All Forum Posts by: Jonathan Jewell

@Rousner E.  First thank you for your service, 

2nd I totally salute and applaud your approach on your first investment.  You sir are doing everything right and have the RE mindset.  Thanks for posting how you started out.  You are going places!

@Jesse Petrillo  If the inspection report was delayed I would ask for an extension, its only reasonable.  Looks like your doing all your homework, your going where the money is but time isn't on your side. 

Ask for an extension and be firm about it, if they balk...WALK, especially if its under 30 days.  If its meant to be it is, if it falls through the Universe is doing you in a favor, look at it from that perspective. 

The only thing I wish to add, if at all possible go look at the home in person.  Maybe there is a horrendous mold smell thats not on the report, or the rabid dog that's barking 24/7 across the street.  I once walked into a home with a bad gas smell.  The stove pilot was out, but the inspector I had with me couldn't even smell it!!!  You just never know.  

Honestly, God bless all you guys that buy these out of state places and not actually set foot inside the property.  I don't know how any of you do it.  I have to see and smell everything just for my own piece of mind. 

Also again just an FYI to Jesse, Tricon American homes, doesnt have very good reviews,  actually they are in the toilet, lots and lots of 1 star reviews in all their locations.   Just be careful man, hate to see you get jammed up.

@Jeremy Clarke  First, Congrats.  Based on what your saying your numbers are looks like a fantastic deal.  

I do have a question for you.  How exactly did you find the place?  National listing, BP, friends in area?  

I'm also curious on what prompted your motivations to go out of state rather than within your living radius.  

Again congrats!!!

@Andrey Y. "

"100% on point. I earn 5-10X what he does and I STILL can't afford to buy a $600/mo. truck."

Right there with ya! Nor would I want a 600 payment!!!   Free and Clear here.  235,863 mi Regular maint and my baby is still running strong all these years.  Exterior a little battered and lil bruised, and some extra paint that shouldn't be there lol. 

But thats ok, I'm not trying to impress anyone, and that's more money in the bank for reinvesting

So many obvious questions are popping into my mind, too many to even list here.  

This looks to be a mobile or modular home on a cinder block foundation.  Thats not bad thing, but if the inspection report is noting its sinking, then yeah it has either settled or shifted, and grading is one fix.  Grading can be very expensive though.

 You are also out of state, this is your first deal, and you have for whatever reason 24 hours to decide.  IMO you should walk from the deal, otherwise you'll be on BP in a few short weeks asking people how do you get yourself out from under this nightmare.

Why not buy something closer to home, that you can keep an eye on if something were to happen?  

Ok, maybe I missed something here, but there are some very obvious solutions around this guys problem of not being able to start in RE investing.  He could have a place in days.

Oh wait I get it.

Is it so obvious that we are hoping he realizes it for himself.   hmmmm Ok, I can support that.  That should get the old brain cells firing if he truly wants it.  @Omar    Think it out man.

@Linda Hastings Perfect!  Thank you very much Linda!  Most appreciated. :-)

Ok, believe it or not, the title of this thread got me curious so I clicked on it. After reading this thread, I seem to be very interested in learning more about buying notes.  Can some of the seasoned folks on here point me in the right direction as to what you read, saw listened to that could get a newbie started?  Much appreciated!!!

@Shaun Pruett  I was scanning the replies to see if anyone suggested the hard money route before I posted, and ya beat me to it. Yes @Aaron Phillips to alleviate the pressure and make some of the problems you mentioned go away, I would get a hard money lender to quickly close this deal.  You'll take a slight hit with points, but you'll sleep better and be more focused rather than worrying.  Don't panic man, you'll get this done.

@Rick MacGills  Seems like you put a lot of thought into this venture, and your hustling and working your plan, which a lot of people don't even get that far so definitely cannot fault you for doing that.  To me, seems to be a lot of work with very little return.  Maybe I don't quite understand the full scope of what your trying to accomplish.  But with the amount of drive and energy you have, I think you'll dominate any market you get in to.  Best of luck to ya man.