All Forum Posts by: Joe J.

I am amazed at some of the negative people on this website during my short time here.  Negative People, office politics - that is why I am so happy to be RETIRED from corporate America politics.   Several people often respond to a Blog posting without even reading the entire Blog post.  It almost seems like a canned answer they give just to get more credit for posting points.  This current Blog post is a great example.  No where in this post did I speak about wholesaling but one of the first person to respond discussed wholesaling.  Did they even read what I actually wrote? 

Also, several people have accused my Blogs of being a sales pitch but yet they have sales pitches in their footers that they paid a small membership to have.  Newsflash - if I wanted to sell something, I would of paid the same few hundred bucks to do it too. I AM NOT HERE TO SELL ANYTHING!

Many of you probably have real estate clubs that you offer training or try to bring in guests every week to sell something. I get it you take this website as your territory and don't like new people like myself coming in and offering FREE Information to help Newbies!  All I have provided in my posts is good information and encouragement.  Many real estate investors lack confidence!  Many unsuccessful real estate investors need the confidence to go out there and JUST DO IT!   

Also, not one of you Critical and Negative "Expert Investors" have offered FREE additional ideas in this Blog post to help people for FREE!   Why not add more FREE information then just post sharp tongued negative comments and make accusations "like he's making a sales pitch" with no reasonable basis to support this theory? 

Hey, how about the concept of the no seasoned mortgages by small portfolio banks which is a great tool!  Have any of you Negative Critics done no seasoned mortgages and cash-out mortgages.  I know you must have so why not offer information and encouragement on this Blog post to help others do it too? 

If I buy a house for all cash and rehab with all cash and a bank that is a portfolio lender offers a no seasoned mortgage where I take cash out and I end up with all my cash back, that was a no money down deal for me.  I have done this for years and showed many others how to do it too! Not a sales pitch just a fact to give people encouragement.  

TO THE NEGATIVE SHARPED TONGUE PEOPLE ON HERE - YOU DON'T KNOW ME! - What I can tell you is I am a Christian and I help people and I give back.  I spent many years in not-for-profit accounting helping children, the disabled and the elderly.  Yes I was a Chief Financial Officer for several organizations.  CFOs in NFP accounting make far less money but it was more about the mission of helping people not about making money!  

I believe if you help people it makes the world a better place. I have also flown or driven to various cities at all my own expense for friends to guest speak at an REI Club Meeting. I might add, I never expected payment, did not get money for travel expenses and I spoke with the intent of never having a sales pitch like I have seen at so many of these REI clubs.

I went to speak to give back, not to pitch a program or sell a book like I have seen several people on this string doing.  People on here say Lions protecting cubs? Right, what if the Lion protecting the cubs is Scar from Lion King?

I am a young and retired CPA and 100 percent full time investor.  I have had many people encourage me to share information with others.  One colleague told me about this website.  Thought it was helpful to share knowledge and inspiration, however I have found out otherwise. 

In regards to writing books, yes I have written several books and you know what they were written to give away for FREE! I never have charged for a book!  I have also ghost written real estate books for FREE!  Why you ask?  TO GIVE BACK!

It seems like there is a "good old boys network" here and what a shame.  I am a seasoned investor that just wanted to give back and help people through providing information and inspiration.  Maybe even write a few things that teach but are also fun to read. 

Just for the record, I have been ripped off by dishonest contractors and I have had tenants damage rental units and lie to my face.  However, I still remain positive and want to help others even though there has been negative things that have happened in my real estate investing career and my life. HAVE FAITH and be positive in life.  LIFE IS TOO SHORT! GET A LIFE!

You are chasing away people, like me, away from this website for no good reason.  Is that really what the website is about?  Having a few people try to control what they people want to write?  Having a few people try to GUESS or stay up late at night wondering what is his agenda or why is this Joe or other new members here?  

What about commenting or just thinking to your self - "isn't it great to have someone new that might just care about helping people or sharing FREE information, ideas and inspiration? It should be, unless my FREE information is not welcomed here because others can't sell their information?  No that must not be it.

GO MAKE IT A GREAT DAY! BELIEVE AND ACHIEVE! :) - Joe Jurek CPA 

This post is to help inspire others of the possibilities out there.  As I read through replies there seems to be a very negative critical tone.  Not sure why people want to be critical? Reminds me of the bully on the playground that doesn't like when the bully doesn't get all the attention form the other kids.  I have done many deals and depending on your local market others can too.  Are there portfolio lenders lending where you refinance you have nothing in the house? -  YES  Are there small local banks will to finance 100% REOs - Yes. What I share is not available in every market and in every state.  However, it is out there.  I have met thousands of real estate investors all over the country and many are doing creative deals.  Why not be more positive and share creative ideas?  Often people want to criticize or seem to enjoy creating an argument.  If this is the case, I am  not sure what the website is about.   

