All Forum Posts by: Alex Anderson

Hi @Dawn Anastasi great post...maybe I should follow up and piggy back off yours and show BP members what a $32,000 duplex looks like ;)

Hello and welcome!!!

Tucker Merrihew is a BP member and also from Portland. He has a great podcast with a lot of information. If there is anyone who knows the Portland market, it would be him! Check out the podcast below

http://www.biggerpockets.com/renewsblog/2013/06/13/marketing-new-construction-tucker-merrihew/

I've found that not every municipality will list this information online, but you could also google the address. I think city-data.com may have information about the owner, but usually not the contact information. If you know anyone in the Title business, you could reach out to them and get information.

Hi,

Love the bicycle!! I ride my bicycle around areas i am looking in also. I feel that you're able to gain different perspectives than you would otherwise in a car. Under the [Resources Tab] click on the "FilePlace" link. there are templates for yellow letters.

Depending on the city or county, you can find out the owner's information by accessing that municipalities assessor's database to find information on the property. Hand written letters addressed to the owner of the residence would be the best, otherwise they might think it's spam and rip the letter up.

Also, peruse the podcasts under the [Learn] tab. There is some great information regarding wholesaling and approaches.

Let us know which approach you take!

Dion, they do a lot. Just watch "flip this house" on a&e

I attended the FB summit in Milwaukee, WI last weekend. it was an intense 3 day event from 9am-7pm Friday-Sunday. I interviewed for the "mastery" program. You're paying really for all the systems that they have, documents, and contracts, and contacts. Great in theory.....funny thing MAJORITY of what they were teaching I read for FREE in a book from the library called "No Money Down" and what i've read from spending time on BiggerPockets!!! :D I did not purchase the $25k mastery program and received an email the next day from someone who wants to talk to me about another offer.

Funny thing about this 3 day event I went to...there was a pre-screening event in Milwaukee a few weeks ago. I went on the last day and they offered this event to us for $200 saying it was worth $1100. My friend went the day before me and they were offered the 3-day event for $1400 claiming it was worth $2800. They made FortuneBuilders and CT Homes made $17million last year and yes they do good work, however a lot of the $17 million made came from the educational side of the business, selling the "mastery program" to put it simpler...inorder to make $17 Million in just rehabbing and flipping you would need to make:

$50,000 NET profit every single day for 365 days a year...that would equate to $18,250,000...just a little food for thought ;)

Hey Steve,

LOL yes that is a great formula and I actually offered the sellers $154,000 which they countered at $218,000

I think they would have thrown up in their mouth if i offered them $117,500 haha

the rent is broken down as follows:
unit 1: 625
unit 2: 575
unit 3: 600
unit 4: 550

this property is 2 blocks away from the Lake Front and comes with 4 parking spots. The sellers, i'm certain, are drowning in debt. My counter to theirs will be $175k

well steve the "banker" title was the closest to what i do..i'm an underwriter in the Loss Mitigation department

Hey everyone. I'm in the process of bidding on my first 4 family and want to get everyone's take.

The asking price is $219,900
Gross rents received at 100% occupancy: $2350
Net cash flow according to seller: $15,000
Capitalization Rate: 6.8

3 out of the 4 units are in great shape, and the place is at 100% occupancy.

What do you guys think?

i'm about to look at a property owned by BNY Mellon on Friday...the asking price is $44k and the city assessed the property at $197k a few years ago, now it's down to $165k assessed. Market value is approx $117k. The place appears to have been vacant for years, according to the city inspectors...wish me luck :)

What I usually do is get the property information of the city or county assessor's web site. that usually has all the owner information. If it's a LLC, I do what you do, i go to my state department of finance homepage and search for the LLC.

http://www.pipl.com and enter in the homeowner's first and last name and it will pull up everything related to the name. Facebook accounts, myspace accounts, court records (if there are any) Just be careful you don't contact the wrong individual LOL