All Forum Posts by: Tom Bukacek

Bryan A- I absolutely agree. A 3rd party servicing company is the way to go. Though it costs a little more per month for the new buyer, they will accept it for the piece of mind.

Andrew- great choice! It's the same wordpress theme we use and recommend.

Joseph- what are your goals? Transactional cash? Cash Flow? Long term or short term revenue? Your goals will dictate your strategies. There is a grid in this article that will align your goals, skills, and resources with the best strategy for you. http://www.biggerpockets.com/articles/2374-creating-your-real-estate-investing-vision . Good luck.

Post cards get thrown away and have about a 1% response rate. Type written, professional letters can be spotted and thrown away without even opening. Hand written yellow letters are very effective. PM me for some examples.

I've reduced the formula from 70% to 65% minus repairs (and if wholesaling, minus my assignment fee). It's a good rule of thumb.

Sales is the most profitable business in the world. And the pain part of sales is rejection. This rejection leads to procrastination, which is a reason why people fail in this business.

Ali- i appreciate what you are saying about the information being available on websites for free. I've talked with other investors who have said that they can get all the education they need from the library. However, the library and internet have been around for awhile now and people haven't done it yet. You get what you pay for in education; and no $ investment will generally leads to no action being taken.

Regarding Nouveau Riche (NR), I live in Austin where there are about 40 people who've gone through NR and are doing deals successfully and swear by it. There are probably another 200 people who tried selling NR and hate it because they didn't do a deal or sell any educations. Use your own judgement. NR doesn't make anyone successful or fail, it's what the person does with the information that matters.

Take responsibility for educating yourself and be accountable for the results.

Good luck with Phill's course Bob. Let me know the results.

Obama (and the left wing media) badly want a crisis to help build demand for an economy killing Cap & Trade ACT. And, my prediction is that they will attach an Oil Drilling Regulation Act to the Cap & Trade, thus making it political suicide to vote against it.

Just criminal

Sorry I don't have a pic of me giving thumbs up. I feel out of place.

Get the property under a contract with an inspection period and a various attorney approved contingency clauses. Then market the heck out of the property. If it's a good deal, you will find a buyer.

Also, don't worry about double closings. Simply have your attorney draw up an assignment contract and charge a fee for assigning the existing contract to the end buyer.

"Do we agree that stiffing the original seller with the house in the event of deflation is unethical? It may not be recourse to the buyer, but it is certainly recourse to the original seller. "

Yes. If you're purchasing subj to and wrapping the note, you are purchasing the property. If the S*** hits the fan, and the value drops 50% and your buyer walks away, it's your fan. You don't just give it back to the Seller and walk away with your profit. It's the risk that is involved in being an investor purchasing sub to.

If someone is actually touting the above scenario is an actual exit strategy, then that person has no business in this industry. There's enough unwarranted regulation in this industry without unscrupulous investors actually giving cause.