All Forum Posts by: Taylor Shields

@JASON DALMAU Sounds good, email sent!

@Andrew Cordle Check this out

I am an acquisitions specialist (Wholesaler) who is looking for top notch lenders to provide my to my buyers. All my deals are packaged with a lender ready to go.

I am looking for any/all Commercial lenders in Oregon. 

Specifically - I am looking for commercial lenders that would be interested in financing new construction - 6 unit condo building. This is a potential project that I have under contract in SE Portland, Purchase price is $260,000 . Its a high density lot, zoned RH, 5,000 SqFt. For further details message me.

A similar 6 unit condo project was completed in 2013 a few blocks from my subject property. 

Here are unit sales:

1. Unit A: $229,900
2. Unit B: $229,900
3. Unit C: $225,900
4. Unit D: $225,000
5. Unit E: $247,000
6. Unit F: $245,000
7. Total: 1,402,700

Here is the potential: 

This is a great thread @Jay Hinrichs 

 Where can I listen to the podcast you mentioned?

Also, Does anyone have any great resources on this subject?

You have to think in terms of,  "What are the expectations of a world class rehabber/investor". You need to understand exactly what the rehabbers in your area, expect and want. To do that you need to understand what the retail buyers want/go crazy over. Work backwards on your analysis. Talk to every single rehabber you can and find out their needs and wants. 

I like how you guys did the accents around the window in the shower, great touch!

Jay is right about tenant rights in Oregon. Tenants practically have more rights than the owner in Oregon. 

@Derek Moya 

To answer your question as directly as possible....NO you will not be kicked out the day after action. No matter who buys it, a private party or the bank. They cannot lock you out of the property the day after the auction. Even if you were a squatter living there illegally they wouldn't be able to do that.  

The WORST POSSIBLE CASE if you don't cooperate with the new owner is that they would have to evict you and that would take at lease one month. That's the worst case.

The MUCH MORE PROBABLE case is that the new owner will be very reasonable with you because you seem like a great tenant who just got caught in a bad situation. If the bank takes control of the property then you have even less to worry about and you will probably get to stay there rent free for a while and they might even pay you to move out. Just to confirm what Jay said again......The chances of a retail buyer purchasing this property are about .0000000000001%.

Just go record your lease at the courthouse like @Jay Hinrichs said and then sit back and relax until you hear from whoever purchased the property (either the bank or a 3rd party). I would even go to the auction and see who gets it, if a 3rd party investor buys it you can just go introduce yourself!!

Check out  http://markjkohler.com/ and http://www.entrepreneur.com/video/231928

(I have no affiliation)

If your CPA isn't intimately familiar with this I would find one that is. 

@Todd Runstein 

The potential you have with your tech experience to further the field of REI is HUGE! I've thought about this quite a bit. Come to the RareBird Investor Network like Mike said! I will be there as well.

@Mike Nuss 

Sound like what your working on is exciting! Looking forward to this evening

My initial thought was to just have something like a bandit sign type message with a number on the back window, that's it. This could be turned into an effective branding tool as well. Initially I was thinking back window only. Something simple and certainly as cost effective as possible. Something you could get on ten-twenty plus vehicles, maybe more and still be reasonable.

@Dev Horn 

Thanks for the input! No worries about the criticism, It's welcome=) I totally see what you mean about people being hesitant to put stuff like this on their car. That's basically what led me to think of having other people do it for me. Personally I wouldn't want to be driving around with a car that says "we buy houses" or "sell your house now"...ect all over it. Not to mention, There could be some homeowners that might not appreciate you showing up at their house and all their neighbors seeing your vehicle and knowing they might be having some sort of hardship.

@Andrew Cordle 

Sounds like you are going all in with something like a total wrap right? That would be awesome if you put something like this to work! Do you think that paying monthly is better than doing it on a deal by deal basis? There would definitely need to be some type of up front incentive. There's all sorts of ways you could structure the compensation, Does anyone have further ideas on this?

I WOULD use the ready, fire, aim method. Here's why: Its no doubt that if you pick 1 or 2 methods you will see good success with increased focus. However, I would pick 4,5, maybe 6 methods to rigorously test for 6 months to isolate the critical few that generate the most deals. The 20% that leads to 80% of profits. Now I can focus on the 1 or 2 methods that I KNOW are profit inducing for the next 6 months, instead of just guessing.

These are some great marketing techniques! @Andrew Cordle   I can think of only one thing that I might try with a 3k budget that you didn't already mention in your budget. Just trying to think out of the box.

I would consider doing something like vinyl car decals (but NOT on my own car). I would advertise craigslist and other sources for people that would be willing to put it on their cars. If a deal comes off of their car I would pay them maybe 5% of profits or something to that effect. I would just have the number on the car go to a Google voice and then have a spreadsheet of vehicle descriptions so I know what car the deal came from. With just 10 to 20 of those driving around, It would seem to me like a great lead source and would certainly have more longevity than bandit signs. I would love to hear criticisms of this idea. Good or bad?