All Forum Posts by: Richard Nash

Yeah, it's looking like it's going to be a huge fight in courts and not really worth my time. Thank you for your input.

I'm not sure. I thought I would throw this general question on the forum so I can get some more questions to ask. I want to make sure I am thinking on the same page as her.

*Edit

She currently has a VA loan on the house.

I need some help from some smart people. I recently saw a post on craigslist about a house where the owner said she wanted sell her contract to an investor since she was out of town and didn't want the property. I instantly called on this property!

On the phone call I asked generally what was happening. She said she moved to Vegas from Idaho and has tenants in the property who are not paying. It sounded like she put a type of lease option with them. They have not paid, but their names are on the deed as well. She said she tried to take them to court but couldn't make it back to Idaho so she couldn't evict them so she is getting ready just to stop making payments on the house.

What would be the best way to address this situation?

Thank you for all your comments. They were all very helpful.

Hmm...good point. I keep hearing a lot about getting my real estate license. I went to one of those fancy guru courses and they said if I did get my licence I need to disclose this when I am making the deal...is this true, and does that adversly affect any deals?

Oh and Chris, as soon as I heard the word can't I was instantly turned off. I refuse to have anyone on my team who uses that word. I believe there is an answer to every problem. Some just require more thought and creativity.

Hmm...good point. I keep hearing a lot about getting my real estate license. I went to one of those fancy guru courses and they said if I did get my licence I need to disclose this when I am making the deal...is this true, and does that adversly affect any deals?

I saw a house for sale today in Nampa, ID. It was listed for 40K. The ad said it needed some work. It was around a week old. I figured it was sold but I would give it a shot anyway. Th realtor got back with me a few hours later and said it just closed. -bummer-

I am just starting out and am wanting a new realtor so I asked if he worked with real estate investors. He said he did and asked what I was looking for. I told him I was looking to flip or do lease options. Those seem like 2 relatively beginner-friendly ways of staring out.

He then said I should try to get a buy and hold. I am interested in those, but don't have the kind of long term financing available to get into one yet. He then told me that this was a very tough venture I was getting into and that I am going against many people who do this for a living. I listen to the BP podcasts every day at work and am very aware of this. He then went on for around 10-15 minutes telling me how small the profit margins are, and how I would fail since I am just starting out and am going against the "big dogs" and this is nothing like TV.

I kind of laughed at that last remark. I'm not sure what prompted that...I rarely watch those anyway since they usually go over budget and time frame every episode it seems.

I guess my question would be, how hard is it to find a good real estate agent who does work with investors who try to flip? Craigslist seems to shoot me those kind of eggs.

Great, thanks for your input! I'll make sure to get those questions tonight.

I am going to my fist REI club meeting in Boise tomorrow. I am new to this and was wanting some tips on what to ask about over there.