All Forum Posts by: Jim Adams

I think your assumption/logic is sound to me.  All the experts I listen to are saying take on as much debt as possible to hedge inflation (fixed debt).

~Jim's wife, Kristina :)

Hi Sigmund -- I don't think there's any hard and fast 1 right answer, but I would definitely run projections for 5, 10, 20 years out. You can use the BP calculators to do that. With rentals, you benefit from cash flow, appreciation, principle paydown, and tax savings. I would make sure to take all 4 into account in the comparison.

~Jim's wife, Kristina :)

I love that you have a plan. I would suggest maybe talking to a lender now and asking them what you can do to be qualified when you graduate.

~Jim's wife, Kristina :)

Thanks, @Mindy Jensen. I know you guys have a hard job and you're doing your best.  For us registrants, if it is going to be cancelled/postponed/changed, the more notice we can get, the better!

Hi all, I'm Kristina (Jim's wife). We'll be going to BPCON21 and coming up the weekend before for some extra NOLA time, as we're also celebrating our 13th anniversary on that Monday.  Looking forward to networking and seeing what strategies people are using to close off market land deals in this crazy market.  

Jim and I got serious about real estate investing in 2019 when we bought 4 small multi families. We added another duplex, 2 flips,  a short term rental and sold our previous primary in 2020. This year,  I got tired of tenants and rehabs and changed my focus to flipping land.  So far this year we've bought 1 more single family and I think I'm up to 7 parcels bought with 2 more under contract. 

Good morning Bigger Pockets,

Last week, I sent out 8 handwritten letters to land owners who would be losing their land in an upcoming tax deed auction. I got a call back on one of them a couple of days ago. The call back was from a lady who is not on the title and said she's an agent, but listed the property FSBO. She wanted $20K and I offered $17K. She said she'd check w/ the owner and that she thought he'd accept. She had me text her the offer, which I did, but now it's been 2 days and she hasn't responded. Should I follow-up, or wait till a little closer to the auction (June) or reach back out and see? Thanks in advance!

Kristina, Jim's wife

I've never done a subject to deal, but it's something I've been interested in. The guest speaker at a REIA I went to last week was talking about them. He said strictly speaking "subject to" isn't legal anymore, but the way to do them now is to have an attorney who knows what they are doing and put the deal into it's own business entity (I think with the seller). I don't really have specifics, but the point the speaker really drove home was not to try and do it yourself and to get an attorney who absolutely knows the law in this area.

I personally would not, especially right now when it's pretty easy to find a tenant and very hard to evict.

Hi there -- I have been jumping into land deals via tax liens and tax deeds. I have my first deed which I've now listed w/ a realtor because I don't really know the ins and outs of selling it myself. I'd like to be able to list it on Ebay and Craigslist, but I don't know the real tactical aspect of structuring the deal, making sure I get paid, how to transfer the title, etc.  I'd like to lean on the knowledge of the collective BP family vs paying a guru for their strategy and templates. Can someone point me to a blog or post somewhere with the step-by-step of how to sell vacant parcels. I am happy to share my strategy on how I find and research my deals and anything else I've learned in my real estate journey in return. Thanks in advance.

~~ Jim's wife, Kristina

How did this turn out?  I'm headed down this exact same road right now :(