BiggerPockets

Good to see you back on the site Brian! A lot of the riff-raff isn't hanging around anymore ;-)

08:07PM on July 20, 2011 · Bryan Hancock

Thanks for the awesome advice! I really enjoyed reading it, and i'm glad that you posted it in your blog (I feel special* :) anyway, thank you for taking the time to write back :D

12:20PM on October 14, 2008 · Jamie L.

Hi Josh: you have the COOLEST REI SITE in cyberspace! People need to know when it is raining, and dark and scary, then you need to go out and get some private money! REIs should not be reading Forbes, Business Week and CNN. They should be reading BiggerPockets! My blog www.REISkills.TypePad.com has more stuff on it than most, but I am really busy with 2 kids and running my businesses. REI is really complicated fro most people, and overwhelming for most. Houses (IMHO), to have the most attractive qualities are: * near high paying employers (get high rent and pay more fro Rent to Own) * near good schools (people will pay more for their housing for highly regarded education) * As close to being under $200K as possible (once you are over that number, Rent to Value Ratio is not good.) Example: $100K house, $900 a month x 12 = 10800, div by 100K = .108 = 10.80 % $500K house, $2200 a month x 12 =26,400, div by 500K = .0528 = 5.28 % Which has a better yeild? And expensive houses are much more expensive to maintain. So you need cash reserves. ---------------------------------------------------------------- Techniques to Use in this BAD Market: * Cooperative Assignment (Lease Option and Assign the Deal for a fee, Land Contract Purchase and Assign the Deal) * Equity Split Lease Purchase Arrangements for Expensive Homes * Sub2 and Land Trusts * Land Contracts (long term) * Private Money All Cash Purchase at 30% discount or more * Sell - (Owner Finance) the Building, Keep the Land Techniques to Avoid * Retailing for Cash Buyer - They cant get financing - Do Lease Options for 36 months * Lease Purchase without Safeguards (Sandwiches) * Wholesaling - Option Flips to Cash Buyers - few are around * Wholesaling - Double Closes to Cash Buyers (ditto) --------------------------------------------------------------- I try to get the best posts on http://www.google.com/reader/shared/11832782590578277927 New and Experienced REIs can get sucked in with all the information and attention from the media. All you need is: 1. Get motivated sellers and talk to them - offer them 3 solutions 2. Get 100s of tenant buyers (most dont have the higher income so you need alot to choose from) 3. RE: Private Money Get either (a) 1 Sugar Daddy to place $500K or more CD in a Commercial Bank for Collateral or (b) 10 Private Lenders in state (stay in state, dont go out of state) to fund your deals. DO NOT use these loans to fund your daily Personal and Business Expenses. AND DONT LISTEN TO THE MEDIA! GO TO WORK! Keep up the great work, Josh. All the best, Brian Gibbons www.REISkills.TypePad.com Team@REISkills.com

08:25AM on September 30, 2008 · Brian Gibbons

I just wanted to say hey, Brian. Thanks for your recent involvement on the site and the great advice you've been sharing. I hope you'll get even more involved! Best, Josh

02:01AM on September 28, 2008 · Joshua Dorkin