All Forum Posts by: Scott Patterson

Ahh, then the issue is the mls, apparently the market is too tight, so you will need to pursue properties off market, pick a couple of neighborhoods, say about 2000 houses and mail to the landlords and properties owned more than 20 years, mail them every other month and correct addresses as they come in etc, keep mailing till you have all of the houses you want.  You could also find all of the wholesalers and get on their list as well.

I would recommend looking in the surrounding markets of Concord, Gastonia, Monroe etc

First, you need to fire your realtor, the first clue is that you are coming here for advice on your listing and everyone is telling you the same thing, which the realtor should have been sounding the alarm on before he even listed it.  Find the top selling volume realtor in the area and get their advice and have them list it.  but yeah, you need to take if off the market, stage it and spend some money on curb appeal. Again, any realtor that let you list that house with that curb appeal deserves to be fired asap.  Probably budget 3k for staging and 5k for curb appeal.  Stop thinking about whether or not you will lose money and concentrate what you need to do to maximize the sale, your time for making money is for when you buy, not when you sell.  Trying to protect yourself from losing money now will only make the loses greater.  

The meeting is on the first Tuesday of every month at the Olde Mecklenberg Brewerey and starts at 630pm

Guest Speaker- Karl Spielvogel

Topic- Uncle Karl's Knocken Foreclosures & Real Estate Bedtime Stories

Dude, check this out, Karl is an OG in RE. He was killin it back in the day and had the downturn hit him something terrible like yours truly.

After telling him for years to get back in to Real Estate, he finally did and unleashed his real estate investing knowledge and experience into the foreclosure world.

Now, he is killing it like no one else in the pre-foreclosure market. This isn't hyperbole, he is f******  killing it. Frankly, I'm jealous of his success and wish he would tone it down a bit so I can feel better about myself, but no, he just does more deals and more deals while I cry myself to sleep wishing I could be like Uncle Karl.

So luckily I was able to guilt him into spilling most of his real estate and in particular pre-foreclosure secrets, and I plan on getting him a little tipsy so he spills some stuff he didn't mean to.

I thought about charging more for this meetup, say $97, but even at that price it would be giving away, so wtf, if it would be giving it away at that price, why not just give it away at the regular price. So $20 or 2 for $30 gets you more real world information on real estate investing than you have ever heard in one sitting.

Even better, he said he needed the whole damn time for his presentation so I won't be speaking that night but will deliver you some book reports, where i tell you what you need to know out of some awesome books so you don't have to read them.

Get there early, it will be the highest attended one and may end up with standing room only for the tardy if they can even get in. 

https://youtu.be/YehLCVdaJLQ

https://www.meetup.com/Real-Estate-Investing-Trenches-Unfiltered-Scott-Patterson/events/239168265/

yes, i think 5k is reasonable, i would want to recover my outlay in 2 years, but I would value after expenses about $300/ month and would assume i would have to improve for about 2-4k to get rent ready.

I would also consider how old the loan was and therefore the loan pay down rate

lol, don't invest in crowd funding of any sort, even the article she links to doesn't recommend them for young peeps like yourself.  i would go further and say they are terrible for everyone, high risk, low return, generally speaking.

if you are saying the house is in charlotte, i can buy it from you, jv with you, or just give you advice.

ummmm, Austin, hands down, you live there.  invest anywhere else and you will get ripped off and have much higher management and maintenance costs.  but if you insist, give me the 250k and i will find you 200k of property.

lol, nope, not standard at all.  I've actually never heard of  it before.  I don't have tons of experience with different property managers, but i feel like if it was even somewhat common, i would have heard it before.  I don't know which is more troubling, her reaching for the 6% or her telling you it's standard when it's not, or being clueless that it's not standard.