All Forum Posts by: Dominic Jones

 Yes, like Greg asked, where are you investing internationally? Your comment was very vague. If you aren't open to disclosing the location, that's understandable, but it would be helpful for the conversation. 

 Wes, I'm not Canadian and I'm not in a position to answer your question but I would love to know the outcome. Definitely keep in touch and stay with it. What websites have you been using to find properties in Chile & do you know the name of the Chilean property management firm that your relative uses?

 Thanks a lot for the tip. I actually have the "local short sale expert" on my team who I spoke with tonight. He gave me advice on my letter draft, so I'm going to edit it and change it up a little, then send it back to him to see what he thinks.

What do you do if the homeowners do agree to work with you to do a short sale? I'm interested in knowing the details rather than the very broad, general answers I've been finding online about the topic if you can give me any insight, that would be great.

I appreciate your help nonetheless! May be able to use that tactic when working in a different market. How do you bill the agent for your marketing costs? 

 Wayne, is there any other way that you are aware of or is this almost completely infeasable? Feels like the only way to do this is to use the double close method by purchasing the short sale, then selling it to the buyer who actually wants it.

Is this correct?

I'm in Pennsylvania (PA) and I am working with a cash buyer from my local REIA who instructed me to market via direct mail to these pre-foreclosure leads that I acquired from the courthouse. I'm in the process of verifying addresses in the civil search database, so that I'm not wasting (what little start up money that I have).

He also put me in touch with the local Short Sales expert so I can speak with him. as well.

@Andreas F.,

I'm probably not as experienced of a guy as you're looking for but I'm always open to talking and bouncing ideas off one another. I'm going to be Teaching English as a Second Language here soon and am determined to have an international real estate portfolio. I would love to connect with you and see how we can both help each other.

Best,

Dominic

 You can also find some of the terms at on Investopedia.com.

You can always google any term you come across that you don't know. Sometimes I just type in the term like "term" real estate and see what comes up.

I wouldn't go this far... but I've seen a real estate dictionary at the local books-a-million haha! I feel like that would be overwhelming. But any good investors book (to me at least) should have a glossary / index of terms in the back of the book that will help you out as well.

Hope this helps.

Very helpful conversation going on here. Shows me more of the importance of knowing the tenant-landlord laws and rights in each state. I think the consensus from the posts have been to honor the leases but make modifications at the end.

I definitely agree with @Jennifer T. on this. I would let them know the changes you plan to implement before so that they can make the decision to stay or to leave and they won't feel blindsided.

In any regard, you want to be as amicable with them as possible and don't come in with the uncle sam "big stick" approach. Just have a conversation with them, let them know what you plan on doing and let them decide if they should stay or if they should go when the lease is over.

 Well, these guys said it best. I'll have to invest a little into that book because I need to know more about the rehabbing costs and how to estimate them as well. Thanks for the quick & direct answer Darrie & Brian!

@Levi T.

 Welcome to the site my friend! Just stay engaged and keep asking questions no matter what. There's a lot going on here and you'll learn a lot by association.