All Forum Posts by: Jeremy Shinall

@Elizabeth Colegrove I'm beginning to be 'not a fan' of condos, as well. Thanks for the feedback!

@Brian P. You're right. My buddy is not desperate or troubled enough. He may never 'come around' - equity or not - just like in your story. Thanks for sharing that!

@Joel Owens With no equity, I it seems waiting him out would be the only wise choice. Alas, the added complexity of being in an HOA makes me lean towards just leaving this alone. Thanks for reminding me that one doesn't have to be in a rush!

@Account Closed Doing some 'comp research' is a great idea. Who knows how long ago the owner bothered to check?! I like your suggestion about gleaning landlord experience from him. What a great idea. Thanks!

I just finished the "How to Evaluate and Market a Wholesale Real Estate Deal" webinar by Brandon Turner. One of the 4 C's Brandon mentioned in "Color" - a design that is aesthetically pleasing to cash buyers. Your letter is for investors, but I would think the principle still applies.

So, forget I asked about why you went with such an engaging (instead of 'boring') design. It's fantastic!

Hi @Andrew Davis ,

I love the creativity and thoroughness of this letter! It does a great job of showing off all the hard work you've put into finding this deal. I may even draw inspiration from some parts for myself!

What prompted you to create such a letter? Are you targeting investors with whom you have no relationship? While I love the layout, something in me wonders if investors wouldn't rather just see the numbers and the terms in a more 'boring' format. Your approach here seems pretty similar to sending out resumes - and it's a great strategy for the right audience.

Great job. It got my attention!

@Patrick L. - I was thinking 'subject to' or 'lease option', but I wasn't sure if it was worth taking on the other negatives, like the equity. Thanks for confirming that it's not a good idea.

@Ryan Dossey - Great point about the HOA fees! I'm willing to bet those would make selling this property harder for anyone. Thanks for the feedback.

@Jesse T. , @James Wise , @Arlan Potter 

Thanks for the quick feedback! It seems we have a consensus that this isn't actually a deal. I'm glad to know that this probably isn't a 'hidden gem' that I would regret not pursuing.

Hi everyone! I'm still a newbie that's learning to crawl in this REI world. In looking to find my 'first deal', I had a conversation with a friend about his condo property.

He purchased this condo in 2007 as a 2nd investment property. 6 years, a marriage, and a move of primary residence to the other side of town later: he's a landlord that likes being a landlord when the condo is rented and finds the 'tenant turnover' phase rather annoying.

He owes 'about' $120K, while the property is worth 'about' $105K (according to him). It's a fairly turnkey property. My friend is neither motivated nor desperate, but I can't shake the feeling that this is a deal worth pursuing.

What would you folks do in my situation?

Thanks, @Justin Stamper and @Ryan Kopczyk. I was looking forward to the round-table on the 22nd. Alas, I was called out of town for work this week. I'll catch you at the next one.

Hi everyone! I'm Jeremy Shinall from Orlando, FL (migrated from Peoria, IL, in 2005). I've been in IT (Information Technology) since I was 15 years old. 20 years later, I'm a software consultant for SAP.

I've been intrigued by real estate for years and have finally decided to see what it's all about. I joined the local REI (CFRI) to get more plugged in to my local market. Ultimately, I want my money to work for me long-term. There's no better way to do that than real estate!

I have no idea what I want to do. I am pretty sure wholesaling isn't my niche; perhaps landlording. Alas, I currently have almost no money to lend or invest. Therefore, my short-term goals are to network here in the Orlando area and soak up as much information on the industry as possible.

I came across the BiggerPockets forums via the podcast, which was a suggestion from a fellow BP newbie (Samuel Muñiz). I'm listening to all the podcasts in order and plan to sit down with the beginners materials this next week.

Glad to be here and hope to start contributing soon!