it you take this website as your territory and don't like new people like myself coming in and offering FREE Information to help Newbies!  All I have provided in my posts is good information and encouragement.  Many real estate investors lack confidence!  Many unsuccessful real estate investors need the confidence to go out there and JUST DO IT!   

Also, not one of you Critical and Negative "Expert Investors" have offered FREE additional ideas in this Blog post to help people for FREE!   Why not add more FREE information then just post sharp tongued negative comments and make accusations "like he's making a sales pitch" with no reasonable basis to support this theory? 

Hey, how about the concept of the no seasoned mortgages by small portfolio banks which is a great tool!  Have any of you Negative Critics done no seasoned mortgages and cash-out mortgages.  I know you must have so why not offer information and encouragement on this Blog post to help others do it too? 

If I buy a house for all cash and rehab with all cash and a bank that is a portfolio lender offers a no seasoned mortgage where I take cash out and I end up with all my cash back, that was a no money down deal for me.  I have done this for years and showed many others how to do it too! Not a sales pitch just a fact to give people encouragement.  

TO THE NEGATIVE SHARPED TONGUE PEOPLE ON HERE - YOU DON'T KNOW ME! - What I can tell you is I am a Christian and I help people and I give back.  I spent many years in not-for-profit accounting helping children, the disabled and the elderly.  Yes I was a Chief Financial Officer for several organizations.  CFOs in NFP accounting make far less money but it was more about the mission of helping people not about making money!  

I believe if you help people it makes the world a better place. I have also flown or driven to various cities at all my own expense for friends to guest speak at an REI Club Meeting. I might add, I never expected payment, did not get money for travel expenses and I spoke with the intent of never having a sales pitch like I have seen at so many of these REI clubs.

I went to speak to give back, not to pitch a program or sell a book like I have seen several people on this string doing.  People on here say Lions protecting cubs? Right, what if the Lion protecting the cubs is Scar from Lion King?

I am a young and retired CPA and 100 percent full time investor.  I have had many people encourage me to share information with others.  One colleague told me about this website.  Thought it was helpful to share knowledge and inspiration, however I have found out otherwise. 

In regards to writing books, yes I have written several books and you know what they were written to give away for FREE! I never have charged for a book!  I have also ghost written real estate books for FREE!  Why you ask?  TO GIVE BACK!

It seems like there is a "good old boys network" here and what a shame.  I am a seasoned investor that just wanted to give back and help people through providing information and inspiration.  Maybe even write a few things that teach but are also fun to read. 

Just for the record, I have been ripped off by dishonest contractors and I have had tenants damage rental units and lie to my face.  However, I still remain positive and want to help others do to many negative things that have happened in my real estate investing and my life. HAVE FAITH and be positive in life.  LIFE IS TOO SHORT! GET A LIFE!

You are chasing away people like me away from this website for no good reason.  Is that really what the website is about?  Having a few people try to control what people want to write?  Having a few people try to GUESS why is this Joe Jurek here? 

What about commenting or just thinking to your self - "isn't it great to have someone new that might just care about helping people or sharing FREE information, ideas and inspiration? It should be, unless my FREE information is not welcomed here because others can't sell their information?  No that must not be it.

GO MAKE IT A GREAT DAY! BELIEVE AND ACHIEVE! :) - Joe Jurek CPA 

Posting blogs in the forums is going to immediately set off  red flags for all the serious bpers especially a no money down sales " blog" in a "forum", not the appropriate place.  

I've been to my share of guru seminars and boot camps and your blog seemed very much like one of them. 

A google of your name brings up videos of you and I assume your wife standing in front of a Cadillac, in what appears to be trainings or sales pitches for *************, the no money down guru of gurus.

You may be a Christian and do a lot for Charity, but i suspect most people here would rather do business with an honest athiest than with a Christian they dont trust. 

You will get a lot more respect here If you post you blogs in the blog section and answer or post questions in the forums.

Beating up on some of the brightest most successful investors in the country who have build a reputation of helping investors on bigger pockets for years, is not helping your case either. 

