All Forum Posts by: Jai Sookhakitch

@Matt Sterling Sounds like a great niche Market. You can start by evicting all the non sex offender tenants. They will surely ruin the vision of a home for sex offenders. They will be flying in from all over the US. You can even up charge the rent. It's great to see someone with an open mind taking care of the sick. Perhaps even apply for some sort of grant. Good luck on your venture. 

Ok now that I have your attention, Do the deal if the numbers make sense. Try pushing the bank even lower now that you realize there is a sex offender. You can have them out in no time and you surely will get a good deal out of this. 

Good luck!

@Dave Lion

 All the real estate educational courses are ridiculous in my opinion. Unless your spending your hard earned money on actual deals everything you want and need to know can be found right here on BP or the internet. The best thing I can recommend is joint venturing with experience to prevent any newbie mistakes. It's extremely easy to make a bad deal happen. 

Feel free to message me if you find a deal or need tips on where to start. 

Good luck on your real estate journey. 

@Jarrel Hendersom

 Well Your in luck, I'm a cash buyer. Send me your deals.  Message me to chat. 

Looking forward to doing some deals. 

@Mandy McAllister

The biggest lesson you should learn from this is to always put your real estate business first. Be strict on your lease, qualifying your tenants with good credit, 3xtimes rent income, no criminal background. 

With the condo just make sure to always raise rents with the market and be sure to keep something in an account for reserve/maintenance.

As for the single family home, first thing you need to do is get those tenants out, just make sure to do it legally. Then up the rents to what the market can bare. 

Since your underwater these are your options for the property.

1.Stay and pay it off

2.Loan Modification

3. Shortsale- make sure to chat with lawyers/tax professional to make sure you don't owe anything for the forgiven debt and your lender relieves you of the deficiency. 

4.Walk away - foreclosure 

5. Bankruptcy

Hope this helps. 

@Stephen Lane

 We invest heavily in chicago and the neighboring suburbs. Feel free to shoot me an email. 

So i'm assuming after I attend I get to say I skyped with brandon turner right?

Looking forward to networking. If anyone has Non performing notes or some off market deals come find me. 

@Jay Hinrichs Thanks we're gonna need all the luck we can get.

@Seth C. I like the idea of leasing, I'm just trying to get an idea from fellow investors to maximize my yield. 

@Troy Fisher Yes I talked with title company mineral rights are still active.

@Jay Hinrichs I agree, there is going to be lots of red tape. That's what happened to the original owners. They didn't have enough money to complete. 

What I may do is just flip it quickly to a mining company. I would even let it be contingent on the mine/quarry being approved.  Given that, if anyone has any leads, I'd share in on the profits.

@Sid Franklin One of the biggest negotiation tactics corporations have is that hey bring lots of jobs, I know first hand that many sit with local municipalities and negotiate tax cuts before choosing a location. Should only apply to general pop / small business. (which still sucks) If I'm not mistaken fulton market already has a large google office.

Hey there bp!

I recently acquired a group of parcel's just outside of Seattle Washington. The land was formerly zoned m and with a expensive study done by a geologist we have determined it sits on 500m USD worth of high grade rock. Given that I have no clue where to begin, I'm debating liquidating to an experienced mining company or somehow facilitating the deal myself. Essentially it's a value add project 4 parcels. If any one has any suggestions or experience I'm open to hearing what you have to say. 

Feel free to reply or message me direct.