All Forum Posts by: Jack Bobeck

Read the items out here, the blog and the facebook posts from BP. You will get more of an education here, for pennies, compared to all the gurus!

I hired a woman on Craigslist to write my Yellow Letters, paid her $1 for each. Gave her the template, envelopes, and stamps. She did it all, gave them to me and I mailed them. Easy Peasy!

Jack

@Joshua Gordon Rich Dad is not a scam, but it is very expensive to gain the same knowledge that you can receive out here on BiggerPockets or through networking with others. Unfortunately there is no silver bullet or magic pill in real estate, its work to find good deals and then build relationships to sell the deals. Meet as many people as you can, tell them what you do, this will help you. You should give out 1000 business cards a month. If you are not, you need to meet more people. REIAs are good places to meet like-minded individuals, but the speakers they bring in are there to prey on the masses at the REIA, so hold onto your wallet when they start spouting with their silver tongues.

Jack

@Joshua Gordon We are looking for properties for an investor from South Florida, he is looking for 300 properties THIS YEAR in Jax. We sent him a list of 220 that were under 25k, all reo properties, but that is what he wants.

There are still a lot of investors who are drinking too much to the good times, thinking their products are better than they really are, foreclosures and REO are still everywhere in Jax, so finding opportunities is not hard, make sure you run good numbers on your properties, cap rates are not as simple as rent / purchase price, many of the homes have been sitting for years and need work, so factor in repairs, taxes, liens, etc.

Have fun, I am in Jax, drop me a line if you like. My wife is a Realtor, I have 7 rentals, 3 rent to owns and 1 flip at the moment.

Jack

@Kelly L. I would make sure you check your HOA documentation to see if you are even allowed to rent out the property.

@David P. Here in Florida, new insurance policies on properties sometimes need a 4-point inspection (roof, electrical, plumbing and AC) to help the Ins companies know what they are insuring. Normally a GC can do these, and sometimes it helps lower premiums. Ask an independent agent if something like that may help you.

Best of luck,

Jack

Until you own it, save your money. Then use your own prop mgmt firm or foreclosure people. Control the process, get them out and then get new people in. Holidays are tough, but this is a business, not a charity.

Best of luck to you,

Jack

Look up Jeffrey Taylor, Mr. Landlord dot com. He is in Virginia too.

Very good resource!

Jack

@Kevin Martin I believe Orlando has the lowest unemployment of major cities in Florida. Jacksonville is not far behind, but Orlando has also landed on a number of cities with HOT growth, as the economy comes back, people are going back to see the "Evil Mouse", it is a great destination city for sure.

With regard to construction loans, I know BBVA Compass has some great programs, Everbank too. Trustline Mortgage is a broker of mortgage products, they may have construction loans available, but most investors I know have been using private or hard money of late.

Abe,

If you really want to sell quickly, find a good realtor, run comps, and then sell at a discount the values of the area. Remember, the holidays are coming up so if you are serious, find a Realtor you like and trust and get going.

Best of luck to you,

Jack

@Regina O. Welcome to BP, add a picture, stay a while, learn all that you can.

Jack