It was a sunny day with blue skies and a slight breeze. You could feel the white silky sand under your feet and see the small white caps on the water as the ships began to load up and go out for a day of adventure. There is a smell of coconut sun tan lotion and sea salt in the air. You see boats in the distance and even a pirate (tourist) ship lurking in the water. You imagine being on that ship and you may think what treasure chests may be discovered during this trip? It was time to set sail and locate the next possible deal in the cold unchartered waters of real estate!

As you are out navigating those unchartered waters, you have to be willing and able to do what it takes but choose your battles wisely. You may encounter people that do not have the same ideas or vision that you have. That is okay! You may even encounter negative real estate investors, who cares!  Some people do not like positive people and that's okay.  Some people are negative and confrontational.  I have been investing for more than 15 years and I have met people that are just not happy, but don't let these people ruin your day!  

Think about what certain people went through that had different beliefs than others. For example, Christopher Columbus probably ran into several people that did not agree with him that the earth was round. They told him he would fall off the earth once they set sail. Did that stop Columbus? Absolutely not! Can you really succeed with real estate? Are you really going to make this happen? Should the naysayers stop you? Absolutely not! Some of these naysayers may even be on your current power team.

Is it worth arguing with a realtor about your offer? How about arguing with them about your contingencies? Is it worth arguing with other members of your power team? No, no, no. When it is time just have them walk the plank. You do not need to fight certain battles and at times it is better to just walk away. Do not spend so much energy analyzing why people do not do what you ask spend that energy in finding more real estate deals. If you do this you will find your treasure chests filled with riches in real estate!  

Set sail today to find those riches of education and deals. Stay the course and pick your battles. You have the tools and real estate knowledge to navigate those rough real estate waters ahead. Believe and Achieve! :) Joe

As you drive through a neighborhood you may see the trees swaying in the gentle breeze or that paper cup blowing down the side of the road or even that sharp car that just zipped by you, but are you noticing the things you need to be noticing? It comes down to looking for the best kept secrets in town. What do I mean by that statement?

So often than not when I drive an area, I see FSBO - for sale by owner signs that can easily be missed if you are not looking for them. Not everyone goes to the store to purchase those bright orange and black for sale signs or red and white signs with a nice stand to lift the sign off the ground. When you go through neighborhoods look for the hidden signs and you may find some of the best kept secrets and maybe even deals in your own town.

The two most common places for the un-noticed for sale by owner signs:

1. The sign is located in the window of the home.  It may seem like people do not want their sign stolen so they put it in the window of the house.   

2. A small sign in the grass usually on a paint stick with the grass growing over the sign so you can't read the sign or phone number.

I have seen these type of signs so many times in all parts of the country. So when you driving down the street keep an eye open for the small for sale signs.  Sometimes the motivated sellers are so worried about someone stealing their sign they want to put it in the window where it will be safe but they are missing out on potential buyers.  Good luck finding that next deal. It is the start of the weekend so go look for some hidden gems. Believe and Achieve! :) Joe 

Brian. I am so confused by your reply to my blog.  You are talking about wholesaling and all the other stuff.  Where in this post did it talk about Wholesaling.  I have found that people are commenting without even reading the blog.  Please go back and read this blog and see how it applies to what you wrote it doesn't apply. Also your long footer at the end of your reply is more of an advertisement like you stated in your reply.  Why not remove your long footer t the end of all your replies to really keep it educational and motivational for other members on this website  

Real Estate Investing has created and built wealth for so many investors over the years. There are so many shows on TV today that discuss flip, flip, flip!!!! YOU can make fast cash when you flip but it would also be nice to build and create future wealth. Do you want to own real estate? Do you want to have a portfolio of rental properties? Do you want to have that future stream of income coming in so you will not have to rely on that day job? If so what is holding you back from making it happen? Often many real estate investors tell me it is the money and they just do not have the necessary funds available to do buy and holds (rental properties).

There are a number of ways to find properties that could be a great buy and hold. If you are willing to do the work the reward can definitely be there!

1. Owner Financing.
Sometimes people will sell their property and finance the sale to the buyer. How can you find deals such as this? Look in the paper or on-line classifieds such as Craigslist and it may just say right in the ad as owner financing available.

