All Forum Posts by: Stacy Dieckman

John,

I am feeling a little beat up from different directions :D , I spent time putting together a 50% - 2% flyer on the St. Pete homes and took it to a real estate exchange meeting and got beat up for including costs of mortage financing. So, when in Rome...

Thank you for your feedback. I'll get all the info together and get this property priced right and posted.

Stacy

Apartment buyers,

I have a client wanting to sell an apartment complex in Erie, PA. Using the 50% - 2% rule, please give me feedback on this deal before I advertise it here.

34 Unit Apartment
100% rented - typically very high occupancy
Rents $515 - Market will bear $550
There is almost an acre to develop - maybe self storage?
Asking Price - $875,000

Thanks for your input, it will help me counsel the seller.

Stacy

I have a private seller with a package of homes 20M BPO selling for 5.3M. They are willing to break apart the package.

There is a house in Hamilton, OH 58K BPO aprox.16K takedown.

Give me a call and I'll go over the cities and see if they fits what you guys are looking for. Excellent chance to buy at .26 on the dollar without having to buy the whole package.

Thanks and I'll talk to you tomorrow,

Stacy

Faraz,

Are you a member of a local real estate investment group? If you are not experienced in doing rehab maybe you can team up with someone who is and be the money.

As a Hard Money Leder you can get a good return and by teaming with an experienced investor he/she may already have an exit strategy in place limiting your risk and giving you experience. If things go south you at least have a house you would have bought anyway.

Just a thought,

Stacy

Nationwidepi - Great Post.

Many of the investors I've known will not get a license for the exact reasons you listed and they still find a way to access the MLS.

I have a real estate broker's license and think it helps me on the commercial side of the house.

Stacy

Jeff,

I would listen to the advice of more experience people but that's practically impossible to do so I don't expect you to be any different than the rest of us.

No one wants to hear get the truck and not the mercedes, S-class I'm assuming, when you can't have the mercedes that's all you want.

Reread the advice you get and when you find something you don't like ask yourself why you don't like it and be honest. Do that and you will have snatched the pebble grasshoper.

To start out making money again I would find a successful investor, any type, and be the arms and legs for that investor finding deals for him/her and learning all the way. Then repeat with another successful investor.

Stacy

I have a contact, who is an attorney, near Buffalo that works with a lot of Canadian investors.

He has access to very solid real estate investment opportunities both residential and commercial.

Hope this helps, just PM or email if you want his contact info.

Stacy

I need to partner with a local, St. Petersburg Realtor who can bring thier experience to help investors take advantage of a great opportunity.

We have great cash flow homes with fantastic equity.

We have hard money to allow a purchase then a rate and term refinance.

Our bank relationships can help your investor get the Fannie 10 financing.

Professional management is available as well as contractors to do the rehab if needed.

Please PM/email or call if you are interested in teaming up.

Thanks,

Stacy

Robert,

Start abound the block and get an education but I'd try them both. There is a bank about 62 miles and two counties over from Indianapolis that does a good deal of investor business in Indy.

Be prepared with your business plan, good luck and let us know how it goes.

Stacy

Robert,

Most of the investors I deal with get a relationship started with a local bank. If you have the chance, maybe you can stop in to your local bank and ask what type of property they have an appetite for and under what terms.

Once you know that then you'll be better able to not just find deals but make them happen, even if you have to bring in a partner.

Stacy