All Forum Posts by: Romney Salanoa

Hey guys,

So I was looking at home inspecting for another source of income but I am worried about finding jobs to actually make this income. Do you guys have any tips on finding more jobs or getting more exposure to increase funds for investing?

Anything helps,

Romney

Hey Austin,

The book I am currently reading is never split the difference by Chris Voss. This book isn't directly relates to REI but this book is one that can be used in almost any endeavor especially when making deals. I have used some of the info in the book for several off market deals.

Hope this helps

Romney

Hey Billy,

If you don't want to call a service company I recommend using a dry stain remover sponge first then some soap, detergent, or a mix of both and a lot of scrubbing. Then I used a cup of household cleaner for every gallon of warm water and of course more scrubbing.

Hope this helps

Romney

Hey Kacper,

Flipping a home or anything really is all about the numbers. So you want to take things into account like rehab cost and condition of the home as well as location. These things seem obvious but that is the main things that really matter, and it's unique to every property. So just run the numbers, it's less of the type of property but the ROI you would get from the flip.

Hope this helps

Romney

Hey Tyler,

How much longer can you wait? Because currently there are many states that are doing tax lien auctions where you could get homes at a much cheaper price. And I am guessing you don't want to wait forever so I would take around an hour out of your day to research which states have a 6 month redemption period and start from there. This  is a nice way to get a home for cheap and if you don't get the home you get some interest back for your money. AZ is done for this year but their several states in the east that still have upcoming auctions, like some counties in Maryland for example and they have a 6 month redemption period.

Hope this helps,

Romney

Hi Logan,

If you feel like you are ready or even if you aren't I would start attending REI meetups in your area to hopefully get a mentor or even possibly a partner for these deals that can show you the ropes while giving you the extra money you would need to fund these opportunities.

Hi Steven,

For the the rent control portion Newark is subject to rent control and its based on CPI (max 4% increase each renewal period or end of lease). Hope this helps.

Respectfully,

Romney

 Sounds good, Thank you so much for the information.

Hi so I just have a few questions. 1. when buying a Tax Sale Property is the winning bid all you have to pay or is there other hidden fees? 2. If the home is appraised at a certain price does the government make you sell the home in a certain boundary around that or can you sell it for whatever? Any response is much appreciated, Thank you for your time.

 Thank you so much for the insight, I will get on that right away.