All Forum Posts by: Joe Moore

Refinance and buy more real estate in out of state properties that appreciate with much better cash flow.

With so much rehab, I would only bid $70K and 75k top.  You are looking at a dude, not a deal at $80K.  Another determining factor will be, is whether this property in a buyer's market or a seller's market.  If you are in a buyer's market with less competition, you will have an excellent chance for the lower bid.

The seller has become your tenant and need to be paying rent.  I have had this situation and the money should come out of the proceeds from the sale.  In your case, an eviction seems will be necessary to get them out.

@DL Martin - Trump is using his presidency as a bully pit.  This can not go on.  He is taking more time on Twitter to bully than he is taking the time run this country properly, which he doesn't seem to understand or care.  His only real objectives is to make the rich richer and its by-product, making America lily white.  He has cut back on inciting the population to divide, which is great.  All the tweeting he does is only a camouflage for his real agenda is.  I will also seem to be a lazy president who only reason there is to make more money for his businesses.  Hopefully for this country, he will conduct himself much more maturely as he get more experience.  Thou he seems to enjoy throwing tantrums.

Congrats!

@Marlon Thomas, Jr    Get a job at Home Depot, Lowe's, Ace, or other building material stores and make friends with those frequent customers especially those who make large orders.  You can also join local landlord associations and offer your services as tradesmen after you honed some type of building trade skill.  Also you consider joining your local real estate group.  I like your long range plan.  You got the time and motivation.  The hard part is the conviction to stay the course and the willing to expand on your idea of what it take to succeed.  You will also have to build a good rating and a large credit line.  All this is possible, but as you go along you will have tweet your plan as time will revel.  

Turnkey is okay for you if you have no time at all to be and want to be a handfree investor.  It will definitely up your odd in being an unprofitable and unsuccessful investor.  First and foremost, you probably pay far more for the property.  In fact, you will probably pay more than the property is worth.  Then on the repairs, the turnkey property provider, will more than likely overcharge for both legit and bogus repairs.  You need to do some research on the different markets and decide which interest you the most.  After that, a trip is in order to check out that market.  You need to connect with BP members in that market and arrange to meet some of them on your trip to their city.  Find out from them what areas are worth investing and why.  I will meet with at least 3 or 4 of them in order to get a better overview of the city.  Ask them about realtors, contractors, handymen and other tradesmen as referrals.   It is not always smart to only deal with the most successful investors because some of them will view as the competition.  Find those who will be willing to check on a property and the neighbor and give you their opinion of what they saw.  Offer to pay them for doing it for you.  Truly if you can connect with a handyman or 2 who would be willing to go look at the property and give you an estimate of what it would cost for repairs, you increase your odds at being successful.  You need get books on property management which will give you knowledge in what it takes to be a pm and gives you your best chance at being successful.  After you grow your portfolio, you can then hand off to a property manager.  With your experience as a pm, you will be able to pick a good pm.  Location and property management will make or break an investor, especially a beginning investor.  Good luck on your real estate journey.

I have installed 3/4" cork sheets in a condo for soundproofing between floors which was required by condo association.  I ordered it on Amazon because it was delivered faster.  They do have it Home Depot.  I am pretty sure Ebay is best place to get it for the best price.

@Douglas Skipworth - Thanks for your help.

@Elizabeth Wilson - Thank you very much for your help.  I will call him.