All Forum Posts by: Brian Schroeder

Tax lein's is one avenue I was going to look into that this year. I did attend a tax deed sale, but a lot of crap there. unfortunately I got called out of town on the week of the tax lein sale. Which was Oct 30. so, I have another year to wait. Any information on tax lein sales, I would like to hear as well. I have asked my county building, and it sounds like the rules and guide line are in the lein list. In which here in sangamon county il, the list cost $200.00 is that average, a lot, or a little? thanks PS
I am new to investing, I have a lot of idea, but with limited funds I'm not sure what to jump into. I was looking a tax leins, tax deed, and I am looking into a 4 plex. I think I will go with the 4 plex, I just have to figure out how I can finance it. I don't know if I sould post this part of this message somewhere else.

I'm looking for any REI investment club's or any groups that will alow me to learn and grow in the centeral, Illinois. I'm good with my hand's as far as remodelingand consrtuction. I'm HVAC certified, so it's not like I can't contribute.

My question is, how do you go a head and ask for money from investor's? I'm going to try to get some family and feind to invest some money for the down payment in a 4plex. but if I can't raise the capital how do I ask for investor? would I offer 9% intrest 8% or 12%? Of corse I don't want to pay to much be I would like to get started. I thought that I might ask for 1000.00 from eash at 9%, that way all you rich people out the will think that's not much to loose if this guy desides to go to the bahama's or something. That way I will build a repoor with some investor's. any thought's. I'm pretty sure that I can raise the capitol, but if not I would like to learn, and this in a question that I have had.

I've been told that it's not a good idea to in vest in a property that is more then a hour away, which makes since.
How can people invest in real estate 1000's of miles away? I know it is easy,if you put together the correct team, but how do you know John Doe with the best investment opertunity isn't Joe Scamer? (in the camon's) how can you tell if a company in on the up and up? check the BBB in that area, maybe the aterny general, andything else?

What is a REO (bank owned) management and sales? or a real estate holding co. what does it take to get staterd? I think I would be more intrested in RE holding co. I'm thinking about trying to get a couple of property's and hold for income, or sell them as a profit. Is this a RE holding co, or just an invester? thanks.

So you don't have any client's that you call first if something come up that sounds like a great deal, to see if they want to jump on it, because you know they have the resources?
If that client say's YES I want it, then you don't have to advertise, (lowering your cost) If he say's no then you start your normal process.

Thanks, Jessiesc that is what I'm looking for. Say, when a property comes out on the market, a devorce couple, BAD DEVORCE, they just want it sold, and they want it sold tomorrow, you explain to them if you want it sold tomorrow, well I will need to list it at 60% of the value. They say I don't care I just want XXXX out of my life. so, sell it at 60% I just want it done. This is agreed upon by both man and wife. The big question is how do YOU call. AND WHY, because they only pay you the standard commision?

I'm sorry I hit send before I was done. on this question I would like to hear from some RE agents. Or any comments from any one else would be fine. thanks Brian

I do believe that you get what you pay for. With that said, I have been thinking about talking some re agent's in my area. My question is what would make an agent very interested in my well being? My thought's are, if the going rates is 5% to 7%, I will offer 10%. But for my 10% I would ask for some insurances. What do I mean by that? I mean if the going rate is 7% (I think that is what is) then I will give them another 3% on top of there 7% they got on the sale, from the seller. And if I don't make any money on the deal. Then I will pay them 4% on the sale, when I sell the property, if I do make money then I will pay the full 7%. So, everything said and done they can make upward's of 17%, that is if I make money, if I don't make money, then I'm only paying the going rate. (7% from the sale to me, +3% and the sale from my sale of 4%, would be a total of 14%, the normal commition) I'm thinking that is generous, because I fell that the re agent should lose too, maybe if I only pay only 2% at the sale of my property. That way we both have something to lose, if the re agent is a sleep at the wheel, and doesn't do there home work. my feeling on this is if I lose they're not going to try to sell the propery knowing there is only 2% in it for them. If I did the first option where they could get 17% and the worst thing that will happen to them is a normal sale of 14%, then I would tell them that if I lose, then you lose my business.

I was wondering how to start a investment clud and networking. I live in a city of over 110,000 people, I would think that there is some kind of investment club in the springfield il area, but I can't find one. any help? Thanks Brian.