All Forum Posts by: Jason F

This is a simple idea but most people will never do it.

Buy a bike. Put it on your car/in your truck and take it to a random neighborhood. Just start riding it around. You will notice houses you will never notice in a car. Look for vacants. Hopefully these will be people that no one else is contacting because no one is seeing the property.

When my wife and I go bike riding I always take a pad and pencil. She hates it but it works.

What company do you use to service notes, if any? Can someone give me an idea on the monthly cost of hiring a servicing company?

Well, if they are non-performing you will need to be prepared for the possibility of owning the property. At that point, any concerns with the property will apply.

The real test will be....how quickly does it load Biggerpockets

And their name will stay out of public records. With a Foreclosure Judgement, the document will be filed in public records for that county.

You would really be surprised how many people run your name through public records after meeting you/while deciding to work with you.

Yeah, there was a guy on here that was mentioning he purchased a free/clear list that had the name of everyone who owned their property outright.

Could be a good idea to look into that. Good luck.

Sure there are sellers that want to sell less than FMV, doesn't mean most of them are going to hold a note and be okay with the multiple other things that must come together to make this happen.

i'm not saying it can't be done, it just seems like a lot of things that need to fall into place.

I think it's a good idea. A lot of people really have no idea about how easy it is to hold a note. Some think they will still get calls when the toilet is leaking.

I think the major hurdle you are going to run into is that most people have a mortgage on their property which will eliminate them from fully owner-financing it upon sale. If they own it outright, they might just be smart enough to understand it.

Might be a good idea to work on something describing how to hold a second and what their "out" would be if they wanted to cash out of it 3 years down the road. Seems like the number of homeowners that could benefit from you would be larger.

I wouldn't base any income projections on leasing billboard space unless you know the local codes applying to billboards.

A lot of major cities have put a cap on the number of billboards. Some require the business to be "on sight"

Another thing to think about is what will happen to your vacancy rate/rent levels when people see that there is a billboard on your property? Will it be good for the image of your complex?

Just a thought.

I can probably tell you that you aren't going to be happy with the results.

Does meth smoking show up on those test or just meth production?