What's the plan with the property?

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

Hey Jacob, do you plan on expanding the portfolio?

Suggest you get your game plan in place first then go forward once you have the goal in sight.

If those two things are accurate on every deal, you’ll make more money and be able to sell your deals to cash buyers MUCH easier.ALWAYS intend to close and NEVER put anything under contract you don’t already have soldWhen you make an offer on someone’s house who is in a bad or desperate situation, ALWAYS plan to close.

Hey there is someone in the house, maybe I should knock on the door and ask them a few questions...like are they planning to sell the tennis court? 

I was told by another investor that I will run into a seasoning problem, but i don't see how if i don't plan on refinancing.

We just acquired an existing duplex in Fort Lauderdale and planning on tearing it down and build a new duplex instead.

@Olga DaiselI think we are lacking some key details of your plan.

But if you lay out your plan to the owner over the phone, it's very hard to get a "yes" because trust is developed with a face to face meeting.Trust can be established by talking about your past record (as an investor) but also if you have something positive about yourself (profession - real estate agent, nurse, teacher, fireman, doctor - any profession that can give you some added credentials).#4 Owner vs.