All Forum Posts by: Gerald Harris

That can't be a real problem. If the neighbor has no professional real estate experience in managing a property it can really hurt you down the line. Contact other real estate investors in the area and ask them who they are using to manage their rental properties. You can even contact other real estate agents and brokers. If they are all mentioning 1 or 2 managment companies then contact that management company. You want to screen your tenants as much as possible. Make sure credit and income are on the up and up. In the long run, this will solve half of your problems.

Looking at both scenerios on this deal it looks like a win/win situation. If you want to flip it you will do great, if you keep it the positive cash flow is strong. This is something that most of us strive for when involved in real estate investing. I have had deals like this in the past, but the monthly positive cash flow wasn't as attractive as this. Good Luck to you!

It will go through

Just focus on the end result and you will be fine. Congrats on the 1st deal. Good luck to you

The best and most effective way to find these types of deals is to subscribe to a paid for list. In past times i would use listsource. It is a website that sifts these out for you. When i lived in California there were several that I use to subscribe too. You can look in the public newspaper, but the best way i went about this was sending 300 to 500 mailers ever 10 days to people in default and getting deals that way. Now living in the Charlotte NC area its a little different. California had more resources when it came to this type of marketing, but also there was more competition.

Hey Matt

Being a former real estate agent at this time you could lower price, but we are coming into spring. If you were getting great traffic before Christmas the buyers will come. Typically the number 1 reason a property does or does not sell is price. If you do have some concern have your agent pull up sold and pending comparables in the last 90 days, within a 1 to 2 mile radius of your home. This will give you an indication of what is going on in your areas. Pendings will show the type of fluctuation and activity of peoperties getting ready to close.

In this day and and age of real estate, which to you think is more profitable? Real Estate or Virtual Real Estate? I love BP. Its a place where you as a real estate investor can go to find endless information and encouragement.

It is now 2014 and the real estate market is slowly but surely healing. In some areas better than others. My business model is Wholesaling, Fix and Flips and buy and holds.

I see real estate related sites like Zillow, Realtor.com, Trulia worth millions of dollars. I wonder which is a more profitable investment? Physical real estate or Virtual real estate?

A good way to research buyers it so find contact a licensed real estate agent in your target area. Have the agent pull all of the cash tranansactions that have happened in that area within the last 6 months. Now you have a targeted list of all cash buyers. Shoot them a mailer letting them know you find deals that would fit into their buying criteria.

J Martin is correct

Lots of information here in BP. The principle of wholesaling work in most markets. Some markets are better than others. But the steps and principles are the same. There are people making it happen in Expensive area like California and New York. There are others making it happen in Tenessee or South Carolina. Some markets are easier than others. Keep studying and keep networking and growing and apply what you know. You will make mistakes. We all have. But you learn from them and keep moving!

Hey Trevor

I know exactly what you mean. I was born and raised in Pomona, CA and currently living in Charlotte NC. The more than 1% Rule can be achieved there in Cali, but you have to look in different areas. San bernardino, Some parts of Rialto, Fontana, Riverside and outlying areas are you would be able to achieve more of a realistic return. going towards LA like area forget it. Super expensive in many of those areas. You could try the high desert areas like Victorville or Hesperia. Most of my family moved up to the Desert because it makes more sense. But the drive to work is down the hill is CRAZY!!

This is Great! I definately need to connect with more people locally to help me to understand my area more.