All Forum Posts by: Glen Andrews

Hey Devin, this might be a stupid question, but you said you got calls from sellers looking to sell; why not list and try to sell their property as you continue to look for rentals? 

I don't know how many sellers called you from your marketing, but you could possibly sell these leads to investors, or to other realtors. 

If you need quick cash go down to your local real estate investing association and offer to list investors houses for a flat fee. I worked with a realtor/broker who listed all my houses for $300.00 and I paid the buyers agent 3%. He made good upfront cash from lots of investors. And he made $300 up front whether the house sold or not.

Hope this helps Devin.

Hey Ben, do you belong to your local real estate investment association? If not, this is a great place to connect with like minded people doing exactly what you want to do. 

The quickest way to succeed at investing is to find the people who are already succeeding and ask them for help and feedback. And if this is your business of choice, learn everything about it that you can. 

The most successful investors that I know are learners and action takers. They all learn as much as they can, implement what they've learned, make mistakes as they move through the process, and they keep pushing forward.

Good luck Ben!

Roger, let me know your email and I'll send you a good lease agreement. 

Hi Sarah, if you visit your local real estate investors association you'll find hard money lenders that will help you fund the deal, or you can ask an experienced investor to become your partner. Just understand that if the investor has to fund the deal, they'll probably want more than 50% of the profit, but you'll be able to learn a lot from their experience, and you'll make a little money in the process. A win/win for your next flip!

Toula, I had many rentals in Seminole County Florida. I don't think the laws are much different. If you never had a written lease agreement with the tenant, then you would put "oral agreement." And I believe you're looking for injunctive relief (tenant should pay or leave).

Injunctive Relief: specific performance, in which someone who enters into a contract is forced to perform whatever promise has been reneged upon.

Best luck Toula!

Trevon, I don't know what your postcards marketing message is, but in the marketing world, you always test small first, then if you get a good response you mail to the remaining list. I would test your message with 500 first. 

Hi Trevon, you don't need a license in order to create a website. However, you can't put an LLC or Inc after the name. That's pretty obvious - right? But you can make it look business professional.

Hey Dan, If you're just starting and haven't done a deal yet, starting as a sole proprietor is fine. That's how I got started back in 1997. However, after you do your first deal you should consider forming an LLC. This will help with taxes and shield your personal assets.

Good luck Dan!

Hi James, go down to your local real estate investors association and let wholesalers know the type of property you're looking for and your price point. If a wholesaler knows your situation (tradition financing) they will structure their contract so that it works for everyone. 

Good luck James!

Hi Roger, I don't know the landlord tenant laws in Melville NY, but in most cases, anyone residing over this case would go strictly by your lease agreement. 

It sounds like you need a stronger lease agreement that spells everything out in clear terms, so that there's no misunderstandings later. (I can email you a strong lease agreement to review if you want)

You may also want to take pictures of the damage done to the property and bring them with you to court. It would also help if you had pictures of the property prior to them moving in, so they could clearly see the damage.