All Forum Posts by: Jason Hanson

Cash for keys is a great idea and usually works. Individuals need to start thinking like business people and leaving their emotions behind. If you can pay someone $500 to vacate and save yourself $1,500 in the long run then it is certainly worth it. If the numbers are in my favor I will pay folks all day long.

I have used Quicken Rental Manager for years and have been very pleased. The software is simple, no bells or whistles and that is how I like it. There is no need to complicate this business.

I screen them like everyone else does. I also give them a very "firm" talk about how I have a zero-tolerance policy for non-payment of rent. I want to make sure I scare off professional tenants.

You will want to call your insurance company and tell them you are renting out the property. You will get a landlord/tenant policy.

Also, you must make sure your tenants get renters insurance to cover their possessions. It is very cheap usually 10-15 bucks a month.

You need to be networking in person and going to your local real estate investor meetings. At those meetings you will meet folks who will be able to give you contracts, who will tell you the investor friendly title companies to use, etc...

All of my horror stories invlove carpet soaked in animal urine. Even though I have my employees do regular inspections, it still amazes me that some people can live in such filth, when a normal person would vomit.

Then again, when I walk into a property I am going to purchase and I smell urine, we all know that is really the scent of money.

The beauty of this country is that anyone can voice their own opinion-and we all know what people say about opinions.

I have looked over Reed's page and of course some of the things he says are true, but many of the gurus he rates negatively, are in fact good honest real estate investors.

I wouldn't rely very heavily on anything he says.

Age is never a problem as long as you believe in yourself. I started out when I was 22 and even though some people gave me a hard time, my persistence carried me along and allowed me to become a successful real estate investor.

If you start now and work your tail off, you could truly be retired by age 30. Good luck and I wish I had got started when you did.

I would not start out doing a rehab with your first deal. Most people start out wholesaling which gives them quick cash and also boosts their self-confidence because they know the business actually works.

I have seen too many new investors get killed on their first rehab deal and leave the business because it put a sour taste in their mouth.

You don't want to be dealing with contractor nightmares, when you can wholesale and make 5-10k, deal after deal.

First of all, I am not a lawyer, yadda, yadda, yadda. Now that's out of the way, most people set up LLC's for their real estate investing business. They are very cheap and easy to set up.

As far as a name, I would use a professional name such as "blank" real estate group, or "blank" real estate solutions. I would NOT use any type of name that says we buy houses, or we buy houses fast.

You want a name that is generic enough to describe the many different roles you will play as an investor.