All Forum Posts by: Jeffrey K.

This "green" thing is just a fad. As an investor you should evaluate the benefit of marketing to this niche. A lot of these new buildings are designed differently to be "green," do not give up your profit to try to save the environment. You would be called a philanthropist not a rei.

I invest in the Milwaukee area. Are you wholesaling or buying?

I had a similar situation with my agent. Unfortunately, I signed an agreement with him that requires me to pay his commission in the event of a sale. I think this is done incase he shows you a property not on the market or a FSBO. I ended up getting out of my agreement because he asked the seller's broker if they would take 125k when my top was 100k. This demonstrates that he is not representing your interests and my lawyer wrote him a letter of termination. Get everything in writing so if you get sued for the commission later you can prove what has been said. You might not have an out like this. If the seller will pay the commission, let them. You might also try to pay your agent off to get out of the deal.

He is the first person under meet the investor.

When we used to enter properties OTR in Cincinnati you would be foolish to do it unarmed. I do not choose to do business in places like this anymore, but if you own a property the law allows you to possess a firearm ( I never said it was a good idea to use it). Many people who squat have drug problems and meth and crack make people do things they would not do sober. Be very careful and call the police first.

This is a crime and if you call 911 and tell them someone has broken into your property the police will respond. I saw this situation on cops last night. Additionally, it is legal for you point a firearm at someone trespassing on your property and use force equal to the force of the intruder if attacked. In Texas, you might even be able to shoot at them (don't quote me on that, but I know if your neighbor is being robbed you can shoot the robber in the back as a recent case described). If you are going to do business in a nasty area, be ready to deal with nasty people.

It is not so easy to find a job anymore. I was listening to a story on NPR yesterday about a woman who has a Phd from Harvard and currently works retail after trying to reenter the workforce after several years of being a mom. If you feel the degree with be worth it's weight go for it, but if the money and time can be better spent, then it would be advisable to spend it on REI. If you end up going back to school and can find a job in the field you are studying, take it and invest part time. Just keep one foot in the door or it might slam behind you.

I dont see how you can use 30k as a number Ray? One rehab could be new doors, some grass, and some paint. The house I am about to start is a total gut with mold that I estimate will cost me $75K-100K.

REO's a great place to start. They are not much more work. You are just working with a bank instead of an emotional seller. Some banks are better than others. If a house is on the market now, it is either a motivated seller or a bank owned property. Now, more than ever, it is important to buy wholesale. There should be no more retail purchases unless is your primary residence built by Frank Lloyd Wright (even then buy it at a discount).

Do not put your picture, especially a casual one like your profile picture, on your card unless you are an agent. They do this to build a brand around their head shot. My card has my logo, cell phone, title, email, and website URL. The back is very simple and describes the houses I buy. Remember that a card has two sides, but some people over do this by cluttering it with too much information. Simple is better. If you PM me I would be happy to send you the word doc that has a mockup of my current business card.