All Forum Posts by: Todd Rizzardi

On Pg. 262 of Brandon's book "The Book on Rental Property Investing" he talks about presenting your deal to a private money lender to make sure all the numbers are laid out clearly.

Is this the same thing as an Offering Memorandum (OM) or has anyone created a .doc or .PPT for this purpose?

@Levi T. . Excellent idea. Thanks so much!! 

@Omar Ruiz thanks Omar that's a good tip. I'm just trying to practice with the calculator at this point but I want to use real numbers as much as possible. 

If There's a website that has city averages for electricity water gas et that would be ideal. 

I was just practicing with the BP calculator on a real property that is for sale -- 12 units.

This market is about 50 miles away from me so any suggestions on how I can make fair estimations of all the expenses to plug into the calculator?

Hey Eddie. I like your ambition.  Just curious, how are you locating properties to wholesale? Strictly through direct mail? If so where are you getting a list from and what are you saying in the marketing copy?

@Rick H. haha That's definitely true, and I completely agree. That's why I asked the question about wholesaling...Is that my first move? ... Buy a 2nd house? Sell my house and try to parlay the money into something else? .. Find someone to go in on a Flip w/me? I'm still lip syncing and doin the moonwalk over here until I find my own show. lol

I work at LoopNet so I know a thing or two. First, it is indeed the largest commercial RE marketplace online so you never know what is going to pop up. A lot of my clients are Principles and they buy and sell a lot of property using LoopNet all the time. 

Your best best is to setup a search and save your criteria so you get the email alerts of anything that matches your criteria. 

@Steve S. Your are right in some regards to that point. Typically when agents or brokers get a listing they shop it around to their own private network of personal investors. If those investors all pass on it then it typically ends up on LoopNet and CoStar so they can market it to the rest of the world. But if LoopNet didnt work, then no one would be posting, right? So it all depends on your own personal investing criteria, really. 

And from the listing agents perspective, LN is key to show your seller that you are generating broad exposure to find a buyer.

@Lee Smith  Yes, Reputation is everything. The last BP podcast on "modeling" the guest speaker talks about this, so that is a  very good point to remember. I will check out Vena Jones, thanks for the tips! 

@Lina Sitto I appreciate the detailed response, you're experience is invaluable. I just mentioned this to a buddy of mine and he said "If its on the MLS," then that's when you need a license to make any kind of offer or agreement to secure the property. I have not verified, but that sounds logical. I'm reading about a book every two weeks right now so I will check out the Millionaire Mind. I might just PM you sometime. My Aunt lives in the UP. and I was just joking with her that I should move up there and start a real estate business. lol.

@Rick H. That makes a lot of sense. That leads me to believe all the more I need to connect with someone local who knows the lay of the land. Thanks for the insight.

hey Randy thanks for the offer and posting. I'm just learning how to analyze deals more efficiently but I haven't done anything yet. Just a quick question. Do I need a big lump some of cash on hand to start making deals? I mean is it necessary to have a down payment to secure the property first? thanks so much. 

AND do I have to put a typical down payment amount of cash to secure the property? Finally, can anyone recommend a good book on this topic? Thank you kindly.