2. The Property is listed For Sale and also For Rent.
This shows flexibility with an owner and anytime we see a property for sale and for rent at the same time there is a great possibility they will do owner financing.

3. Sandwich Lease Option.
You may be able to find motivated sellers that are willing to do a lease option. If you find another person willing to lease it from you then you could create a sandwich lease option.

4. Partner
Find a partner that is also interest in having rental properties and partner up with that person. They can put up the cash and you can find the deals. You can work out an arrangement to split the cash flow and profits when the property is eventually sold.

5. Cash Out Refis
Find a local bank that is willing to do no seasoned cash out refis and then find a great deal. You can use hard money, private lending or a partner to get cash to acquire the deal then turn around and refi the property to get the cash out and pay off your cash source.

6. Local Small Banks and Regional Credit Unions
Find a local bank or credit union that wants to get a property off their books. They may be willing to finance the property at 100% if they are motivated enough. Yes, I have had this happen on more than one occasion. 

Make sure with every potential deal that you run the numbers to ensure you have positive cash flow. Just because an owner is willing to finance a deal does not necessarily make it a great deal. Do your due diligence and the numbers will tell you if it is a great deal. The most important thing to remember is you are looking for sellers that are motivated! Motivation = flexibility!  

Good luck with building your real estate portfolio. A real estate empire is built one house at a time.  In the world of real estate you need goals and a system.  Your system could be like 4 flips might equal 1 rental property.  In the board game Monopoly, 5 green houses in 1 large Red Hotel!  Go make it a great day!  Believe and Achieve! :) - Joe  

Hey Jarrod and James, I do have to admit I really enjoy real estate and its fun to talk shop to others.  Some of my non real estate friends don't like sports either.  If you can't talk about real estate there is always an option to debating good sports.  Have a great weekend. Believe and Achieve! :) - Joe

Hey Adrien, you are right how often that happens.  I meet so many real estate investors all over the country and they chase the deal rather than building the rock solid buyer's list first.  Have a great weekend. Believe and Achieve! :) - Joe

PS What part of Lake County are you from?  

Hey BFFs, not best friends forever, rather "Buy, Fix and Flippers"! Calling all buyers! Hey you from up North COME ON DOWN! Hey you from the West COME on DOWN! Hey you from out East COME ON DOWN! Hey you from down South, COME ON DOWN! Hey you, this is Joe from the lower 48, my Alaska friends come on down and lastly my Hawaii friends an Aloha from the Mainland. You are hearing these word because it is the popular phrase from a popular Game show - I guess I need to give a shout out to Bob Barker, as well! You are hearing these words today, if the Price is Right!

Buyers will buy when sellers have the right price on a property. Remember a home is only worth what someone else is willing to pay for it. A home can sit and sit and sit and sit, until the seller either make more improvements which they usually never ever do or drop the price. Once the price hits THE PRICE people come out of the wood work to make an offer on the home. Most investors do not realize a simple principle: make the aggressive offer before other do and then you do not have a bidding war to get the home.

I often share my pearls of wisdom with others. I refer to my pearls of wisdom as my "Golden Nuggets" of real estate wisdom. I hope you enjoy and feel free to add me to this Blog string with more ideas to fix, and resell your real estate deals.

JOE'S GOLDEN NUGGET #1: Make Aggressive Offers before your competition

Make the aggressive offer before other buyers and then you do not have a bidding war to get the property. You are looking for motivated sellers that might be flexible on their price. The seller has made at least 2 or more price reductions. Other things that can be great buzz words to look for is vacant, back on market, as-is, seller to do no repairs, cash only sale, estate sale, probate sale, etc.

JOE'S GOLDEN NUGGET #2: Buzz words to find motivated sellers
Buzz words to find motivated sellers include: multiple price reductions, vacant, back on market, as-is, seller to do no repairs, cash only sale, estate sale, probate sale, bank owned, REO, foreclosure, Fannie Mae, Home Path, Freddie Mac, Home Steps, HUD, etc.

Attention all buy, fix and flippers. You are my B.F.F.s! (buy, fix and flips) Do you want to sell that home to a retail buyer even faster? Here are a few tips we have used to make the homes sell quicker faster and in some cases for more money than our competition.

JOE'S GOLDEN NUGGET # 3: All new appliances!
I always include all the appliances with home we are buying to fix and flip. This includes a refrigerator, stove, microwave, dishwasher, washer and dryer. Believe it or not you can get this entire appliance package for under $2,000 to $2,500. Brand new and still in the box!

