All Forum Posts by: Tom Mendez

http://www.biggerpockets.com/forums/520/topics/187...

Try the post above for possible contacts regarding.

Best to you!

TM

William,

The challenge is in knowing the economics of the areas you are hoping to invest. Can you not enter the country? If you can, then you'll just need to jump on the bandwagon with the other major international investors and start up.

Best to you!

TM

Carlos,

I like it!

Next time see if you can make the change and still keep the same renters--a challenge. Did you make some sort of positive statement to them about the increase?

Great job!

Best to you!

TM

Hi Kayla,

I would start with your local REIA group to find out who is working the area for similar properties. Then find a commercial realtor that you like--and eventually trust--and see if they are willing to help out. Build relationships.

Try some of the organization around the country. Just Google,  "association of mobile home park owners" to see what comes of it.

Best to you!

TM

David,

That is a laundry list of questions, to which you'll probably get a combination of answers.

The quick of it is this... JBLM is always a strong investment area for rentals--it's a military base. However, they have also just let go of something like 25k personnel from that base this year. What adjustment will the area experience??? Ask some of the local investors.

The area itself has been in growth mode, but so is most of Seattle, and the NW in general. Look at the market. Study the economics of the area. 

Short of that, just start making some calls to realtors. I wouldn't take just one, or even two, persons word for what is happening around here, and then let that direct what you both should do.

Look forward to meeting you in the area.

Best to you!

TM

It depends on your negotiating skills.

"In my experience it is difficult to get someone to pay more than $10,000 for a contract assignment." 

This depends on the property size. If someone is telling you that you only deserve $10K, and you agree, then that is what you will receive. However, if it is a larger property, and you have secured it for a great discount, then you need to find the buyer that is fair, and will pay what should be paid. 

Sounds like you may need to find other buyers.

Best to you!

TM

Welcome! Love the "go get'em" attitude.

Best to you!

TM

Hi Syreeta,

Yes. It is under contract. Don't try to pull that relationship apart, you may hurt relationships down the line by doing so--you don't really know who that realtor is or knows.

But, if you like the property, keep an eye on it. Who knows may come of the property. Introduce yourself to the homeowner. Tell them that you like the home--be specific and honest about what you like. So if it doesn't sell, and does get to a point of distress and possible wholesale, you already know the owner.

Best to you!

TM

Hey Doug,

Thanks for the post.

I have a friend living up there, and he keeps me up to date on the RE goings on. This doesn't surprise me, but still a questionable thing happening in our area--and in Canada too.

Best to you!

TM

Would you buy it for yourself? If it were your money, is it worth you spending your money on?

Best to you!

TM