All Forum Posts by: Joseph Ziolkowski

Hi Anthony! I second and third what everyone is saying. I read this forum and other sources for months before I did anything. I'm a little under the gun myself. Our industries have something of a lateral connection (mortgages and construction) so I'm warming the bench as well.
So like you, I'm of the mind that I need to make something happen, and now. But as I'm doing it, it seems I can't make it happen any faster than it's going to happen anyway, given my best effort, so I guess just learn AS much as you can before you start. It won't slow your first paycheck. If anything it will expedite it. 5 minutes of talking to someone on this site can save you a month of putting out fires! Good luck to you. Please let me know if there is anything that I can do to help.

My 2010 goal is to take my wholesaling business full-time (at least the income), use it to pay off all of my consumer debts, put $10,000 in the bank for a rainy day, fix my house up to my specs, and save up enough reserve to buy my first rehab.

Hi George! I've never used it myself, but one person I know that did use it had said that for the price it wasn't worth it at all. For 300 dollars you can get vehicle magnets to make your car a moving billboard, and about 200 bandit signs with stakes. That should bring in enough leads over the course of time to make it worth your while. Hope it helps!

Hey Shane! That was the whole of the plan was to assign it to another investor. If I were in a position to buy and hold myself, I would have handled the tenants. Since I would just be getting an assignment fee, I wasn't sure if it would be worth it or not, given the ridiculous costs and time it takes in my state.

Great advice Ryan, thank you. That's exactly what I needed to know. Now since I'm figuring $5000 into the price for the bad tenant, should I just have the buyer do that, or should I do it myself, do you think?

Hey Myka! It has been an informative thread, so thank you to everyone for your advice. I don't get help anywhere like I do here :)

Thanks guys! Shane, I plan to wholesale the deals if I do them at all. I would just get out with my inspection clause if I couldn't find a buyer. The original question was if I figured in for the cost of evicting (plus a little "hassle" money for the buyer) if I could wholesale it with a possibly bad tenant. Could be I didn't word it right at first.

And upon further research, IL is a very tenant-friendly state, as you might expect. So it's gonna take more than a couple of hundred bucks to get the job done. 90 days and at least a couple of thousand seems more like it. So then it's a different kind of situation than what you'd mentioned in Texas.
Under those circumstances, would you still do the same thing, or approach it a little differently?

Thanks Peter! I'll have to see which direction this all goes first. Ryan, I'm not exactly living beyond my means. I've been out of work for a few months. I was starting this business anyway, and at the time I had enough for a meager nest egg and monthly marketing budget, etc.
This is just a temporary situation, I'd just hate to miss out on a deal because of it, especially when it would make such a difference, you know what I mean?

Thanks Ryan! If I'm new at this, and have no cash to evict the tenants, what about that?