All Forum Posts by: Joe Butcher

By Uptown I imagine you are speaking of Lemmon/Cole, West Village, Knox Street etc? I never thought of that as a duplex type neighborhood. Someone correct me if I'm wrong but it's mostly condo/townhome type buildings.

No, but I would be surprised if it contained any information that you couldn't find here for free.

All kinds of people have not so great credit. I'm looking for evictions and felonies.

@Erik Drentlaw good question. The problem with conventional financing is finding a bank to loan on a property under 50K. I got it for 39.5K

Hard money were the only ones who would touch it, knowing the ARV vs purchase price. Once rehabbed it was worth 94K, hence the refi into conventional. Ta da!!

@Mike M. yeah I love me some Puck Daddy!

Zig Ziglar once said "failure is an event....not a person"

You've got to lose a deal or two to know what NOT to do.

Another thing I might add is that some sellers may try and disguise their motivation, that is to say they are close to motivation, but may be in denial about the distress situation. Develop a little rapport over the phone and you may be the guy they think of when they have their "ok, I need to get rid of this place" moment.

Dont dismiss the tire kickers just yet. First off it's good practice. Secondly, they may lead to a referral. Thirdly (thirdly? is that a word?) They may become motivated sellers in the future.

Jerry Puckett discusses this in a blog post here:

http://www.biggerpockets.com/blogs/1378/blog_posts/35903-the-4-most-common-objections-and-how-to-handle-them

Don't be nervous...be excited. This is fun.

You've got to jump in the pool if you want to learn how to swim.

@Erik Drentlaw my criteria was only with property type, i.e. 3 bedroom 2 bath 2 car garage, etc.

As far as criteria in relation to numbers, I just figured if I could cash flow more than $150 bucks a month, I'd be happy.

Hey Kelly! Hope to see you at one of the local REIAs.