All Forum Posts by: Tanner Nicholas

Their lawyer is filling them with ideas that they can reverse it. Apparently he hasn't been around long or he would have stopped it! 😉

I started with a somewhat low monetary cash offer with an offer to give them till the end of the year. Which helps us both I'm sure with the holidays near. I tweaked an agreement Tim had sent me to fit my situation. Setting it up so they have to pay a refundable "rent" payment on November 15th and December 15th that hopefully will allow me to do an unlawful detainer if they fail to pay. Sending to their lawyer in the morning. Hopefully we can work it out.

I don't see that anyone else from Birmingham has offered up so I would be glad to grab some lunch or something one day. I am an RE agent and I am also doing fix and flips. Shoot me a message if you set a date to be in Birmingham.

Hey Tim. i agree. I am not in a hurry to turn it around and relist with the holidays being near the market has slowed down some. I am hoping giving them some time + a lesser monetary value will help them work with me. I would love to see what you use for the banks you have worked with before. Im sending you a message now with my email!

Hey guys! I just purchased my first property in the Birmingham, Al area out of foreclosure at the courthouse steps. It has been an interesting couple of days. Definitely a new experience! My biggest question is what is a good offer to start with on cash for keys? Do you do a percentage of the price or start with a small flat fee? The property I purchased is in amazing shape outside. It was built in 1945 but has been renovated twice. The first time it was renovated was 1999 and again in 2013/2014. I have set a budget of 25,000 including renovation, lawyers fees, and holding expenses. I know that an ejectment can cost as much as $2,500 so is it worth it to go up to that to prevent property damage, removal of appliances, etc.? Also if you have a great lawyer that you want to suggest for ejectments I would love to speak with them. I have already sent notice to vacate(mail and nail).

Can you finance a purchase without dumping your current home first? That could be a factor too. Are you looking to buy something that is distressed? If so are you looking for something that you are able to move in or needs rehab? I would dump it and move to something better. Don't know your market but the cash flow on renting your current home is non-existent if not negative.

Terrible idea. I would never let an investor buy a rental that doesn't already have positive equity.... much less 30k negative equity.

Brett Johnson Just like every business it is all about having a plan. Making contacts every week is huge(the biggest part of it). Another important part is actually making those contacts work for you. I also am partial to KW also. A large part of making your contacts work for you is having a good CRM to keep up with your database.

Secured credit cards seem to be the best way to build credit fast when you have no actual credit(not bad credit)!

I would love to help you if you are looking for investments in the Birmingham,Alabama area. I see you listed some areas in the Southeast region. I don't do any property management but have plenty of people that can help you on that end. My personal advice is to seek out young knowledgeable agents with a work ethic. Teams tend to have younger agents who would be highly motivated to seek out investments for you because your ability to close quick. I personally love rental investment deals because they tend to be less stressful and time-consuming.