All Forum Posts by: Jeffrey Grieshop

I'm reading Josiah's book now and I like it. It starts off slow, a lot of talk about trusting in the lord and doing business in an honest way. I'm like 60% through and it has gotten better but there are like, no wholesaling strategies. It's all about doing business the right way. For example, if someone wants to blow steam and bite your head off, don't let that affect how you live your life, just carry on as a happy go-getter. Stuff, like that. It's a lot of hoopla and self-help stuff but not much wholesaling tactics, at least thus far. But, the last few nights of reading I have enjoyed it. It's titled Wholesale Abundance. 

$250 seems like a steal. I've been quoted $150 per hour and $275 for use of camera + $90 for every hour spent working

What my title and description state, please help. I am trying to run some comparables and get a good feel for how I should be comparing these two's values. I think a structured duplex should be of bit more value. They were built as such so the rooms should have a better aesthetic as a whole or layout, correct? Often times duplexes come with two garages and a hacked SFH may not, so I am aware of the value of an extra garage. That is of $10k value or so, agree or disagree? I think that's about where Anson Young placed the price of one in a video or discussion I saw from him(Denver area market). Heck, it might have been upward of $20k, I now forget.

Please help with the original subject though. Let's say we have identical multifamily buildings, units of 2. Literally identical in year built, sq ft, condition, location, etc. However, one is a duplex with one extra garage and the other is a hacked SFH, which value comes in higher? at what percentage?   

 It is possible. They don't have to own outright to get seller financing. If a seller has 20% equity, that 20% can be negotiated on seller financing terms.

@David Bachur that is the Biggerpockets rental calculator that comes with a pro subscription. It is quite informative and easy to use!

Ask him for some seeds imo

Why would REI Pro list 100% "potential equity" but then it is also showing as a preforeclosure, lis pendens, filed 1/24/20?

So, this could be paid off in full but that doesn't mean it is. If it's paid in full and in preforeclosure, it would almost have to be that they are not paying property taxes, right? Can someone look at its prior history and breakdown what they think is happening? It's showing a $92k loan taken out in 2011. If that's the case, there is a very slim chance this property is paid off.

Would REI Pro, for any reason, report a preforeclosure, when it is in fact, not in preforeclosure?

Pics are very small - here are the details of the mortgage info history(format is not perfect and I can't fix it):

kind of a whirlwind in some ways which has led to too much stagnation(I've never owned property outside of my primary). I am caught between if I want to traditional finance, HELOC, Owner finance, cashout refinance, or subject too

I think I want to invest locally to start gaining experience and more grit, skin in the game, opposed to turnkey remote investing. I am in a rural market, somewhat in between Lima, Ft Wayne, and Dayton (I'm only about 2.25 hours from Cincy too). I mean there you have way more people and I have seen good rents compared to purchase prices (1.3%, maybe better), maybe some appreciation plays.

I'm definitely an analysis paralysis type guy. I just find it incredible how many different ways I can approach REI and then that leads to me not making any offers or finding any real clear direction. I know that buying right is really the name of the game, simply finding deals.

I'm going to focus on that and start targeting some lists and see where that gets me. I want to get good at real estate investing and I know talking to sellers is a huge part of that, so that seems like a good place to start. I need to focus on finding the best ways to talk to these people. From there, I don't care anymore. Perhaps I can wholesale it, flip it, or hold it. I have always wanted to do buy and hold but I also have accepted the fact that if I am getting good leads and making offers/getting them accepted, then, in that case, each property is unique, maybe I can't just buy and hold them all. I may have to flip them or wholesale them. I don't want to wholesale though, not blatantly. I don't have a buyers list or the connections and I don't really want to advertise a contract. With that said, I would be open to a fix and flip.

I guess, when I am honest with myself though and I ask myself what I really want, I want one or two properties to start for a while(7 - 15 months). I want them local and I want to keep them updated and nice, in nice neighborhoods(at least C+). I only want to take on a smaller, cosmetic type rehab. I want to attract and demand a good tenant, one that will treat my property with respect. I am still open to SFH, or small multifam(2 - 3 units). I want a CoC return of 11.5%.

I'm going to focus on my last paragraph, and only my last paragraph. I am going to start looking for deals and focus mostly on that. Acquisitions are the name of the game. I will let some of the other stuff take care of itself.

I will be posting about an acquisition on this forum within a few months!  

I guess I should also note. I like the idea of creative financing. It seems that can go far. It also seems that it is a bit more advanced and I don't want to put the cart before the horse. But I can't limit myself either. I just know, when I use BP calculators, closing costs and APR's really crush an ROI. It would be nice to bypass that stuff!

awesome story, I am not too far north of you, just a few hours, great to hear of your success.

I got sidetracked after reading it for a bit with kids but I am trying to remember exactly what I learned and what I should takeaway. 

Starting out, in your shoes, you definitely showed, "hey, don't overleverage, you need reserves and some patience." It looked like you were doing awesome with all of those no money or low money downs and when things went sour, you did not have the reserves to ride them out. 

But dang, did you seem to grow. You learned from your mistake of over-leveraging. It sounds like you really grew as a person and took that leadership stuff to heart, you took the bull by the horns, and went out and took action. You started solving problems and meeting everyone.

Then, you exemplified the power of momentum. Things can compound fast when you start providing true value. You went out and achieved some great things financially. There is no doubt you benefited your city. You also probably also met some unbelievable people along the way. I may read the whole thing once again because I really enjoyed it, awesome!   

wow, what a story so far