All Forum Posts by: Mike Jakobczak

@Annelise- well if your from a small town, you might have to be the first one to start the club and educate everyone who wants to learn to play. Most bigger cities we'll already from a few clubs started. I use to promote at local real estate clubs, libraries, etc. You can browse through website like BP or craigslist to see if anyone in your area is interested in playing.

I think whatever is selling the fastest in your area is best for your situation. If retail market is selling fast then that will be your best option.

Some areas are high rental areas, which your main buyers are investors, so a nice discount with a tenant in place will sell fast.

All depends on the market you are dealing with and the type of property.

Yea I hate when people are in customer service jobs and do a poor job at it. I wish more people cut off companies when they mess up or at least bring it to someone's attention, so it wont happen again.

These big corporations get lost sometimes because they try to expand so fast and forget why they are where they are today.

A simple apology and a correction to the problem is all we ask in a timely manner!

Hope you home depot experience is a lot better from now on!

I use to host a Cash flow club, and built a great group of new and experienced investors.

It's a great way to network and find like-minded people. Great way to pitch ideas and raise funds!

I recommend going to one or starting one in your area.

***Lonnie Deal Update***

Well the week has gone by and after having to rescheduling our meeting to close this transaction due to some last minute plans that came up, we have not been able to get a hold of our seller.

We have called a few times and have left it off with basically saying they have our number feel free to call us if you are interested in the future.

Brings me back to when I use to deal with motivated home owners. You either get ones that drag their feet or ones that wont let you rest for 1 min.

It's just part of the big game of real estate, I'll continue to post and update everyone if this story develops!

Well I think most investors will argue that it is a bad idea. But there is lot of threads in BP with some good info on this subject.

Like any strategy it involves education, and even tho you may be an expert in an area of real estate, once you look into out of state, it's changes everything you may know. So it shouldn't be taken lightly.

Another thing you can put a clause in your contract that states you will be closing with a different LLC and will let them know by end of Due Diligence period. Sometimes they will allow this and sometimes they wont. Depends on the bank,property,etc.

Depends on how active you want to be on your property? If you don't want to be scanning through bank websites, MLS, etc then I would suggest look into wholesalers in the areas of interest. Either way i would want to be on their list of contacts for deals. They may come across some great deals, so it doesn't hurt to be notified.

I would have a good general idea of exactly what you are looking for, type of structure, beds, baths, sqft, price range, rehab budget, etc. Have a realtor that deals with out of town investors, they will usually take videos/more pictures of properties u may be interested if you are not in town.

Welcome!

Who's hosting the long weekend BBQ??

:D

Hey Andrea,

Welcome to BP! My advice is stick to what works!

Learning how to raise private funds is part of being a real estate investor. At some point in time, you'll always run out of cash. So learning the creative side of financing and raising funds is a must.

That being said if you need some private lenders to cash out some of your funds I may be able to help you out. =)