All Forum Posts by: Stephen Schoon

@Account Closed, Is there a screening service you would recommend that includes public records (in addition to credit, criminal, etc) ?  Or are public records something you generally just have to dig into yourself?

Welcome, @Ryan VanFossen!

This really is a great place to learn and network. If you haven't already let me recommend the BP podcasts, guides (dropdown under education), and the webinars.  I'll also reiterate @Ed W. landlord meeting plug. I've been able to attend 2 or 3 and found it very helpful.  It's hard for me to 'network' because I'm not the gregarious type, but the opportunity IS there. He usually has a very informative presentation from a guest speaker, And if you're looking to make connections there's almost always agents, lawyers, and of course (very) seasoned investors in the group.  If you can make it tomorrow (8/25/16 thurs) make sure to say HI to me! :) I plan on being there.  I usually block out a 6-10pm window for this.  While you can come and go as you please, the Q&A at the beginning can be very useful (people sometimes as questions you haven't even thought of yet!) and the networking after the presentation can be invaluable... you never know where that next deal will come from.

Cheers and good luck!

@Amanda Roderick we just might have to do that sometime :)

@Corina Eufinger your side tip is very interesting. Unfortunately my days are filled with oil and wrenches now.   Also an interesting thing about the caffeine, while it does little for me, I've seen some people bounce off the wall after a couple cups.  Out of curiosity, do you have any buyers/sellers remorse due to maybe more loose inhibitions? or do all your transactions over alcohol turn out ok... at least as far as the alcohol is concerned?

Thanks for the replies guys and gals! I appreciate it.  My wife said she would prefer lunch due to it universality of acceptance. She's not huge coffee fan and I know she's a lightweight too. Hehehe cheap date lol

@Daniel Hanson, Absolutely! ... of course now there's distance issue to work out ;)

@Daniel Hanson, yeah, I can see that.  My day job basically means the only time I have avail is in the evening, which of course presents itself well for a beer.

Ah, ok, I understand now.  The Columbus market is so hot now (mostly) everything on the mls is overpriced, imo.  What I was trying to get at (and perhaps failed), was that instead of waiting for a property to come on market, I would approach the owner directly and try to work out a mutually beneficial deal.  I absolutely will not overpay for a property.  I'll wait another year if I have to to ensure i make money when I buy it and what i buy will cash flow.

So while I don't know for sure if these letters will work, I do know it's totally worth the time even if I don't land a rental.  Just by getting my name out there it's worth it.

 Sorry Davyd, I'm not following you.  What do you mean by 'if its a stupid plan?' 

And I'm not investing in PA because I don't know the area. 

Mayhaps this is my over-casual side coming out or my love of a good (craft) beer, but why don't I ever see anyone ask another out for a real estate investing discussion over a beer?  Is it the professionalism?  Is coffee more professional than beer? Is it the fear of getting schwillied or watching someone get schwillied? Maybe it's because coffee (can be) cheaper than (good) beer.  I can't believe it's because more people like coffee than beer. While I know more people who don't like beer than those that don't like coffee, it's not by a large margin.

The Columbus Ale Trail this year (2016) has over 25 different LOCAL breweries all in the greater Columbus area and most of them have an amazing line up in their tap rooms.  There are few things I like better than hopping into one of them and trying something new.  Heck, I like it so much I started brewing my own.  In the culture I've seen here in cbus, it seems a relatively appropriate thing to ask someone with regards to a meeting.

So why do you think beer (and I do emphasize beer not 'drinks') is taboo?  Better yet, if you have chosen not to, why don't YOU ask others out to talk about rehabs or rentals over a beer? (and the answer of 'i don't like beer' is inadmissible, this question assumes you like some kind of beer if you answer).

And while I realize the simple question may in fact portray me as 'less professional'... or worse, I'm willing to ask because I really want to hear.

Thanks!

So I've decided specifically where I'd LIKE to start buying rentals, but, as expected, there's nothing for sale (and if it were on the market, it'd probably be overpriced anyway).  Thus, my wife and I figured we would mail some/all of the owners of the small multi-family property (2-4) owners and see if they might want to sell.

The letters will be handwritten and concise.  In the letters will be the typical phrasing like, "I am interested in buying your house..."

My question is more a multiple choice, but with the caveat of a "D: other" which you can fill in if it so pleases you.  Which phrasing do you think would yield the best results (and why)

A. I am interested....

B. My wife and I are interested...

C. My husband and I are interested...

D. Other

I ran this by my investor friend and he recommended I go with a "my family is interested..." and to included a pic of the fam. (my 11mo and 2.5yr old kids are crazy cute btw).

So what do you all think?

Thanks!