All Forum Posts by: Randal McLeaird

Hi people -

I just booked in for the Summit and I'm pretty excited about it. I was working with a business partner here in SA who decided to take a step back. I mention this because we would usually split the cost of the hotel and cabs and all that when we went to events.

So, I'm just curious if anyone is interested in splitting a hotel room for the Friday night at the Hyatt? Seriously not a big deal if its of no interest to anyone but thought I'd ask. I'm going to go ahead and book the room and if anyone decides they want to split it we'll sort it out.

I'm getting in early Friday and leaving late Saturday so only getting the room for one night. If you need more nights, you need to book them or call the Hyatt and we can explain whats going on.

Looking forward to seeing everyone there.

Agh - me too. I've been away from BP for a while now and just booked my flights and tickets and about to post here to see if someone wanted to split the hotel cost at the Hyatt.. Just saw this and I was about to post to get me some free tickets! All good, looking forward to it. If anyone has free rooms to give away - I'm all ears

Thanks for the reply. I'm talking about buying multi-family propeties. 50+ units. Locally to start with. Analyzing the numbers and understanding the value compared to the risks. how to mitigate those risks and so on.

I would like to think I'm asking these questions to avoid the 'lucky' guess investment.

Anyway, I know you were just making a point. However, your reply comes off as if you're annoyed with my question. You don't need to reply if thats the case.

I realize the need to understand the local market and the local government, the population trends and all the other items you listed. Its one thing to see those numbers, it's a different thing to understand how they will directly relate to the proposed investment. I want to understand that relationship. I want someone who understands that relationship to teach it to me in the fastest way possible so I don't spend a long time trying to figure it out on my own.

I have a formal education in political economy. I'm looking for a link between that and investing. The very reason for my post was to figure out a way to continue my education. So, if you can offer any direct advice to that matter I'd appreciate it. If not, someone else probably can.

have a good one

yeah they were about 250 pages of a sales pitch. The topic of a chapter would be, evaluating a deal and it would have one sentence about the topic and then he'd explain a great deal one of his students did and end with, find more at my website.

Hello all,

I just read a couple Dave Lindahl books and I'm ready for apartments...well...not really. I want to go to some seminars on CRE so I can better understand how to analyze a commercial deal and also learn the best way to speak to the owners. SO, if anyone knows of any semiars coming up, or a great person to go see, please help me out. I'm not afraid of books so any books that deal with the two things I mentioned above would be ideal.

Also, I'm still looking to learn more about notes and how to package up some of the ones I have and sell them. If not package, at least sell them. I read a couple books and had some really old info given to me by our local investor club but I think a lot has changed in the note world since this stuff I have was written. It's Donna Bauer's stuff. SO, if you know any up-to-date books or seminars for this, I'd appreciate a heads up.

All the best

You can buy a list in your targeted area, that will give you the equity spread you're looking for. Mail to the list or go knock on some doors. The trick is finding a good list source. I'm constantly looking for a better list provider so I can't help you there. Check some of the other posts for that. Good luck

Hi guys - I'm looking for more properties I can buy on the cheap and seller finance for a premium. I've heard guys around town getting $5-15k houses (i've been getting them around $25k) justby surfing the internet and making calls to sellers.

I jumped on every single FSBO site I could and lots of garbage sites that do nothing. I looked on craigslist and there are so many investors posting their rent-to-own deals on there that if you limit the search by price up to $30k or so, the only thing showing up are other investor ads with their monthly rental rate.

So, I'm just curious if anyone else has any thoughts or has had good luck with certain sites. If this is against the forum rules to ask for specific websites, please PM me. I appreciate any tips or tricks you guys might be using to get your deals.

Randal

I just wanted to add that you might want to keep track of these results as well so you can track how many calls it takes for you to turn your efforts into results. You'll never know if you don't track it. And you'll never know if you wanna keep putting signs up over focusing your efforts on an easier lead gen method because you won't know the effectiveness of each type of marketing. Just my .02.

Ken,

Pretty cool post and glad you got some results from your efforts. I did the same thing last year around this time. I went to a plastic distributor and fabricator and got a TON of the pieces of plastic cut down to a standard size 18x24 and they carried the H-frames on the cheap. I got the signs cut 2 different ways so I could use the H-frames on verticle flutes and the horizontal fluted signs on the telephone poles. I was out at all kinds of hours putting these signs up and trying to dodge the sign police. I eventually got a listing out of it because I couldn't buy the house. The house sold and I got my deal but I also got busted by the sign police and had to go pay a fine at court. lol. sucked but overall it was a net gain except for the massive amount of time I spent writing and hanging the signs. I got tired of writing after about 5 signs (and my handwriting is terrible) so I got a sturdy piece of plastic from Hobby lobby and some stencils and cut out "we buy houses" and the rest of my pitch in this harder piece of plastic. Once I had my layout I just got a spray paint can and sprayed the signs. I could knock out 100 or so in no time. Only problem is if you change your # you've got to spend the time cutting out another sign in the hard plastic but its still a LOT cheaper than buying them pre-printed and they're readable - which is key.

Anyway, haven't done bandit signs in a while since I got busted and learned that Realtors can't use them here. But, if I weren't licensed, I'd be out doing the same. Best of luck

I was just talking to my bank about this the other day. I personally don't want to go collect rent or go to the bank to deposit checks if I can avoid it. I give my account info to the tenant and my bank recently told me I can buy pre-printed deposit slips with the tenant name and property address and just give it to the tenant. Now the tenant either mails the check to the bank as mentioned above, or they go to the bank to make the deposit for me.

Right now I have it set up so they call or text me when they put the money in so I can check it off as collected.

I can have one single account and then review all the deposits at the end of the year or I can create a different account for each property. I think the different accounts would be good for tax time but it could be a headache to log into each account or make transfers out of each account each month.

I know there are some property management software applications out there but they can get pretty expensive so it's not worth it if you have less than 50 or so properties.