All Forum Posts by: Michael J.
Michael J. has started 6 posts and replied 202 times.
Post: New to real estate looking to reach out for mentor
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
Thanks for. your service! Real estate investing is a broad term. Do you have an idea what you type of real estate investing you are wanting to do?
Post: Collecting the keys remotely
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
@Fili Aguirre yes. just get on amazon and order a lockbox and send it to the house. have the homeowner put it on for you.
Post: Can I Make Investing Simple by Using Other’s Skills?
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
look into syndications
Post: First Rental Property - Needs Roof Replaced
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
Originally posted by @Neil Furry:
Have the current homeowner try and file a wind/hail claim before the sale goes through. If you can find/know an experienced contractor, they should be able to navigate the insurance process with you. I do this all the time with homeowners as well as real estate agents here in the Indianapolis market. The buyer will want to get the roof replaced, the homeowner doesn't want to foot the bill.. ok, well we step in and get the roof purchased with insurance money. Just make sure the sale agreement states that the current homeowner has to see through the claim as well as the installation of the new roof. Definitely find a contractor that specializes in insurance work. There is an art to working with insurance companies that takes a few years to master, especially when dealing with a home for sale. If you have any questions, I am very experienced in this field.
I was coming here to say this. I try to get all the sellers I deal with to file a claim with insurance on the roof to see if we can get it replaced before purchasing. I will then add the deductible to my offer price. So if they pay $1000 deductible, then I increase my offer by $1000.
Post: Creative Financing Ideas/Suggestions
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
Is this a traditional bank that you are applying for a loan through? I would definitely look at connecting with a lender who specializes in investment loans. Other options would be hard money lenders/private money lenders, borrow the additional 11k from a family member?
Post: Tips for Finding a Field/Boots on the Ground RE Assistant
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
@John Wright has a great suggestion! You could also look in local FB investor groups to see if anyone would be interested in helping you out.
Post: Is it difficult to remove tenant to do fix and flip?
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
If they are good tenants and pay on time, start by rehabbing the empty side, then move them to that side once complete and then rehab their unit. Then rent it out for increased rent. At that point you can decide to keep or sell.
Post: The best way to save money?
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
if you like eating out, become a secret shopper and get paid to eat out. This will save you hundreds a month!
Post: Buy under personal Name and then Assign or buy under LLC directly
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
Are you the end buyer?
Post: Greenville SC vs Huntsville AL
- Real Estate Agent
- Greenville, SC
- Posts 210
- Votes 140
I prefer Greenville as I like to be able to get to my properties in less than 30 minutes.