All Forum Posts by: Tom Mendez

Chris,

Ask your buyers for their POF, then just show that to your seller--remember to hide the name, address, etc. before you send.

Best to you!

TM

Juan,

Often times those details can be found in public records. It will usually state how much in arrears the loan amount is, plus fees/fines. Just calculate that against the original loan amounts--which is also usually stated on those docs.

You may want to consider BP's system: 

http://biggerpockets.foreclosure.com/

Best to you!

TM

You are trying to catch attention where most people have learned to ignore those postings. 

Getting the attention of the sign police is just what it is. Your going to have to just spend, lose, and keep posting.

Best to you!

TM

Kyle,

You are in a great position for buying rentals. You will be seen as very credit worthy very quickly--try to maintain that, by the way. You will have the opportunity for travel to get to see and know other areas. Your travel can be free--at least it was for me when I was in the Navy.

Just start learning, you'll see what it takes.

Best to you!

TM

Christie,

What is the trouble that you are running into? Poor credit? No history of credit?

TM

PJ,

Depending on your location, the police probably already know of the area and what is going on, and they may be too busy to help--especially since the problem property isn't yours.

How is the neighborhood doing? Are there other investors in the area? Ask them what they think about this property/owner, and how best to get through to him. Ask him if he wants to purchase your property before he runs its value into the ground. 

Talk with others at your local REIA location to see what they think. Probably your best start since they know the area.

Best to you!

TM

Getting into the Marketplace here on BP will help as well. I also agree with J, everyone in your area who is actively involved in investing will know one another. It is always best to be with your local REIA Group. Maybe throw in a Meetup Group too.

Best to you!

TM

Jonathan,

You have already made a great start... YOU'RE HERE!

BP has a tremendous amount of information for beginning investors. You could literally spend days just learning from others on this site, and researching the basics. Ask questions, listen to podcasts, take your time, get the clearest picture you can.

Welcome, and best to you!

TM

Benjamin, 

One way is to take a look at the houses that have sold over the last three months or so--Redfin or another real estate site is good for that. Is it rising? Good indication of buyer demand.

Go to your local city or county building permit office, and ask for a copy of the last years permit applications/approvals numbers. Are they on the rise? Another good indicator. 

These are just a couple of ways. I would recommend learning more about emerging markets, this will help for the long run.

Best to you!

TM

Terry,

It is always a process. What I have learned is that the local police are probably very aware of the individuals that work the area, and more than likely, the ones that are located at the property. Go to them, let them know that you are purchasing the property, and are going to work at cleaning up the location.  Ask if they can recommend any added security measures for the property--that may get them a little more involved. The problem comes when you have no neighborhood support--if the whole neighborhood is bad, you may want to pass on the deal--any time and money would be wasted cleaning up the place, only to see the problem come back later.

Best to you!

TM