All Forum Posts by: Rod Hanks

Yes, I'm sure there are some investors or builders that would be interested in these homes. When the insurance company determines that it would cost more to repair or rebuild than the policy limit, they consider it a total loss and pay the policy limit. For example if the policy limit is $250,000 but the estimate of repair is $300,000 they pay the policy limit of $250,000 and consider it a total loss settlement. The homeowner is free then to sell the lot or rebuild from the settlement. Most of time the homeowner will sell the lot and hope to make a profit.

Welcome to BP!!! There is plenty of information here to get you started without paying a dime. Connect with investors in your area thru the local investor association. Before you go to a Than Merrill seminar do a key word search on real estate gurus and decide if it's worth your time and money.

Welcome to BP!!! I'm in Cedar Hill but have rentals from Greenville to Waco. Feel free to connect..

I've been getting a lot of deals emailed to me from wholesalers and I'm not not sure why anyone would pay more than lot value for those homes. The insurance companies have determined that they are total losses yet these wholesalers are asking for 20-30k more than the lot is worth. I don't think they are selling because I keep getting the same ones emailed to me.

I use it just for a quick reference, but they can be way off most of the time. Real comps from an agent is the only way to determine value.

Congrats!!!

Hi Veronica, the absolute best way to find a mentor is to find a deal and to partner with the investor on it. Connect at local investor meetings and get involved. I'm a member of NTAREI and we meet monthly at the Holiday Inn at Preston and 635.  Feel free to connect with me, I would love to answer any questions you may have.

Welcome Brenda, I live in Cedar Hill and work all over DFW. Deals are everywhere. This site has everything you need. Feel free to connect anytime.

Welcome!!! I'm in Dallas Area also, please feel free to connect.

Welcome!!!