All Forum Posts by: Zoran Stanoev

Welcome @Patryk Swietek! Have you made your way up to Chicago yet?  If you have, you should come to the meetup on the 17th.  I think it's the official/unofficial one listed in the BP events page for Chicago.  It's run by Brie and is networking with no sales pitches allowed.  She also has a brokerage that specializes in finding house hacks for people.  I think it'd be a great place to get started up here.  Let me know if you need more info.  Welcome and good luck.

I think being able to use/offer owner financing is a great tool to have in your tool belt, but I think specifically trying to find a deal to use it for might be the wrong way to go about things.  If you meet an owner and start talking about seller financing this and seller financing that, you might not be listening to the seller and the problem that they need solved.  The analogy I'd give is walking around with a philips head screw driver looking for things to screw in versus walking around with a tool belt and first asking what kind of problem someone has and then picking the most appropriate tool.  Good luck

@Zach Medina how close were you to qualifying? If you’re close, you could try having the owner carry just the amount that you’re short. Do you know anyone that you could partner with? Or maybe, this just isn’t a deal that works. Sometimes, theyre just not deals.

@Jared McNeel

I would tend to stay away from trying to explain it in a pamphlet. You don’t know their level of knowledge or how they like to hear things explained. I think something simple like i buy houses, cash or terms, and then your contact info and if you have it, your website. That way they can call you (and it becomes a better lead) and you can chat them up and then explain it. If they never ask about it, you can save the trouble. But if they never ask but you learn that it’s something that would be a great solution, you can bring it up.

@John Cornelius there are meal prep services used by bodybuilders and other athletes that deliver pre-packaged meals. I’m guessing it’d be more cost effective than a personal chef.

@Bill Quigley I’m guessing that plaintiffs response to the motion was to ask for leave to file an amended complaint (rather than filing a response) if the order doesn’t state that the motion to dismiss was granted, then the action is still active.

I’d ask your attorney when the next court date is. At that time, the judge will determine what to do next. Every judge is different and every venue is different. Some are loose with deadlines. Good luck. Smart move hiring an attorney.

@Greg Dickerson Illinois basically included the definition of wholesaling as a broker activity. Therefore, if you are not a licensed broker and wholesale more than 1 property per 12 months, you are acting as an unlicensed broker. The fine is up to $25,000

@Jeffrey Zientara

No one is going to sue you for $2,000. It’d be a waste of time and money.

@Jared McNeel

From everyone I’ve heard from, door knocking has a great conversion rate. I think it takes a little moxie to do it and thick skin. I definitely think you should have something to leave, both whether they answer the door and if they don’t. However, i wouldn’t jump into explaining creative financing. You should come from a place of service, look to solve a problem they have. If you start telling them about creative financing, you’re trying to impose something on them that they may not even need. Let them speak and learn more about what they’ve got going on and start a conversation.

@Andrew Smith did you buy turnkey properties? are you familiar with the brrrr strategy? it lets you force appreciation so that you can do a cash-out refi and keep rolling over the same down payment money.  David Greene (podcast co-host) wrote the book on it.  It's excellent.