All Forum Posts by: Jessica Stevenson

@Richard Koch connect with a local Realtor who you feel understands your business model. I understand your area is not very populated, but you're bound to find a real estate professional if you look hard enough ;) Establishing this relationship will be beneficial for both of you. They can help you determine ARV, possibly find you off-market deals, connect you with buyers who may want to purchase a wholesale deal, and help you build your portfolio.

I'm no marketing expert, but I've always heard that people connect best with faces.  I think adding a picture would be a good idea, and would actually be a quick/easy way to start building trust.  They know you're a real person and not just some huge corporate company.

Search the deed for most up-to-date owner.  If you have a relationship with a local title company, they can help, but easiest way would be to get under contract first and then have them clarify any questions/existence of liens - exactly what @Andrew Monaghan says. Make sure your contract period allows time for this due diligence.  Also have to agree with @Barry Pekin and echo that you should communicate/move forward with whomever brought you the deal - a simple and fair way to operate.  

@Shane Melanson congrats on the success.  Sounds like you could do a podcast on all the valuable lessons learned here.  You'd be a great resource for others looking to invest in this type of deal!

@Jeffrey Silva that's awesome, congrats on your success!  I agree with Gabe that this could be a great potential niche market for you.  Keep up the hustle!

Congrats @Payton Pearson !  Where is this located?  I'm curious who your target rental client is - Families passing through/business travelers/vacationers?

@IBEJesus O Prince congrats on your purchase! Sounds like it's working out quite well for your family, and it seems like a unique house given the sheer size.  Kudos on being flexible within your market and being determined to find a deal even when there wasn't an available fourplex.  I'm curious what your future plan is for this property?  

Emotions in general are a big one.  Sometimes if someone has lived there forever, or the home is in a trust, they know they need to part with it but for some reason just can't.  They've called you in for an opinion of price or an offer, so you know they are needing to sell but they just don't seem convinced.  In this case, you would highlight the reasons why it would benefit them and their financial situation, while still acknowledging their emotional attachment.  No need to pressure, just state the facts.

@Kim Durst congrats!  You're on to great things for sure.  As Nelson Mandela said, "I learned that courage was not the absence of fear, but the triumph over it.  The brave man is not he who does not feel afraid, but he who conquers that fear."

The more you do this the more comfortable you'll get. Make sure you know your numbers and your comps like the back of your hand.  Risk can definitely be mitigated by having all your information, and if this is your third property you're doing something right!  Keep us posted on how it all turns out.

@Tucker LaClair are you looking for residential or commercial leases? There are boilerplate templates out there (I can pass some along), but you'd need to review anyway and make sure they suit your specific needs. If you're working with an attorney they will be able to draft one up for you as well, which is what I would recommend.