All Forum Posts by: Kevin Zimmer

I did not go through your screenshots...my thought is why reinvent when there are great tools on the BP site.  Regardless of if you are managing the property or not I think you should factor that cost in.  If it does not cash flow with PM costs, how will it make you money when you get too big to manage on your own? 

Where are you looking to invest/partner? There is a free meeting tonight, Wednesday 8/3 in Trenton at 6:45.  Topic is building your portfolio using the Brrrr method. Let me know if you can make it,  I would love to meet you.  I am looking for someone to partner with in your area.

I have a considerable following doing short sales in NJ.  I have a negotiator that wants me to handle something in Irvington that is just not in my area.  It would be a distraction.  I am looking for a RE agent in that area to list.  I do not want any referral...I just need someone to handle it.  Experience would be nice but not necessary.  All the negotiating will be handled by my processor and attorney.  Please message me if interested. 

You can't really stop him from breaking the lease (that's why I tell people to rent...they are not wasting money, they are buying flexibility), but unless he is military and being transferred breaking the lease is breaking the contract.  So any loss in rental income could be deducted from his security.  It's a pain, but maybe he will cooperate to let you start showing to new prospects NOW.  If you are not at market rate this is the time to increase. If you are able to find a new tenant quickly he may not lose too much.   

I may be in the minority here, but to me all proof of funds is is a measure of how creative someone will be to go after a deal. When I work with banks on a short sale, they need a POF statement, but they don't need a full account number...just the last 4 digits. So 1) how can they really confirm that the money is there and 2) how tough is it to get a transactional lender to vouch that the money is available? Assuming I make an offer today, and I legitimately have the funds, and we close in 45 days, what guarantees are there that the funds will be around by then? The money is not frozen in an account, it is a snapshot in time. It is not earmarked for one specific transaction. It's not like posting a letter of credit where the monies are held by a trustee or bank and they are obligated to make good on behalf of the buyer if the buyer is unable to do so. I put no value in a POF. I prefer to talk to the prospective buyer and get an insight to what thier goals/objectives are with the property. Maybe make them put down some deposit held in escrow, with a penalty if they are not able to consummate the deal.

if @Stephen Chatto is involved with planning this meeting you know there will be value.  The group is focused on education, sharing,  and building relationships

Check out @StevenChatto   They do a meetup the 1st Wednesday of the month at 354 S. Broad St at 6:45 PM

make all offers known, owner financing, quick close

Great summary.  Do you do a blog where you have posted similar content?

The top portion of the message says this is on 1/14, at 10:30 am and it is free.  Further down it shows as 6:30 - 9 and $15.  Please clarify