All Forum Posts by: Rocky Griffin

Driving for dollars. Cruise a targeted area and write down the address of properties that appear vacant, for rent and/or not well maintained. once you have a decent list, plug those addresses into your local county assessor website. This will provide you with the owners address. Take that address and start mailing hand written letters. Once an awesome deal presents itself, put it under contract and then offer the rights to that contract to investors. If the deal is right, it will go quickly. This is the most economic way to get going. 

Confirm his passing first. Then if true, you should absolutely refund the deposit. Remember, this is a people business. 

September 16th 2018

My original plan was actually to hold this property as part of my portfolio. However because of other opportunities I am looking to unload it. I do not know of any way to prove that sufficiently. Seems like a grey area that would call attention on myself from the IRS. 

I purchased a home for $7500 at auction. I have put $25K into the rehab of this property and am about to list the property for $70K. What is the basis when finding a "like kind" property of "equal or greater value?" The purchase price or the sell price? If it is the sell price, can I purchase a home for $50k and put  the remaining $20k into the rehab? 

I use yellowletters.com and use their recommended format. I have his moderate success with the limited amount I have sent out. 

@Account Closed I am not sure what questionable demographics you speak of, but you may want to provide statistics to support your claim. OKC encompasses 620 sq/miles. So if your going to encourage out of state investors to buy in OKC you may want to give them more specific advise. I agree that parts of OKC are great places to invest. But if you haven't yet noticed, hedge funds are buying a large amount of SFR's at retail prices. Making it more difficult for both local and out of state investors to find deals.

Very interesting technique with the LLC acting as a lender. I am curious about the tax implications associated with this method. I am finishing two homes as of current and will be looking for another soon and may consider this method.

I would suggest looking at a small suburban area near Oklahoma City. I invest in Shawnee, Ok. 5th or 6th largest town in Oklahoma. Economy is not driven only by natural gas. Large interstate through it. Large private University.

Try to google the owners name and Secretary of State. Ie “Tim Reed Secretary of State Oklahoma” or “SOS” and all variants. This may display his llc’s or business entity. Then plug that into the Oklahoma County accessor website and you may find the said properties. Work backwards through the process and determine values that way if he won’t allow you to sign a NDA.