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If you mean running the contracts via fax between everyone and dealing through email and phone calls as well, then yes it is perfectly viable to do that.

You could do what I want to do. Open up a cafe and use it to promote up and coming music acts and artists.

(I always wanted to be a musician, so I figure, give back to those that need the help.)

cheers,
J

So did you get the blonde? :D

What? It's a deal, dammit. Just not a real estate one. haha. I think it'd qualify under "networking".

Back to the subject, those were definetly funny phone calls. I wish I could see what happens to that guy when he finally DOES get a place. Probably will crash and burn it. Great story.

cheers,
J

What to do? Push on forward.

If you can't get the telephone number, go ahead and start the paper campaign. postcards, leaflets and letters. Just keep pushing.

nd yeah, foreclosures are tricky if you don't have a good understanding of the laws regarding them.

answer? get a lawyer, like Marvin said.

Very ambitious. I like how much thought you've put into it, and the amount of time allows for the occasional snag in the road. Now that you've written it down, its time to do the hardest thing for any investor.

START!

cheers,
Jay

I agree. I think this is probably better referenced as NEW CONSTRUCTION, or at least the stuff I was talking about.

Yeah, just closed a deal on three model homes going up right now. I got it through another investor who acts as a matchmaker for development companies and other investors. This is mainly true for small to mid sized devlopers, usually local, who use the quick capital as a means of continuing construction. I met them at a REIC meeting, and although the meeting was here in CA, they deal with property all across the US. The key term here is quick cash. The developers want you to purchase the house so that they can continue working on the community. Ironically on this deal I thought I'd be paying each house in full (thus having to resort to OPM) but it in fact turned out that the deals were just for just the down payment. It was a package deal and the numbers crunched correctly, so I bit. Each are looking to cash flow about 300-400 bucks a month.

Now for my disclaimer:
Package deals often look too good to be true. Crunch the numbers, do your due diligence, and you'll find the diamonds in the rough relatively quickly.

Education Points:
1) Network. More often than not you'll find deals coming from other investors. This means making the effort and going to those REIC meetings. Just be sure to read between the marketing campaigns and snatch up any free packets laying around. Whether or not they are good deals isn't really a factor, use them to practice deal analysis.

2) Do your due diligence. Research before you do these. What I did was get market information from my company regarding new construction in the area as well as job stability for that region. Especially new construction, make sure to find out what you can.

3) Ask questions. A few of my past deals involved just asking if they were selling their model homes. Ask if they have regional managers that deal with investors. Find out if they themselves are investors. My go between for the developer and myself was investor as well, and purchased a few of the homes themselves as lease-backs.

hope that helped,
cheers!

I'm curious as to the experiences you all have had in doing real estate in Indiana, particularly Indianapolis. I recently got under contract four (or five, still need to hear back from my partner) new construction properties. SFOs that are going to be used as model homes for the purpose of selling the rest of the property to joe homebuyer (lease-backs).

We're already going in on the deal, but what do you all say regarding market conditions over there?

Architect in training. Most of my real estate know how comes from my crazy parents. They've owned real estate for years and are both agents.

From my experience preconstruction can be very lucrative. Make good contacts with developers, since they will more often then not give you good deals as an investor. Also, look into the possiblity of doing lease-backs, IE buying the model home before it is up and leasing it out to the developer. Once all the units are sold they are more often than not eager to buy that property back. And even if they don't, now that the units are all gone, there is a demand created for your unit!

cheers