All Forum Posts by: Michael Quarles

Answer is…… NO.  

I agree with Scott assuming it’s a traditional purchase where the goal is long term ownership and the knowledge base isn’t creative financing. 

That said I've bought a bucketload of property without a down payment or traditional financing. As you dive into REI learn seller financing, sub2 Syndications, even lease option strategies.

I would run numbers on median rent values and median home values in the top 100 markets. Attach a cost to the home value and weigh the median rent value against those numbers to determine the cities I would be interested in studying further  

I then  would run a simple algorithm to determine which areas within that city afforded the best likelihood of gain. 

I know apartments.com has a really good downloadable doc on the top rental areas and trulia will give you some great median numbers. 

Then it's a matter of compiling numbers off of listsource and your local MLS. All very easy and difficult.

Once you grab the info it will be crystal clear which markets to invest in.  

People on BP are too nice.  

Please stop.   For your own sake.  

SEO is at least a 6 month project that will cost a minimum of 2k a month and it will never get you top 3 results.  

Mail isn’t expensive done right. Done wrong absolutely a waste of money.  

Bandit signs are not legal in most areas.  So I’m not going to suggest that you break the law for your own gain.  

Your best hope if you have any is to network.   Pass out business cards to strangers and call friends.   Tell everyone you know and don’t know that you’re a real estate investor.  

The HUGE question I have is what happens when or if you get a deal?   Do you even know what a deal is?  Do you have an agreement to use?  Do you understand the laws surrounding purchase contracts?  

Real estate isn’t a get rich quick industry.  

Buy houses at 70% of as is value.  Sell 5 keep the six free and clear.  

This post somewhat explains the current BiggerPockets flaws  

10 years ago if someone asked how to buy multiple houses a year almost every post would be about creative finance options.  No one would suggest to use their own credit or to take out a loan to buy.  

Hell I’ve bought over a 100 houses a year multiple years without a traditional loan 

What happened?   Did BP forget how to invest?  

They learn Sub2 and Seller financing, maybe even lease option, strategies.

It’s not difficult to buy them.  The hard part is finding the great deals and negotiating the price.  

Sell and when you do remember there is a 10% hold by the insurance company until repairs are complete and that’s transferable to a buyer.  

And I wouldn’t be so forgiving to the tenant.  

The absolute best way to avoid taxes is not earn income.  Or at least report it.  

No real estate needed.  

In fact, come to the USA and live off of those of us who pay taxes.  Free healthcare free cell phones free housing.  

Now that BP has somehow determined #1 status for some members it might be fun to do a weekly podcast with the #1s in a round table. 

I remember being on a panel discussion with hundreds of audience members who asked various questions.  

The response was terrific and everyone seemed to enjoy it.