All Forum Posts by: Account Closed

Heh, heh. I don't think so. Want your appliances to go missing?

 Seattle has just enacted a LAW that you have to take the First applicant. Social Justice at work.

Cash flow it. You will appreciate that advice for the next 30 years.

Jorge, there are lenders everywhere. Talk to your dentist, doctor, business people. Offer then 7% to do the project and they can fund it out of their Pension plan, IRA or 401(k). It's a lot easier and you have ongoing relationships for the next deal. They WANT to get 7% instead of the .25 they are getting in the bank.

I went to Fry's Electronics (Best Buy probably has them too) and bought a packet of 4 window alarms for $10 - I then took some fishing line and tied one end to the the alarm switch and ran the line across the gate and tied it to the other side at about ankle height. The "trip line" sets off the alarm when they hit it, and the thief has no idea what happens next, so bugs out. Try it. It works.

I guess it starts with "how much do you have to invest"? Can you use your pension or 401(k) or make your IRA self directed?

@Steven Oneill Hi Steven

It's a good idea to start with learning the vocabulary

Beyond that, there are a significant number of ways to "be in real estate" So, you need to narrow it down a little bit. It kind of like the guy in Forrest Gump who knows 172 different ways to prepare shrimp. Here are a few:

Wholesaling REIT

Fix and Flip                                      REOs

Buy and Hold                                   Real Estate Agent

MultiFamily                                      Zero Down (Purchases)

Commercial                                     Cash Flow (Tenant Buyers)

Raw land                                          Rentals

Tax Liens                                          Property Management

Mortgages and Notes                      Etc, Etc, Etc

So, I'm not sure what "your meanin'" is, but each has it's advantages.

Some require money, or credit or knowledge, or all three but if you can figure out which best suits you, people can better direct you. Phoenix area is a great place right now for real estate.

Did you all realize you can invest in Phoenix and not have to do the crazy commute thing? :-)

(Well, of course that's using a partner in the area) 

But, you could fly in, do a flip and fly out and be more profitable with less stresssss and not have those wild Cali taxes to deal with.Think about That for a minute.

The Housing Bubble in the Bay Area and L.A. can't last forever my friends. Also, Mortgage Interest Rates are going up and it will be harder for families to qualify for financing. That makes it hard to sell. Don't be caught with your nailers empty and lots of unwanted inventory.

An example in Phoenix; I bought a 5 bed 3 bath for $151,000 and put in $20,000 and sold for $289,900 without a realtor. Little risk since the carrying costs are so low. (and very small taxes) My partner put in half, did no work, and got half of the profit. Sweet huh? Not sure why everybody does things the hard way. Hammer On! (proof of details at PassiveIncomeGrowth  d o t   c o m.)

Think outside the box.

Just a couple of ideas:

Sell the sizzle, not the steak:

1) You are providing a home, safety and comfort, so sell it as an opportunity to spend family time and experiences together in "their own home"

2) There is room to "expand" and add a bathroom. They will never do that, but they could if they want to, right? Don't box them in. Let them dream. Who knows, maybe a carpenter will buy the house and expand.

3) It is affordable and "better than rent" and they are adding generational wealth by owning instead of renting 

4) Remove the first 8 pictures of the front of the house. Don't make me work so hard to see what is inside. I can go on google maps and see the front. I want to know what the place "feels like" inside.

5) Replace the word "quaint" (that is a word that says "small, small, small") with something like "a warm, safe, secure home for the family".

6) Since it has been rehabbed, there is little maintenance to do, right? So, something like, "enjoy your weekends with the family, the house is ready to be yours"

7) Sometimes you have to raise the price and fire the Realtor to get the place sold. Seems odd, but you have more interest in selling it than he does. Typically his 6% commission is split between the two agents and then each of their brokers. In this case, $80K sale, equals $4,800 total divided by 4 equals $1,200 to your agent. Nothing for him to get too excited about. Can't spend much on advertising or much time on it.

8) Got to Home Depot and buy some signs "Home for Sale" and put them up at main intersections and in the neighborhood. You should be more motivated than your agent to get the thing sold.

9) Put vanilla in a bowl so that they smell that coming to the kitchen.

Just some thoughts.

Do you even know where Arizona is? It's HOT here. Why Arizona instead of Wisconsin, Florida or Ohio? Where is your Bio so we can see how much investing you've actually done? Tell us a property address we can review before we give away our little gems.