All Forum Posts by: Account Closed

I'm going to my first tax sale next week. I could use some pointers from any experienced tax lien investors. What's the one or two things you wish you knew at your first tax lien sale? Thanks in advance

The American Association of Private Lenders website directory should give you a list of lenders in your area who will provide financing for buy and hold rental properties.

The # 1 for criteria for evaluating a real estate regardless of the source is Return On Investment. It always has been and always will be. 

Rich Dad Education is a seminar company that has a license agreement with Robert Kyosaki. It is expensive and they've used some questionable sales tactics, which you can read all about on the web. I wouldn't recommend their coaching. That's more motivational oriented. Their mentoring program can produce a return IF you get the right one. On a positive note, they're Creative Finance and Land Development course has taught me about the numbers of real estate than an MBA.

16x16 tile from Home Depot is best alternative to carpet.

We sometimes buy bare cabinets and paint them gray (actually School House slate is the Behr paint name). They really make the kitchen stand out from the other home, but you're not going off the wall. You can check out the pictures @ www.smcchomes.com. 

We've tried a similar rental model as well. We've bought four SFR for an average of $17.5K each and done $40K + in renovations each. Our design criteria was to have zero major repairs for twenty years. All are paid for, no debt, and I'll pass them on to my kids. We now have the nicest houses in the neighborhood (a C- area), so far we're keeping them full and getting paid on time.

Definitely pre-approval, whether through a bank or a private lender. You'll have more creditability with realtors and wholesalers if they know up front the color of your money. Like the say money talks and ...

We just started bringing some single family homes into our portfolio. We fully renovated each house (roofs, HVAC etc.). What % of the monthly income should we set aside as a reserve against future capital repairs?