All Forum Posts by: Account Closed

@Rousner E. While we all wait for it to be legalized, you can legally grow industrial hemp (for use in CBD oils, etc) in TN. I've only recently started looking into it, but that might be something to get you started and some experience 'growing'. Good luck

The only fortunes those guys are building.. are their own.

I would assume that the program is only for owner-occupied houses. Maybe save up for a down payment, or learn creative deals.. instead of trying to get the taxpayers to foot the bill for your investment. That program should absolutely be shut down. 

@Ken Rishel Lease Options are a great way to sell a property when structured correctly and not performed in a predatory manner.

You make it seem like they were shut down for simply conducting lease option transactions. You didn't include exactly why that particular company was targeted. Its not that they were simply doing lease options; Its that they were operating in an extremely predatory manner.

"VPM requires the tenants to front the costs to rehabilitate the property, pay all the overdue taxes, and resolve any outstanding building code violations associated with the property, Wisconsin’s complaint states.

And, if the tenant does not remedy those issues within a short period of time, VPM evicts the tenant and “repeats the cycle by renting the uninhabitable property to yet another Wisconsin consumer,” the Wisconsin DOJ said in a statement.

According to the complaint, VPM rented properties with sewage in the basement; black mold; lack of water, heat, or electricity; insect infestation; and multiple code violations; among other issues."

@Rebecca Knox Awesome company name lol !! :) 

@Tiese C.
If he's not going to buy it from you, what did he suggest, if anything?

Is the '5 year' agreement in writing? If so, does the contract or closing documents outline what should take place if/when the 5 year period expires? 

Have you asked him to deed the property back to you? I doubt he's going to want to simply give up his cashflow/equity without compensation, but if his other option is having a spotlight put on his business practices....letting the local community know how he treats sellers.. he might be more inclined to negotiate. 





 

@Vickiel Woodard  sell one, keep two, repeat until rich :) 

@Thomas S. No need for the negativity. "Not going to happen" actually happens ALL the time. For the most part i use $0 of my own money for deals. Do you know how that happened? I asked, and asked, and asked, and asked again..until i found a way; Just like @Torrence L Stump is doing right now.

@Rashid Algaradi  

Non-owner occupied is what a lot of folks generally mail starting out.. you could also include owner occupied that meet your criteria to find sort of 'hidden' non-owner occupied houses; meaning the owner moved but did not update the mailing address with the county assessor, so they still show as owner occupied (and not being mailed to by investors mailing only to NOO).

Letters or postcards.. you'll hear arguments for both. Either way 1. Make it stand out; colored or invitation envelopes that don't look like bills. Hand written and actual stamp for letters. 2. Be yourself; Rather than "We're XYZ Home Buyers, We Pay Cash and Close Fast .. blah blah blah" try "Hey, my name is Rashid. I live here in Memphis and buy a few houses a year as rental properties..Id like to buy yours as well.. etc etc" 

Theres an over abundanced 'one click' generic direct mail going out these days, the more personal you are with the seller, the more you'll stand out! 

Good luck, Hope ya crush some deals off it!

@Rich Hupper  As @Ray Lai mentioned, try a site like Intelius to find other relatives. I mapped out a seller's entire family tree this spring and went through the entire list of names on Facebook before i eventually found his son's ex-wife who gave up his #  (for a price lol).

Good luck to ya man! Those kinda deals are the best

  

100% financing?! Sure! :) 

But seriously, it is definitely doable. 100% financing is usually going to come from friends, family, or local private lenders on properties with a laaaaarge amount of equity.

Keep networking. Find awesome deals and you'll find $$