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Dory Peters
Real Estate Investor |
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Real Estate Experience
Basically, REI is in the blood. My parents own multiple properties, and my maternal grandfather also has owned multiple properties for longer than I've been alive. I knew about easements, assessments, and evictions, before I had even had my first kiss. However, I spent a few years avoiding REI. I didn't want anything to do with it, because I learned about the negatives before I learned about the benefits.
My father even forced me to listen to some Carlton Sheets cassettes while bringing me home for Spring Break (early 1990s)--and drove me around to see about 15 properties. That's probably another reason I began to resent REI for a while.
Several years later (2002), I got reintroduced to REI via Robert Allen's "Multiple Streams of Income". Tax liens appealed most to me, because it was a way to benefit from REI without doing repairs, yard work, plunging toilets at night, tracking down a tenant to collect late rent, and all of the other property management headaches. It's completely hands off, and that was just what the doctor ordered for me. I already had enough experience with active property management to know I that I didn't--and still don't--want to do that anymore. In my humble opinion, I'd rather pay the extra 5%-10% and keep my sanity, than to save that money and lose my mind. :)
My father by accident/incident purchased a mix-use property (a duplex with a single-box commercial front) as his second acquisition, and that was my introduction to commercial. Connecting the dots, I knew that I ultimately wanted to get into commercial--partly because I never saw any other commercial owners go make rounds to collect rent (as I did with my father and grandfather). So, I figured they had to earn enough to pay someone else to do it for them. :)
Anyway, flash forward a few more years, and now I'm more gung ho about REI--especially commercial--than my parents and grandfather.
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Mr_CashReal Estate Investor |
Richard W.Real Estate Investor |
Darryl D.Commercial Real Estate Broker |
Joshua D.BiggerPockets Founder |
Todd H.Commercial Lender |
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 Single Family Rental (SFR) Landlords (86 members) |
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Comments (1)
Dory- I rarely use flex options because in most of the residential transactions I use the MLS to market the properties and just do not need it to be successful. Also, in my state, flex options are viewed by the department of real estate as a pseudo listing contract when the assignment is improperly used. So, in my opinion, since there could be some legal considerations, using a flex option is not all that flexible. Flex options, in my opinion, work better for commercial properties which are less marketable, like undeveloped land, mobile parks, and other commercial interests where securing a buyer can be more difficult. So, to answer your question more directly, no I was not referring to flex options in the posting for OH specifically, but could very well be used in this scenario in my opinion. Scott