All Forum Posts by: Seth Rouch

@Gary Williams

You generally get what you pay for. I would recommend (if wanting to save a few bucks) go through one of those two online options. Make it fit what you need it to and then maybe pay a lawyers hourly rate to look it over more thoroughly. You may even get them to do part of that in a free consultation if they’re honest people. Best of luck!

There a local Denver investor/wholesaler, not myself, using this strategy to get properties under contract. My wife, real estate agent, noticed that a property she had listed was getting low offers. She’s usually spot on with her comps as we also flip and wholesale etc, also it’s in her client’s best interest. However when viewing these “offers” she notices they came from 3-4 different agents but were in a trust signed by the same investor. An investor I had used once (never again) in the past. These offers all came in $20k under asking, then a few days later by another agent $30k under asking and then the very next day by yet another agent for $40k under asking.

My question to you, BP community- Is this a scare tactic, given the current situation with COVID-19 or is this an investing strategy?

I believe it should be illegal, if it’s not already and I’m just unaware, but especially believe it takes advantage of people in an already fear-filled situation. Your thoughts?

And remember - Please try to keep things positive and not attacking one another. Thanks

@Gary L Wallman

You keep the buildings and the loans that comes with it, but I keep everything that the tenants pay forever ; )  yes I recognize that the building is also an asset, but an empty  and non performing building is not going to attract a great price, this lowering its value. This is why I state the tenant is the often forgotten/overlooked asset. 

Great suggestions here. Not sure why some go right to bashing though. Personally it comes down to numbers and a balance of my beliefs in humanity. No one knows what is going to happen. Is it better to go through an eviction process which will involve court costs, lost rents, as well as another make ready expense or is it better to trust that good tenants were placed in the first place and reach out to them. For me I reached out as well. It has had a huge pay off. Tenants who were going to leave are asking to stay, some at a slightly reduced rate, but that’s still way cheaper to reduce rent then to have a month of turn over, make ready costs, and worse-eviction because I wanted stick to getting top dollar for my units. The building is not your asset. THE TENANT IS YOU ASSET. I also tend to put myself in their shoes while I weigh in what my business needs and especially since this is not normal circumstances. I believe there is a point where our humanity must win over our monetary goals, and if this doesn’t qualify, then where’s your line?

@Joe Liu This is why I stopped doing any buy and holds in Colorado and started doing them in Kansas City, MO. It’s been interesting navigating out of state investing but completely doable and much better for cash flow for me anyway. That being said, there are still deals out there, but they’re are far fewer than even a few years ago.

@Mark Miles I would say if you have to ask “is my agent in my side or not” then you have your answer already. Find a good agent through solid investor relationships.

@Tim Addai I would require it to be ETF. This has been a life saver for me. There are many options So pick one you like. The $1-$2 fee shouldn’t hurt too much ;)

@Bo A Vanecko

Could be interesting. Just did an adventure of Air BnB in KCMO as an experiment to see if it was worth it. Lots of time commitment and your income is subjected to reviews of people etc.

Smaller mountain towns are also putting a cap on the number of vrbo/Airbnb’s they allow. This to me also means that they could say “none allowed” at some point and then you’re either renting long term or it’s an expensive vacant place to own. :) though I do love Winter Park!

@Kerry Baird

I’m not sure why I didn’t see this before now. Thanks for that amazing list!

@Luis Bermudez

Here’s a short list I’ve compiled, and ready many of, that are suggested favorites from interviews on BP podcasts.

The millionaire next door

Rich Dad Poor Dad

Richest Man in Babylon

Scale

The ONE thing

Traction:get a grip on your business

Rocket Fuel

What every real estate investor needs to know about cash flow... and 36 other key financial measures

ABCs of real estate investing: the secrets to finding hidden profits most investors miss

How I turned $1000 into $5million in real estate in my spare time

Building wealth one house at a time

The millionaire teal estate investor

Landlording on auto pilot

How to manage residential property for maximum cash flow and resale

Hope this helps. Also there are many books here on BP that I didn’t list as I assume you’ve looked into those already. - Best of Luck!