All Forum Posts by: Tom Bukacek

How has business been going since the tax credit? Has anyone noticed a slowdown or has it been business as usual?

In Austin, we're still finding properties and selling them. My title agent told me she was swamped but it was due to contracts in April.

I've got a blog (http://www.entrepreneurs-incubator.com/blog) that focuses on articles relevant (hopefully) to real estate investors who focus on pre-foreclosures.

Anyone have any ideas on how to get updates on government activity regarding real estate? I think a legal blog would be important to have.

I like both Pete's and Harvie's ideas. It would be great to see a column about what the government is up to. I don't know where to get information like that so a weekly newsletter would be valuable.

Also, interviewing some of the people who have the highest influence points and showing the transcripts would be beneficial as well.

All great ideas in my opinion.

I would also contact a Real estate attorney for advice on your contracts in your local area. Some attnys may recommend you use the Real Estate Commission contracts and he'll give you ideas for an addendum. But it's best to gain legal advice for contracts.

Also, make sure the attorney you use is a litigation attorney. There are several real estate attorneys that never step foot into a court room. However, wouldn't you rather have a contract from an attny that will go to court and defend it?

It may cost a couple of bucks, but it's worth it to set your business up the right way. As my old mentor told me: "If you can't invest in your own business, should you even be in business?"

Congrats on getting 3 responses so far. If you get 14 responses by mid month, you've actually surpassed expectations on postcards.

Like Michael said, using a yellow letter campaign may cost more but you get more results. Also having a website will add to your credibility as well and may lead to increased results.

If you're serious about a career in this industry, you should look to invest in a marketing plan and processes. $2000 will allow you to afford a direct mail program, bandit sign program, newspaper ad, etc... Create your goals and your budget, then implement 5 different types of marketing and you should get your phone ringing with opportunities.

Mike- here's a good article on wholesaling for beginners: http://www.biggerpockets.com/articles/863-the-basics-of-wholesaling-for-beginners

From what I understand, there are 2 situations where rent skimming occurs:
• Collecting rent from a tenant in a residential property within the first year of owning that property, without applying that money to the payments due on the mortgages for that property.
• Collecting rents from a tenant in a residential property that you don't own or operate on the owner's behalf. This could be someone falsely claiming to own the property, or trespassing on the property to rent it out, or "any other unauthorized means."

If you have paperwork signed by the hometender as well as a POA, then you are not violating either of the rent skimming clauses.

Most of the time rent skimming refers to a landlord who is collecting rents and not paying the mortgage. Home tendering appears to be legal.

Have you heard of a hand written yellow letter campaign for commercial property? Would it be a similar message? What are your thoughts?

Josh,

I'd be willing to assist with content as well.