All Forum Posts by: Brooks Conkle

Now there is plenty of time to get a title search done and check out the property. Yes, it still may get delayed and the starting bid might be too high, but it seems as if this type of investing might become easier.

Anyone sharing this view?

Anyone have an idea of what % of deals are displayed in advance via Auction.com etc.?

@Gil and others - I'll explain how it works in Alabama (I assume on a national level).

1. Section 8 decides what to pay for rent for a particular house based on the area.

2. Each potential tenant has a voucher that will show what amount Section 8 will pay for specific houses (i.e. a 3/2) for that tenant.

3. You are able to rent your house for up to what it's rated for.

4. After the tenant is approved you find out how much of that rent is paid by Section 8 (70%, 90%, 100%). This is based on their income. It's not a bad thing if the tenant pays a larger portion. It means that they have a steady job and will one day completely be out of the program. If they lose that job, Section 8 will pick up the tab until they can get a new job.

Good luck all!

Hey Fellow Mobilian!
Good seeing you recently Russell.
This is a great forum where you can learn some great info and network with some solid folks (and even ones in your own town!)
Talk Soon

Alexander Curtis - This is a great question and takes a little digging on your part. I can give you 2 quick tips though:

1) Find out which zip codes have a high volume of cash transactions on the MLS month after month - look for trends - if you don't have access to the MLS then your first job is to get access or to become friends with someone that does.

2) Back track in the tax records who these buyers are. You will find repeat buyers. Once you find who the players are in your area, keep track of them. This will tell you where they are buying, and if they like multiple areas then you will know it.

These items take Work, but if you're willing to do it then it will pay off. Good luck!

Bryan A. - haven't heard of ZabaSearch, thanks for the tip!

Douglas Peterson - I've used a number of products, but sometimes I forget to try the simplest of measures --- Google, Facebook, Whitepages, etc. --- sounds crazy I know, but I actually have good luck with these.

@Philip Accardo
Fellow agent. Great goal.
I'll give one tip that I use to gain buyers.

-I use hand written bandit signs for my Retail buyers (most folks are used to using them for investors or home sellers).
-I place 5-10 around my listings.
-I make them hand written (higher conversion rate).
-I also have our number with an extension including a recording with the address, house info, etc. - if they want more info, then they leave a message - they will also probably drive past the property.
- I actually prefer the hand written sign in the yard (I place our professional sign in the window). I know that many agents are concerned with the professional looks of their signs - but I'm more concerned with selling the properties.

This has worked for me, as I have sold 3 of my last 7 listings - I believe this to be a pretty high conversion rate in the industry.

If you don't have any listings, you can still modify the message on the sign in order to get your phone to ring.

Good luck!

I wouldn't put up $5k on an 'AS IS' property unless it is $5k that you're ok to lose if you chose not to purchase. It sounds like there are Zero contingencies...

I'm a licensed agent in Mobile, AL and I'm quite certain that only real estate licensees have access to the MLS. Trust me, if I could have had it before I was licensed, I would have :)

Great Answers from these guys!
A few thoughts:
1) It's super tempting to buy vacation place far away and rent out when you're not using it, but not always the smartest.
2) Great idea about keep investing in your own backyard and then use the profits to vacation.
3) Can't stress enough the importance of REIAs.

Michael and Andrew gave great answers.
Will you lose some deals by being completely transparent? Probably.
Is that a bad thing?
No.
But do I also think that you can confuse parties (both sellers and buyers) by explaining too much to them?
Yes.

Best of luck to you Sir!