Most of the decision makers are the women and kitchens and bathrooms help sell the home. New appliances can push your buyer over the edge to make an over the asking price offer. Remember almost new is not new. Do you want a brand new car or an almost new car? Both are nice but new always feels different.

JOE'S GOLDEN NUGGET, HECK THIS IS A BOULDER!!! # 4: Do not forget about the man!

This is my all time favorite golden boulder that I have used over and over. I have come up with this idea and have been using it for years. I will share it with you but do not forget where you heard this idea from. This really works and everyone that hears it smiles and realizes the potential. Provide a FREE flat screen tv set already installed on the wall in the living room. These tvs look great above a fireplace or on an empty wall. Walmart has 32 inch flat screen televisions sets for under $250 and I have purchased a 60 inch at Comp USA in Florida for under $500. The men will love this and they usually will be in agreement with their wife about making an offer on a home. To really get on their good side, you can also provide a gas grill for cooking out with patio furniture. These freebies that you provide can be considered an ethical bribe for Retail Buyers to buy your house!

I was in a Walmart a few months ago and saw this flat screen Vizio flat screen television for only $248. Walmart also has a flat screen 32 inch Sony Television for only $298. Wow, this is a bff must!!! Folks, remember when you heard this first :)

If you provide some goodies like this with a totally rehabbed home, your home will sell quicker and faster than your competition. This will put more dollars in your pocket and golden nuggets in your bag. Go make it a great day. Good luck. Believe and Achieve! - Joe Jurek, CPA

As we get up in the morning we may reach to turn off the alarm after hitting the snooze alarm twice before we finally decide to take the short walk to grab our toothbrush to start our day. We may get a little orange juice or coffee and then turn on our computer. There are so many great deals that are out there, just clicks away in our computer. The computer can unleash a bundle of deals at any time!

It is up to us to make offers that in most cases create the deals that our buyers are looking for. always remember the important concept that we often create deals by the offers we make!   In most cases these deals can be tastier than a hot toasted english muffin with fresh strawberries and jam!

There are several things we must remember with real estate investing:

ALWAYS HAVE AN EXIT STRATEGY BEFORE MAKING THE OFFER 

As you review each potential deal, you have to have an exit strategy to know what you will do with the deal if you get it at the right price. The exit strategy will have a direct impact on the offer you make.  Often people clients tell me that they found a great deal and they want to buy it.   I say GREAT but what are you going to do with it? They say but it is such a GREAT deal and once again I repeat but what are you going to do with it.  You must always know what you are going to do with it if you get the offer accepted.    

HAVE A ROCK SOLID BUYERS LIST

The most important thing about doing deals is to know what you will do with the property before you get the deal. This is called the exit strategy. So often then not people are chasing the deals rather than the buyers when they want to do wholesaling. If you plan on doing wholesale type of deals, assignments or double closings, you should be chasing the buyer not the deal.  The buyer always comes first and will dictate where you need to locate the deals they crave!  (A bigger craving than a sack of White Castle Hamburgers!)  

CASH BUYERS: THE PLAYERS VS. THE PRETENDERS

The most important characteristic when it comes to buyers is the quality of your buyers rather than quantity. I would rather have 5 to 10 actual cash rock solid buyers for every target market area I have that buy every month than a list of 500 buyers that at times I have to question how many buyers do I really have?

I often refer to these Buyers as the Players vs. the Pretenders. How many people just talk a good game when it comes to buying and how many people are actually doing the buying. Find and work with the players that are in the game and let those pretenders just sit on your buyer's bench.

BUYERS: QUALITY OVER QUANTITY

Why is this important you may ask? If you get a hand full of quality buyers you are ready to start make offers and locking up deals. There comes a point in time where you have to take action. It is like in college some people take so many classes and change majors and take more and more classes. Rather than get into a professional they have become a professional student. As an investor search for quality of your buyers rather than just trying to build up a large quantity of buyers.

BUILD A PROFILE ON EACH OF YOUR BUYERS

This is crystal clear for you that the buyer will tell you:
1. WHAT they want (type of properties)
2. WHERE they want it (location-location-location)
3. HOW MUCH they are willing to pay for it (and know the amount of profit they want)

Think of yourself like a personal shopper for these buyers. They tell you what they want and you find what they are looking for. When you find what they want, where they want it and the price they want it for you are well on your way to your next deal. We all love a little shopping so get out there and see what deals are around the corner. You might need a big shopping bag or a large bus for all those offers you will be making.  Go make it a great day!  Believe and Achieve! :) - Joe Jurek