All Forum Posts by: Jacob Blackett

Hey Nick, we have completed hundreds of real estate buy & sell transactions using eSign services. From my experience, DocuSign is a leader in the space. We used DocuSign for the longest time, however it's not the cheapest option. 

Another good option that we have been using recently is CudaSign. This is a cheaper option to DocuSign, and has been working very well for us. You should be able to create an account with each and test it out to see which one you like best... 

Good luck! Jake

Hi Jennylynn, if you are looking to purchase at auction, you will need cash like you said. I've never heard of a lending organization who has worked with this. 

If you want to purchase at auction, you would have to create a relationship with someone who is willing to give you cash before you buy the home, so someone along the lines of friends & family... if you are new to investing, I wouldn't recommend starting at the auction. Auction could be a great place to learn, and meet some of the players in your area, but your attention might be better served if you focused on off-market properties- or even properties that are listed. 

There's a TON of info on this site for those just getting started, so I won't blab on too much ;)

Happy investing & good luck! Jake 

Hi John- big hello from Indianapolis! 

1. I'm sure you've seen the full list of providers. Recently, I have heard good things from what Tucker has to offer... 

2. What are you thinking about doing with REITs?

3. Unfortunately I can't help with this one. 

Best- Jake 

Hey Jameal, most hard money lenders will not work with you if your plan is to live in the property. By most, I mean that I've never run into a hard money lender interested in that situation. 

However, that doesn't mean it's impossible. For example, I bought & renovated a property with the initial plan to sell it immediately after renovation- your typical flip. I borrowed money on the deal from a hard money lender. After renovation, I decided that I wanted to live in the property. So I worked it out with the HML and ended up getting a refinance loan from my bank to cash out the HML lender 6 months down the road- I offered him 3 pts on the loan balance to work with me on it.

So... if you have an exit lined up for the HML, then they are typically all ears, you just have to sell them on your ability to execute.

Happy investing- Jake 

@Benjamin Cowles no problem! Leads are only as good as you make them. Be prepared to think creatively, and most importantly hustle. Don't be afraid to make mistakes. Like @Eric H. said, take some action and work your plan.  

Welcome, Dani, and good luck!!! You have found an amazing resource. 

Welcome to BP, David! So much information here... you're in the right place! 

Good luck and happy investing! 

Hey Quincy, do you know any real estate investors in your area? I found my current CPA by simply approaching a very successful investor at a local meetup and asking him for a reference. After I connected with the CPA, and asked him about his experience with real estate clients, it was a clear decision. 

@Benjamin Cowles Great job getting things started. You have a lot of questions packed into this, but let me just tell you about my mailers. 

We experience a 1% success rate. So if we're mailing 1,000 letters/post cards, then we're seeing about 10 deals that we can make money on- one of those being a great deal, another 5 that are good & the remaining deals marginal. Our call rate is closer to 15%. So about 150 calls from those 1,000 letters. 

We mail out to areas on a 3 to 4 month rotation. So a specific owner may get 3 to 4 letters every 12 months if they own a property in an area we want to buy in. 

We typically see a minimum profit from the letters of about 10x what we spent to get the letters out. So if you're spending $3500, & assuming you can work leads, you should be turning $35k profit. 

All the best- Jake 

Hi Beth, 

First off, I'm sorry to hear about your cancer, and I wish you the best of luck. Breast cancer runs in my family & fortunately I still have my loved ones who have gone fought it- it's great you are looking into real estate! 

My initial thoughts here are to make sure you can structure your investing so you are a passive investor instead of an active investor i.e. you don't "materially participate". You can flip homes, passively, so long as you are working with other people who are doing most of the leg-work, maybe that's where your sons could come in... 

Purchasing rental properties is definitely a passive form of investing. 

If you haven't read this IRS Article, it may be helpful. Of course, consulting with a good CPA could be of great value in your situation. 

Happy investing!