All Forum Posts by: Rich Schroeder

Not sure if this is a good idea or not, but I just thought of it last night.

for lower income rentals (A.K.A. people who have a hard time saving money) you could start a "Christmas savings fund" (or holiday if you're politically correct"). They would voluntarily give you $20 a month or whatever amount they want to, you put it all in an account and then disperse it to them on, let's say December 15th. In the meantime, if you have enough people participating, you could earn interest off of that money all year long. It also might help them pay their rent in January :lol:

just a thought.
-Rich

Mike...so the past evictions show up on the criminal background check? Sorry for the stupd question. I just didn't think that it would show up there. Also, does it only show up if a past landlord sues the tenant? Or does it show up because the sherrif is taking action?

Also, how do you notify the applicant that they have not been accepted? I know I need to learn the law where I'm at, but for you...do you have to send something in writing or can you do it over the phone?

Thank you in advance. -
Rich

I think this goes back to common sense.

Yes, most strains of hepatitis can survive for a week (not weeks) outside of the body. The exception to that would be HAV. And how do you get hepatitis? From the transfer of bodily fluids. So don't drink the blood. :protest: I know that's a little extreme, but you get my drift.

I feel that in most cases, if you use common sense in protecting yourself, you're ok. Otherwise call in a professional (especially if you have no clue how to protect yourself).

just my .02

BTW I'm a life insurance underwriting consultant by trade. Not that that means much, but I know a little bit about a little bit. :D

-Rich

wow, seems like every one of your posts is an advertisement. I think there's a special section for that.

You are correct, big profits are made from big changes in the market, and certainly SFH's can be part of those big profits if done properly.

In a world filled with people that want to take my money, it's good to meet someone that wants to make me 10% guaranteed return on my investment. :roll:

-Rich

Can't he do an offer contingent upon the inspection? Wouldn't that give him an "out" on his earnest money?

Thanks,
-Rich

yikes...My suggestion would be to save as much cash as you can, while learning as much about the business as you can, and work on improving your credit.

I personally wouldn't recommend putting all your cash on a down payment and not having any reserves.

thanks,
-Rich

sorry to take space on your thread Minna...

Specialist- stupid question....why do you say 6 months from now? I understand (generally speaking) that housing was over-priced and anyone with a pulse could get a loan a while back, and that a lot will be defaulting...but how do you figure 6 months? How can you be so specific?

Thank you in advance,
-Rich

can you please clarify what you mean by "they are really strict"? Do they come in and inspect the electrical and plumbing? The condition of the carpet? The roof? All of the above? Or are they just looking at square footage?

Thanks for the help.
Rich

I'm in IL...after over one year of doing some hard work (researching 7 days per week, meeting people, attending meetings, etc.), I'm starting to find the deals similar to Mike.

Now I am going to pack up the family and move to a certain area of Wisconsin where I can find 2% rentals on the MLS. Then I will work hard to find 3% deals in that market and not settle for 2%.

The point is...you have to WORK HARD to find these deals. In my case, I'm moving so that I don't have to work as hard :wink: You cannot say you won't find those deals until you've actually looked for them. And looking for them does not mean loopnet or realtor.com.

-Rich

where do you set something like this up? Directly with the big 3?

thanks,
-Rich