We welcome new people and new idea here. You will be very welcome by everyone, if you actually look up the questions people have and answer them, there are hundreds to choose from, with your experience you should be able to do that and build a solid reputation here.

Welcome to the site.

Post: NACA funded sale's structure advice, please. TY!

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

@Account Closed

We have done similar programs in the past, at one point  ran our own credit repair program while we sold houses on lease purchase contracts and worked with a good mortgage broker to get people qualified and sold the houses for top dollar.

Way too much work, as someone else mentioned, old habits die hard, especially financial habits. 

Had a couple NACA types with in city properties, Had one that worked out, affiliate had one where buyer dropped out of the program early and and didn't qualify anymore. They stayed about a year under lease option agreement, trashed the place, 20k in rehab later he put it back on the market, took a 30k some hit.

Another one some things went wrong, husband tried to strangle wife, he went to jail, she filed for fivorce, she couldn't get the financing, four years later she is still in the house making payments, lease option has been expired for three years, place looks pretty bad on outside, she has periods of making regular payments, then runs into trouble..gets back on track...and the drama continues

To much drama and potential downside for me with not enough upside, especially in today's market. But that's me. 

Post: How a $500 problem became a $5000 problem

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

Furnace and hot water tank can typically be connected to a liner dropped into the chimney, my hvac contractor charges me 250.00.

Liners depending on size, connectors, termination materials for top of chimney can typically be purchased for 75-250.

The chimney repair, if you have loose brick and flashing work would still need done... 

I would get a couple more quotes on liner install and you should be able to kerp the project costs 750-1,000 instead of 5,000, in my opinion.

Post: Wholesale or RE license???

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474
Originally posted by @Account Closed:

Getting you RE license wouldn't hurt, it would however take a year or so and cost around a grand. Also, you would have to make it clear to motivated sellers what your intentions are on their house so it wouldn't be a conflict of interest.

 @Jerome Turner

Not quite a year :-)  ... 75 hours in new york, most people can do that in a few weeks, full time or 4-6 weeks part time. 

Post: Locating private lenders

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474
Originally posted by @Derek Collier:

do anybody know how to locate private lenders

They are called private lenders because they are private. Private lenders ate typically people that know you and trust you, or they are referrals from friends or acquaintances that know and trust both of you. Its where most of my private lenders have come from. 

When I was getting started I did the 20 question list. Gets answers to a lot if questions, I have used this with multiple new people who have the found "lenders" using this method.

If you sit down with a pen and paper, make a list of 20 people, friends, family, acquaintances, business associates, business peoe in the neighborhood, your church, community organizations you belong to. People you know that would/might have enough money to do the size project you are interested in. 

Go talk to those 20 people, or enough of them until one agrees to fund you,  if you are someone a person with money is willing to fund, and or you have a deal someone would fund. You will most likely find them in this group. 

Post: Direct Mail = Police Report

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

.........

Post: My first flip at 26, a woman, ZERO construction skills.

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474
Originally posted by @Steve Babiak:

please don't feed the troll ...

Sorry Steve...ill quit dont know about the others.  .... he just makes it so easy and tempting :-)

... invalidating others success like that I find irritating...

My first rehab looked better than 90% of the guys that had been doing it for years, in our area. I have seen numerous first timers put out better rehabs then experienced rehabbers.

Post: My first flip at 26, a woman, ZERO construction skills.

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

@Nicholas Moffet

Linda has two words in her entire dissertation about gender, (even women). Everything else if referring to first timer abilities along with her own example, and you go on a diatribe about gender bias. 

A bit of jealousy that the women did better then you on there first rehab?

Reminds me of last year, veteran rehabber, one of my private lenders,  wouldn't loan on a project because I was partnering with a (female) first time rehabber. I used another lender on this project.

The lender who wouldn't fund, started a project with his nephew, their third rehab where he is teaching his nephew the game. 

The female partner, first rehab, ran the entire project, hired all the sub's, did a bunch of work herself,  completed in six weeks, the master rehabber with his trainee, on their third project" took them eight weeks. 

Success is always the best vindication.

@Nicholas Moffett