All Forum Posts by: James Barnhart

Wish them well and get new great tenants.  

I feel your pain.  Just know that this probably won't happen with him, so don't focus on that negative issue.  

I have wanted for years to buy another home for us to live in, using a VA mortgage and sell the home we have now. But, she doesn't want to move, and probably never will.

So, I focus on her wonderful qualities and understand that marriage is a compromise.  We agreed long ago that if either wanted to spend more than $100 on something, we would discuss it first.  Now, we have moved that amount, but we have to agree or we don't do it.  

Being married to her is more important than real estate.  

I think you might do better if you got a list of cash buyers, and talk to each of them individually.  

Ask each one what they are looking for, what they don't want, what price range, and what % below ARV they want. Then, knowing that, you look specifically for those properties, because you have buyers wanting them.

If you have a general list going to agents, you may not have much success.  Many of the properties won't qualify for a mortgage and some owners don't want to list with an agent.  They want to sell right now.  Or, they might be interested in leasing their home for 5 years because they just need out right now.

if you want to sell a list, ask yourself if the list is exclusive, or if many people can find the same info themselves on the web.  

If you think the assessed value to too high, do your "due diligence" to be sure you are correct.  

I filled out an application to appear before the Value Assessment Board to dispute the assessed value, and was prepared to present my case.  A few days later, I was called by a county appraiser about my appeal.  He offered to lower my assessed value considerably, if I was willing to drop my appeal before the Board.  I agreed and got the lower assessment without actually having to do the appeal.  

You might want to do this, too.  I didn't need an attorney.

I would suggest luxury vinyl planks.  It is very durable and is waterproof and looks great.

I installed Smart Core vinyl planks in our home that we bought at Lowes..  My wife loves it and I do too.  Installation was not hard.  I installed an underlayment under it myself, but I was told that was not necessary.

It is about building a working relationship with the contractor, and he with you.  You may both want to do business on future jobs.  He needs to address the thing in the floor, but he needs to get paid.  Why not hold back 10% of what the job costs, but pay him the rest of the money until the issue is fixed.  This is a common practice.  

Hopefully, you got referrals from people that have had work done buy him.  If he  has a good reputation, then he will take care of it.  If he was just the cheapest bid, and you know nothing about him, good luck.

Only do business with good reputable people.  They will stand behind their work, It is less expensive in the long run, and you get a better result.  And, you add that contractor to your team of professionals that help you succeed.  And, you help them succeed.  You build trust both ways, and you both win.  

I see some good points on both sides.

But, I have definitely made a lot of money in residential real estate.  If I had been a renter, I would not have any of it.  I also would have paid a lot more income tax.

And, in the past three years, two of my good tenants have left to buy their own homes.  I say good for them.

I just talked to my mail carrier when he delivered the mail.  I gave him a few cards and told him that I would pay him $300 for house info, if it leads to me making a deal.  

You can do this with a lot of people.  I offered the same thing to a man I met yesterday, when we chatted about his car.

Leah Bonner

Leah Bonnerked to the mail carrier when he delivered the mail.  I gave him a few cards and offered to pay him $300 for info, if it leads to me doing a deal.  I would love to pay him a lot of money.

Ask almost everyone you know or meet, to be a bird dog for you, and pay them if they tell you about a property that you make a deal on.  Call everyone on google and you tube that says they buy houses.  Ask them what they have for sale.  Determine what you want, and don't want, what areas, what price range and what % below retail you want.  Tell them this information.

Contact some Realtors and do the same with them.  Go to RE investor meetings and get to know other investors.  Drive around in your area looking for vacant homes.  Knock on doors and ask neighbors about the vacant house.  I bet they want it cleaned up, and if you get it, you will do that.  Advertise on Craigslist daily to say you are looking for properties.  Search daily on Craigslist for what you want.  Put out your own bandit signs and call the ones you find.  Ask your mailman to bird dog for you.  They can be a good source.  I just asked an insurance agent yesterday to bird dog for me.

This will generate a lot of work for you to do and it's only a good start, but it will also find you plenty of leads.  You need to do these things if you want to do some deals.  They are out there.

Hi Jamiah,

I suggest that you build a list of RE buyers now.  Call everyone on google and you tube that says "we buy houses"  get on their buyers list, and try to talk to as many as you can.  Go to RE investor meetings.  Call some builders and RE agents.  Ask them about that area where the property is located.  Take some photos.  Ask them the value, and who they know that may be interested.  Have some business cards made that say you buy houses.  Hand them to everybody, and offer to bird dog for them.  They will like that.  

Yes, contact the owners and ask them about it.  I would try to call or knock on their door, not send a letter.  Be friendly and chat with them.  They may enjoy telling you about it.

Ask if they want to sell, and tell them that you offer to help them find a buyer.  You are welcome to contact me.  I am a RE investor in DeLand.