All Forum Posts by: Ed Brancheau

Yes, end it because it's not for damage or cleaning. Plus, it's just goodwill. Just let them know that if they get another pet, the fee will come back. Don't completely waive it forever because that could lead to discrimination cases.

Never give special treatment to any tenants. A friend of mine did because they were tenants for five years and he got sued by a new tenant who claimed he was discriminating against him. Of course, he wasn't but he couldn't prove it so he lost and it cost him a lot of money.

How the hell did I miss this thread before? Two years and I've never found a list better. Thanks! Too bad I can't vote you up 10X.

Thanks. That all makes sense now. I thought you had just finished this deal. That's why I was thinking, "How did he swing that?"

Does Apple Valley have higher home values than Hesperia because I have residential land in Hesperia but I've been having a hard time getting the numbers to work?

It's been driving me crazy for years and reading this makes me think I've been calculating something wrong.

That's awesome! I only made one deal in my first year -- like Day 364 -- because I was stuck in analysis paralysis on how to find deals.

And $57K is a healthy profit.

Congrats!

It depends on your financial situation because some people have a lot of time available but not a lot of money. So, they might do "driving for dollars" or find FSBOs on Craigslist and call them.

Others have money but not a lot of time. Those people might start with online advertising, sending the leads through a "warm up" system, and then call them once their warmed up.

What's your situation? I had money but no time.

What are you good at? I'm great at digital marketing.

What do you hate to do? I hate cold calling and repetitive tasks.

So, for me, setting up a motivated seller lead funnel (starting with Bing Ads because they're less expensive and have a slightly higher ROI) that builds trust worked well.

If you can give more details about how you work, I can point you in the right direction.

Check out these two posts for a few referrals:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

 Thanks. I thought about that before but I wasn't sure that they would be able to figure out what the true value was back in 2007. But I'll reach out to some.

I don't deal in land at all and I have a bit of a unique situation.

Back in 2005, my grandmother willed a piece of residential land to me in Hesperia, CA.

I just got an offer for it of $60K.

Now, because I want to 1031 it, I need to know the value of it at the time I received it.

The problem is that the San Bernardino tax assessments are WAY undervalued for houses and even more undervalued for land.

The tax record says that it was worth about $5K back in 2005 but I received an offer back then for $30K.

So, the true market value was $30K versus the $5K the county recorded.

If I used the county's records for the 1031, I'd be paying an extra $3-4K in taxes whenever I exit the 1031 in the future unless I can figure out how to record the true 2005 value.

Does anyone have any advice on if or how I can do this?

This might be a little weird but I came across the post because I'm looking for information about REIReply.

REIReply is a real estate marketing system built on Go High Level's white-label plan.

And I use and love GHL because it's more than just a CRM BUT it's not specifically built for real estate investors.

That's where a company like REIReply might come in.

You see, several digital marketing companies use GHL to run their businesses and many of them, my company included, have developed powerful follow-up systems.

However, the problem is that GHL is only as good as the templates, campaigns, etc that are built within the system.

While I have almost 20 years of digital marketing experience and can build effective and powerful campaigns for me and my clients, I don't have nearly as much experience in real estate.

Ergo, I'm considering REIReply.

If they are as good with real estate marketing as I am with my company's marketing, they have a killer deal. But I'm here on BP because I don't know if they know if they're any good.

My point is that GHL is amazing software and it's worth the money. But REIReply is less expensive per month and they include the marketing templates (still, I don't know if they're any good). And it looks like they offer everything GHL does (sometimes the GHL white-label deals leave something out.)

Hope I didn't confuse you.