All Forum Posts by: Rick Doctor

Alright friends.  I figure I should put this PRO membership to work.  I am a newbie.  Currently my plan is to begin driving for dollars in my backyard.  I have found a dozen properties that look to be distressed or vacant.  The plan is to begin mailing to the owners.  

Hurdle #1

Some of the properties are owned by LLC's or by So-and-So's HEIRS. Do I send my letter to the addresses listed for these owners? Or is there another way to ensure I am getting the mailer in the right hands?

Hurdle #2

If an owner comes back with an interest to sell, how should I go about locking the deal down? I live in Orange Park, Florida (pretty much Jacksonville, Florida). I will need contractors for repairs. I will also need a way to secure financing. Ultimately, I want to execute the BRRRR method of investing.

BP Nation, a young'n (I just turned 30 so maybe I'm not as young as I think I am) is asking for your help.  If there are any VIRTUAL MENTORS out there in the Jacksonville market that wouldn't mind sharing some knowledge I've love to hear.

Some things about me.  I have an RE License.  I am really good on the phones and building rapport with people.  I'm great with numbers and consider myself an excel wizard.  I'm a Christian and would love to get hooked up with local investors who value Honesty and prioritizing Win-Win Deals with homeowners.  If there is anyone in the Jacksonville market that thinks they could use my help and can help me out as well, please don't hesitate to contact me.

Thanks in advance BP'ers!

Rick

I just bought an fha home this year, but now I am thinking about selling it to get into a quad deal. What do I need to know about this strategy now that I already have a home I'm living in on an FHA (bought June 2016).

I'm new to investing and looking to put my team together in the same area.  Any good leads on a great CPA would be awesome.  Thanks in advance guys!

Thanks, Bram.  I am a newbie to this and am looking at a property and the rents in the neighborhood.  Comp rents are around $1,100 and I think the seller may be interested in taking $110k-$120k.  Comp solds in the neighborhood are around $135k-$150k.  I've always been interested in buy and hold, but I think this deal makes more sense as a fix (very minor fixes, all cosmetic) and flip.

Hey Guys,

I'm trying to figure what I'm missing here.  Do I go with the 2% rule on rents I hear all over BP or the 0.8% rule on rents from The Millionaire Real Estate Investor by Gary Keller?  They give drastically different numbers.

Thanks,

Rick