All Forum Posts by: Michael Lewis Lee

Thanks!

Hello Tony!  Where do I start?  First of all I would never buy acoproperty that’s out of driving distance over an hour unless it was a Turnkey product and that company also manages.  Was that the first auction you went to?  You need to go at least once just to watch and not bid. 

Probably a local bank his your only will get that kind of loan fruit a bank who gets more into your ability to pay and put 20% down but usually a longer term.  There’s probably something terrible about it’s condition and why you got it.  Did you look at it first and know what year it was built?  Was your win involve an”educated” guess or was it physical knowledge you had?

Good luck to you!

Hello Mark!  That is a negotiated thing.  Usually the seller/renter pays the Agent commission, especially if they hired them.

Best wishes!

Hello Adam!  A couple of other items. This is from a person who has been around for 63 years and who has real estate and construction experience.  When you are visiting with a like-minded person listen more than talk.  Wholesaling is an oversold training and full of crooked people that don’t mind lying and do back-stabbing.  That’s fine if you grew up that way but I wasn’t the way I grew up.  Your profit may eventually show up if you can control your mind and do not quit too early.  Being able to do this is a valuable but a hard place to start. Good luck to you!

Hello again Michael!  Location is probably #1.

Best wishes!

Hello Tamika!  Look in the appropriate county office that probably knows who the heirs are or contact an attorney that mIght have the internet people that are like skip-tracers to find out who the owners are.  

You can try to get that info from a neighbor or leave a sticky note on the front door or other visible area (like the mail box) where the heirs are and/or what your purpose is including your willingness to help them solve any problem.

Good luck to you!

Hello Schuyler! Most of what you said but you did not mention your distance between SanDiego and your invest home. I was sorry to see that a HOA is involved but I hope you checked them out and the likelihood that they will increase the fee. Everything else sounds pretty good. Perform strict screening and your management and do not take any chances or cut corners. Even thoughI was a licensed broker in Texas for about 30 years but I got into construction full time, I agree with not using an Agent when you buy. I grew up in Dallas so I lived in a great experience for real estate actions and how much diversity counts.

I wish your continued good luck!

Hello Aaron!  I agree with Joe, your first responder. I think you should invest within about an hour from your home.  The only way to invest farther is to invest with a Turnkey Company with a good reputation and experience including property management or someone that you trust, really trust.

Good luck to you!

Hello Brandon!  A yard sign and what it might say.  Determine their motivation and can you help. Ask them if they would consider owner financing?

Good luck to you!

Hello Idris!   My top recommendation is to go local real estate clubs or associations that don’t just try to sell you something you don’t need . Go to places where like-minded people are.

Good luck to you!