All Forum Posts by: Jeff Cichocki

@Scott Brooks I'm 99% sure it will be removed from the property after the confirmation hearing. But, it won't get wiped out completely. The seller will still be obligated to pay. But, to be safe, check title after you get it. It happens more often than you expect that things that should be removed aren't. If it's not, you can appeal to the judge that did the confirmation. If they won't help, you could be forced to file a quiet title action to clean up title.

What does your current funding look like and what are you trying to improve?

This may sound like a rant, but it's not. I just want to point out a few things tgst it seems many people in this post are missing.

First... I'm not a wholesaler.

Second... Those of you ripping on the wholesaler for his profit, dont. You're assuming that the seller got ripped off. Do want to know how you know he didn't... He said yes to the offer. When a seller says yes, they are accepting the deal. Whether or not he could have gotten more is irrelevant he said yes. He accepted. He had his reasons. Those reasons are his and no one else's.

Third... I'm a hml in Wisconsin and I think It's ridiculous that your hml has an issue with this. Based on the numbers provided, if they give the loan, the are very secure. This is a low LTV deal. Hml's give asset based loans. Is this a good asset? Sounds like it to me. They should stop worrying about it.

Fourth... Stop criticizing what everyone else is making. Its irrelevant. Is it a good deal for you. If it is, you say yes. If you say yes, you close (unless you discover some serious issues during your due diligence). It's called character and integrity. We need more of this morning in our industry. Yes there are shady wholesalers. But there are also shady flippers, contractors, landlords, agents and retail buyers. The majority are good honest people. The rest need to just be identified and avoided.

Hopefully my comments help keep everyone focused on what's important. Do good business with good people and all these issues go away.

Hi Jeff,

We will lend below $100k. We're based out of Green Bay, so we're local to Wisconsin.

If I can help, let me know.

@Joseph Hammel yes. You will credit so that your not double taxed. But you will file in both states.

@Joseph Hammel you'll be filing in both states because you have income in both states. No way around it. They both expect to be paid.

SPECIAL NIGHT!!

WE ARE MEETING 1 DAY EARLY DUE TO THE PACKER GAME ON OUR REGULAR NIGHT

Doors Open @ 6:30 PM for Registration & Networking.

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We’re continually told that to reach our full potential as real estate investors, we must work outside the box. At the beginning of Bill’s discussion, he’ll explain why this often-given advice is wrong. It’s not about working outside some box that counts. To reach our full potential, we must realize there is no box!

To be a successful real estate investor, consider this: The job of a real estate investor is not to buy, sell or rent houses. Our job is to solve people’s real estate problems.

Do you want to achieve financial freedom? Then don’t go out looking for “deals.” Instead, look for people to help and problems to solve. In other words, discover peoples’ uncomfortable circumstances. This one shift in your thinking can completely alter your life’s financial outcome.

To make all deals possible, you only need to do five things:
* Get face-to-face with sellers
* Be curious and ask questions – a LOT of questions!
* Know how to make a Teeter-totter Offer
* Know how to make a T-bar Offer
* Pay attention when the seller tells you how he/she wants their deal structured

At the REIA meeting, as we talk about creative deal structuring, you'll walk away with a clearer understanding of these five most-important things.

You’ll also see examples of a number of our creatively constructed and funded real-world deals. In addition, we‘ll answer these four deal-making questions:
* How was it found?
* How was it structured?
* How was it funded?
* And once bought, what did we do with it?

Speaking of finding deals, you’ll see the fastest, cheapest and most effective way to get face-to-face with sellers. Which marketing technique will get you to sellers’ kitchen tables 80% of the time? Simple answer: Knock on the seller’s door!

I know, lions and tigers and bears, oh my! Bill Cook has made his living knocking on homeowners’ doors for nearly 50 years. Bill and Kim’s real estate investing business was built square on the back of knocking on sellers’ doors. Bill is one of the best and most experienced door knockers in the country. This is something that must be seen to be believed!

Finally, here are a number of questions we promise to answer:

* What is the best way to learn how to creatively construct and fund a deal?
* What type of deal is the safest to do, and still offers the highest yields?
* What is the best way to get owner financing or find private money lenders?
* When a seller calls, what two questions should you ask?
* What’s the best way to determine a property’s value?
* What’s the most you should pay for a property? (This answer will floor you!)
* When an investor is sinking, what two questions do I ask to determine the cause?
* Is it possible to make five written offers each day?
* What needs to be your daily goal?
* What does it really take to succeed at real estate investing?

We look forward to seeing you at this month’s main meeting!

To learn more about Bill and Kim Cook, please go to CashFlowREI.com

To learn more about the Green Bay REIA, please go to GreenBayREIA.com

Remember... If you're not writing offers, you're not making money!!

Bring A Friend!! Let's fill the room!!

Topic: Landlording & Master Leasing

Hosted by: Jeff Cichocki & Derek Dombeck

Guest Speakers: David and Mary Tilney

David & Mary Tilney started investing in real estate in 1978. They bought ‘subject-to’ properties and sold using ‘wrap financing’. They bought foreclosures, defaulted notes, and property tax liens as a way to acquire properties. They have negotiated discounts on IRS tax liens, received non-recourse bank financing and zero percent owner-financing when acquiring single-family houses.

What is the safest and easiest way they have found to build income and wealth in the real estate business? Come find out this Thursday. David will answer any questions regarding single-family house investing and help solve your landlord problems. You won’t be sorry!

David and Mary have been married for over 45 years. They have three wonderful daughters and sons-in-law and eight grandchildren. Mary and David live eight months in Naples FL and four months in Colorado Springs. They have no employees and manage their properties from wherever they are.

Location:

Holiday Inn & Suites Green Bay Stadium

 2785 Ramada Way

Green Bay, WI 54304

Meeting Date & Time:

Thursday, July 11th from 7pm - 9pm

The Green Bay REIA Meeting Starts at 7pm, with the doors opening at 6:30pm for networking.

You can enjoy some Food and Beverages from The Golden Greats Bar and Grill in the Hotel Lobby.

Feel free to stay after the meeting ends at 9pm to continue networking.

Come ready with Questions, and Bring Your Deals!

The Green Bay REIA is the FIRST Real Estate Investors Association in Green Bay.

• Your First Meeting is FREE!
• After your First Meeting, Non-Members are $15.
• Yearly Memberships cost $100 (or $8.33 Per Meeting). Let us know after the meeting if you'd like to become a Member!

The Green Bay REIA Meets the Second Thursday of Every Month from 7pm - 9pm, the doors open at 6:30 for Networking.

@Olivia Stramara... Wisconsin is a judicial foreclosure state. Read this. It explains the new time-line for foreclosure.

https://www.bosshardparkelaw.com/update-wisconsin-reduces-foreclosure-redemption-periods-targets-zombie-properties/

If you win a property at the sheriff sale, you still don't own the house until after the confirmation of sale hearing (usually 2-3 weeks after the sale). There is no rights of redemption for the homeowners once the sale is confirmed.

@Steve Bittorf estimated fair market value plus some formula. Every county in the state can be different. There's no simple answer to your question.