All Forum Posts by: Dustin Tucker

 Ok, being in Jacksonville, FL, is a completely different market.

@Andrew Thomas

Dm me, i can get you a game plan to follow.

 Sorry, Unfortunately Voice to Text didn't work.

First Point, is as a society we look at home ownership the wrong way, a personal residence is a liability vs buying investment property which is an asset.  The difference between the 2 is a liability costs you money each month vs an asset makes you money each month.

2nd Point, As a realtory, you goal should be to be a listing agent, I don't think you have a had the chance to host an open house and try to attract clients as a realtor, you should at least try it a couple times, but at the end of the day hosting an open house to find clients is not the tool it used to be.  So back to the point, as a realtor, you want to be a "Seller's Agent", your question is how do you do this? First I have to ask a simple question, which is who is more likely to sell their house, a person living in their primary residence or a person not living in their primary residence?  The answer is fairly obvious, and that is the person who is not living in their primary residence.  So now that you understand what type of owner you are looking for you can go to realist and use the Non-Owner Occupied search feature, and find unlimited leads for marketing.  

Third, How to Market.

I would use one or a combination of these 3.

1. Hand Addressed Envelopes to your lead list, create a flyer about either listing their house, or even purchasing their property, the Hand Addressed envelope guarantees that your message will get read.

2. Skip Tracing, you can use Whitepages.com or any number of other sites to look up the owner's info and you can call them on the phone.

3. If the owner lives in town, you could even go knock on their door, I find this to be extremely successful when you are going after foreclosed properties.

As to your 1st post, you might want to look at city data for growing markets, It looks like Rochester lost population last year, vs if you look at sunbelt cities like, Houston, DFW, Austin, Miami, Orlando, Tampa, these cities saw at a minimum 1% population increase.

@Tejas Paruthooli

I can answer your question by telling you a story at what points in my life I was developing the software and I asked my attorney if he could write terms of use his response was brilliant he said the best terms of use policy is that microsoft.com they have the largest law firm in the world at that point it was simply copy and paste.

I can understand paying an attorney to drop your first LLC but after your first one it's copy and paste.

With single family properties you could probably just have one LLC with your umbrella insurance. If you want to set up one LLC I don't think that would be much different having a separate for each property. This is where your attorney would have great insight into your pros and cons of doing each setup

@Haley Cisar

Do you know the difference between a judicial and non-judicial foreclosure? I would suggest getting a job as a loan broker lending someone else's money so you can see the guidelines that they have and can build a feel for which loans are going to be good and bad. In the meantime you can put your money in the bank in a CD. The best deals are yet to come

@Chris Snow

I would say this is not a good flip I think your best case scenario is your property appraises for $315,000 which means you're all in should be no more than $220,000 less rehab of $90,000 brings you to a purchase price of 130,000.

Also you're in Cleveland of all places I would think that there are better opportunities out there. I would want to make sure I have a dual exit and my Rents would dscr for a minimum of 1.25x

@Kyle Pascual

First of all I would get out of stock and sit in cash for the short term the Fed as you know just drop rates by 1/2 of a percent last week over the last 30 years anytime that has happened the economy has been in a recession within 6 months and the stock market has had a massive correction. You can couple that news with the news out of China today that they have decided to cut their interest rate, lower Bank Reserves, (banks can lend more money) and make it easier for people to buy houses and they are also actively pumping money into their stock market which is to say we were going to have the massive inflation going forward.

A couple of fun facts for you.

1. Less than 2 percent of Americans own physical precious metals gold and silver.

2. The currently the spot market for silver is oversold by a ratio of 400 contracts for every one physical oz.

One of the investment strategies I currently like is purchasing physical silver taking it to money medals in Idaho they will give you a margin loan against the silver for 75% of the value. Take that money and purchase Bitcoin.

I told you the story about China because they're QE is going to be a boom for Bitcoin.

I know we're on a real estate forum, but in my opinion of over 15 nearest investing in real estate you really need $100,000 minimum to make your first investment, especially when you are looking at out-of-state passive investing if you are dead set on real estate I would recommend reading some books on wholesaling I'd use your money as earnest money to put the properties under contract

@Andrew Thomas

Sorry you I was shift my focus from purchasing my personal residence to purchasing my first investment property as a realtor you should have access to a program called realist you can easily go in there and search for out-of-state or out of County owners one of the best ways to Market is handwritten envelopes it is almost a guaranteed open versus any other kind of marketing realist has so much information how long people have owned the property with their mortgages Etc I would also try to find as many wholesalers as possible and sign up for their list and look at how they are packaging their properties you will need to go and join some investment clubs a national Club you could potentially join is called Lifestyles Unlimited I'm sure the information they teach is also available on Bigger Pockets at the end of the day if you have a great deal you will always be able to find an investor for it

@Gabriel Pietryka

If I were you I would find a developer that has already completed an office to condo conversion, and form a partnership. Most developers are always looking for Capital and if you already have the project under contract you have the upper hand. I work with several family offices that could potentially finance a project like this with 10% down the main problem in getting financed is getting your project permit ready which can sometimes take over a year or longer. One way to save on the negative carry is to delay the purchase until the very end of permitting. I have seen some sellers wait two years to close on a property those are definitely rare circumstances.

@Courtney Hamilton

I have found that my rental listings are no longer Auto pushed to Zillow even though Zillow generates by far the most traffic for a rental listing almost 70% of the leads are from Zillow

When you do your market analysis I would highly recommend pricing your property $50 below your competition because best products and best price equals the best tenant. When you go for the top dollar on a rental listing usually get the people who are rejected from the good leases because of credit and other issues