All Forum Posts by: Joe Ellis

@Melanie Devries It seems like you're already on the ball and have things moving along! How long has your company been doing what you guys do? I really liked what I saw in some of those pictures on your site. Do you do most of the work yourselves or do you just hire it out to sub-contractors here in Vegas through your father-in-law's company? 

Biggerpockets is definitely flush with information and it's a great time reading through and staying connected, whether it be with people in your own market or others it's always cool reading about other people's successes. The podcasts are definitely a great resource as well as the entire Education dropdown menu on the top of the site! There's a meetup out there in the Henderson area every month at Guiseppe's I believe it is but I'm not sure when it is every month, I do know that Mr. Dwyer puts it on but it won't let me tag him since he's not a connection. Maybe @Omar Merced can tag him? 

How long have you lived here? What kind of properties are you looking into? What's your price point? Are you trying to stay in the Hendo area or move a little further north in Vegas or maybe south down into Boulder City? 

We will see you around, good luck and let us know if you have any questions! 

Those signs that you see everywhere we have here in Las Vegas as well, they're also known as Bandit Signs and from what I've run into those are wholesalers trying to find people who A) need to get out of their home fast and are okay with selling it at a large discount or B) curious people who just want to find out what their homes are worth and then the wholesalers push those ones out to RE agents that they work with. 

If you called one of those signs and talked to someone I'm sure it wouldn't be hard to find out how to lend them money or possibly become a buyer for them. 

Glad to hear your cancer is gone and you're a trooper for continuing your education and your drive is inspiring!

Congratulations on finding BP Robert! Buy and hold is what I am in this game for but I've still not been able to find the right person, yet. Do you have plans as to what size homes you're looking into? What kind of financing are you looking at or are you flush with cash? Are you wanting to buy properties that need work and BRRRR or something a little more turnkey?

Good luck!

As far as my personal reason for using our company's "preferred lender" it's because he sits in the same room as we do so he's there and it's easy. It's not as easy to set up a weekly meeting with a lender that's not part of your company to build that relationship. Laziness or ignorance is probably what it boils down to. Most agents probably don't even think that other lenders might exist! 

My question is what is the difference between a degree in Real Estate and a RE License? 

@Alvin Pereira, this blog post might help you out some.

 https://www.biggerpockets.com/renewsblog/2015/01/3...

and I know that there are quite a few podcasts that go over wholesaling, a couple of which that go in detail. Here are a couple and I'm sure there are more. Not sure which ones they are off the top of my head but just google Biggerpockets podcast wholesale and you should come up with a few of them. 

https://www.biggerpockets.com/renewsblog/2013/04/0...

https://www.biggerpockets.com/renewsblog/2014/10/0...

If they're renting your property then it's highly unlikely (although not impossible) that they have something really worth anything putting a lien on. Unless you're planning to take their vehicle (if they have one) which I guess would work. I'd call a couple of apartment owners or other property managers in your area to find out if they have done this before and if it's worth the time and effort. 

Otherwise, I'd do like @Account Closed said and take them to small claims court but make sure that you have documentation and print-outs of all correspondence between you and the tenants. Texts, emails, phone call date and times and recordings if you have them. You're going to have to PROVE your side of the story because as it sounds, these tenants are going to just fabricate stories to cover their butts and not have to pay you. Good luck and keep us updated! 

-Joe

@Eric Ko, it looks like you're already on the right path. Continue to learn but feel free to dive into any opportunity that you see and learn as you go. Paralysis by analysis happens to too many people who then get too scared to do anything. Get out there and knock on some doors, make some phone calls, meet with people and solve some problems; don't let fear keep you from your seven figure goal! Good luck and see you around!

@Cindy Lamug  @Mason Marin are either of you up for setting up a meeting just to talk about what our goals are? Kind of like a mini mastermind group? I say we get ice cream at the Dairy Queen on Craig and Rancho around 5pm tonight in North Las Vegas. Anyone else is welcome to come as well obviously. I'll be there so shoot me a PM if this is something you're available to do! I hope to meet you tonight!