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All Forum Posts by: Account Closed

Account Closed has started 14 posts and replied 812 times.

Post: How do we get back to the old forums?

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771

The new forum layout is awful.  How do we get back to the old forum layout?

Post: Buying from Holton Wise- poor communication

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771
Originally posted by @Chuks Erinne:

@Brad Fausett the time you spent writing this post, you could have made atleast 10 other offers. I don't get the point of this. This is like posting your personal business between you and your girlfriend on the internet. Nobody owes you anything. This post is pointless and a waste of time!

I was entertained!

In fact I might actually pop for Pro membership if it included access to a secret forum where its just curated links to all the duke-em-outs that happen sometimes on here. LOL

Post: Anybody familiar with 'Amplify My Business'?

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771
Originally posted by @Omar Hidalgo:

.... paid for by Amplify My Business . Lol 

 Right?? This happens a lot here, fake spam accounts with no profile picture and spending WAYY too much energy defending or promoting some sketchy business but not interacting with the forum otherwise at all.... even going so far as to outline in detail how the system operates.. like a totally normal person would, of course.   

Phoney baloney.

Post: What are thr best ways to acquire REO's in Pittsburgh?

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771

It's not 2011 anymore, in my market its very rare for a foreclosure to even become a REO (aka bank-owned), they get snapped up at the auction.. Same with short sales I imagine, probably wholesalers and other investors are negotiating with the owner as soon as they go lis pendens. It's rare to see either on the MLS lately.

Post: Number Crunching Confusion

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771
Originally posted by @Tyvan Albertson:
Originally posted by @Antonio Cucciniello:

@Tyvan Albertson Can you post your analysis or write out what you did to calculate them? Hard to give feedback without seeing it.

Second, what do you think has caused you to be in analysis paralysis mode for 10 years?

I'm not sure how much of the analysis I can post without getting in trouble on here. I tried to post most of it in one of the posts above. They weren't hard numbers by any means, just estimating with Rentometer etc. 

I think the biggest thing that has kept me from taking the leap is fear of failure. Uncertainty has some to do with it. Fearing that I don't have enough knowledge to know what I'm doing. Telling myself the timing isn't right for "this, that and the other" going on in my life at the time. 

I think you can post nearly any aspect of the property or analysis except maybe phone numbers or anything you agreed to keep confidential.... i see people posting mls listings, spreadsheet screenshots, etc..

The numbers you posted above looked good on the surface. 

Post: Fake Hard Money Lender?

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771
Originally posted by @Mitchell Barna:

Hi there, I was contacted by a hard money lender via LinkedIn shortly after my first post on BP forums. I thought this to be strange someone would randomly reach out and ask if I need funding, however given the networking aspect of RE investing, I am not too surprised. I was curious if there is anyone who has had a similar experience? I want to reach out and discuss funding but am worried it may be a fake profile with a fake company and is some form of scam. However, the gentleman has over 500+ connections on LinkedIn which would also make me feel like it may be legit. Just curious about some experienced investors' inputs on situations such as this?

Thanks in advance.

There are a lot of scam lenders, they ask for fees before the funding which somehow never happens. I also mark those message as spam myself, i dont believe that sort of solicitation is allowed here. i would avoid anyone sending those sorts of messages here. 

Post: Why was this CraigsList ad flagged for removal?

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771

Maybe the last 3 lists? They do look kind of spammy since the descriptions are so strange.  Instead of phrases like "dogs playing poker" and "quentin tarantino" (which make zero sense to me) maybe put the BR/BA mix and the cross streets, don't try and get too cute with it. "just the facts maam"

I have also had posts removed when I was putting "discriminatory" things like "no smokers" or "no evictions", removing those phrases kept my ads up.

Post: I have a meeting with the possible wholesale buyer.

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771

If you are selling your house, ask them to refer you to a realtor and put it on the market so you can get fair market value

Post: No income but plenty of assets and can't qualify for a 198K loan

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771
Originally posted by @Jesse Flores:
Originally posted by @Francis Louis Vogel Jr:

Jesse,

You need to be properly capitalized with income to support the debt service. 

@Francis Louis Vogel Jr - I completely understand the situation I’m in now thanks to all the feedback I’ve received.  At this point I just have to make a decision..,

Thank you for your advice!

Best regards,

Jesse 

Hopefully your decision is to walk away from this, you've got several people in here telling you this is not a good deal.  

Post: Contractor stole $40K

Account ClosedPosted
  • Investor
  • Columbus, OH
  • Posts 861
  • Votes 1,771

If you are having trouble finishing the house due to financial strain, do not sue anyone until you are in a better financial position, especially not the bank.  Legal costs will bury you.

Put priority #1 on getting that house done and sold, or refinanced, whatever gets you back on stable ground.  Then you can go after people to recoup your losses. However keep all notes, records, photos, screenshots, emails, text messages etc in the meantime.

Until then, know you are not alone and I am sorry this happened to you. Getting ripped off in this game is unfortunately too common.  Here's a thread about something similar happening here in my city, this person got ripped off by TWO different bad contractors and a bad wholesaler, and lost a bunch of money:

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