All Forum Posts by: Ron Lerman

We pay our bird dogs anywhere from 1-2% depending o the property.

Start your own site. You'l save money and be able to update it yourself as you need to, rather than depending on others.

I also have used Scott's materials and have purchased an 80 unit and 96 unit as a direct result in the last 12 months. I actually have an extra copy available.

Yes. My partners and I are currently looking at properties in Texas, North Carolina and California.

Find comp sales in the area and find out the sales price per sq. foot. From the comps you should also be able to find out the expenses per sq. foot. After this process have a contractor or inspector give you a quick idea of the repairs needed. Don't forget to add in a vacancy factor. From this number you will have a potential value of the property. With it vacant for 8 years, I would offer no more than 50% of the proforma value. I think you will also have many more repairs than are found initially. 8 years is a long time for a property to be vacant without major damage being done to the property. This being said, I think you may also have a difficult time getting financing, in today's market, without a financial history on the property. Point this out to the seller. He has probably had many deals fall through over the years because of the vacancy. This may further encourage him to lower his price.

I used Scott Scheel's course. I actually bought 2 apartment buildings as a result of the info I learned. You might be able to pick up a used program on Ebay or Craigslist.

With a "good price" I would suggest that you look at WHERE you are advertising, rather than how much you are selling for.

10% seems VERY high to me. I have never seen anything higher than 6% in the last couple of years since I have been buying apartment buildings. Negotiate or find a different agent.

Does anyone know of a networking group for those interested in investing in or financing apartment buildings in Los Angeles County or Orange County California? Thanks.

I have gone to his boot camp and read his books. The books are interesting and have some good information regarding real estate cycles. The boot camp materials are put together in a very sloppy way, in my opinion. The real value in the boot camp for me was networking. A better boot camp was Scott Scheel. As a result's boot camp my partner and I bought 2 apartment buildings (96 units & 80 units).