All Forum Posts by: Adam Greene

I find it amazing how as soon as I hit post then try to go to sleep how many different ideas come to mind... I should have said..

While I still stand by my first post, I should add a little additional info. I get notifications every time someone uses the word marketing, because I'm trying to learn more about effectively using direct mail and any other form of marketing.

I know how to be friendly and would say most err all my wins have been because someone liked me... My biggest failure was pretty much all me :)

I know deals are made every day using either method. If you direct mail and get lots of leads you can always dump them on another wholesaler in your area and make some extra cash to possibly turn your two to four.

fanny does typically have a 120% 2012 probably updated to 125% profit for 2013 but I'd have to look it up that's pretty had and fast for your profits however if you are doing a fix and flip you can negotiate with them on your sales price. They have the rule there to prevent people from "flipping" think wholesaling for huge profits when the plan is to help people who couldn't otherwise get into a home. If you buy a home for 75k and then drop 25k into the fix and want to sell it fast for say 140k it's still possible but you have to be careful as you are placing your investment under the control of someone else's approval. So conservatively don't go into any Fan or Fred deal unless you can handle potentially carrying the deal for at least 1 year and 1 day. There are always those who will say just do it and no one will notice or care, they are probably correct, but I am not that person. After the one year is up there are no restrictions.

First there are so many "Correct" ways to go about being an investor that I start with the disclaimer that this is just my opinion. If I was looking to pick up about two properties a year, I would focus on meeting people at REIA groups not direct mail, coupled with driving for dollars and getting to know a good agent in my area and letting that person know exactly what I was looking for ie: SFR/Multi specific neighborhoods, price, expected ROI, and cash flow. Then see what comes of it.. I think in your situation you'll find a much better return than direct mail.

Is this house amazing? Just thinking there must be something incredible about the property / deal.

If there isn't room in the numbers to resolve the problem you may have to walk away.

I have gone in and removed all the Knob and Tube from a home, after gutting it myself, to save time and money.. In the end it did, especially since the Electrician was a friend of a friend and cut me a really good deal.. But it sounds like you may be getting into a much bigger project then you are wanting, especially since you won't be there to oversee the project start to finish. However if there is enough equity to make all the repairs and still have 30% it may be worth it... but probably be alot easier to find another house without all the trouble in Memphis.

just my .02

ps. as an afterthought, I also found structural issues, and that we needed to replace all the plumbing once we pulled the plaster and lathe out to get to the electrical. I know this isn't the kind of suggestions you are looking for and I hope someone else can offer you some positive thoughts. Seriously I am sending positive prayers your way,

More and more "buyers" I'm coming in contact with seem to be concerned with having to do "alot of maintenance" ie corner lots have about twice as much mowing and potential tree work..

Then you are exposed to the Crazy Bad driver who suddenly jumps off the road drives across your yard and totals two of your favorite toys parked securely in your drive way. Ok so I don't live on a corner lot just a curve, but atm since I'm now in the market for a new car, I think anything not on a dead end, or a private road sounds less desireable. :)

Seriously though about lazy buyers. Not sure where this is coming from but how hard is it to mow the lawn, or hire a service?

Wow how awesome is the Related Discussions link under my question. Has my question and a great list of answers to my question. I love getting to stroll down well worn paths.

I'm looking at possibly hiring a Real Estate V.A. to off load some of the data mining, research, and database work etc. What are some of the other tasks you offload to your V.A. if you use one? And in general what are the over all impressions of V.A's.. I've already read a number of posts here on BP about VA's and especially appreciated the discussions about protecting your credibility and what a VA is allowed to do on your behalf.

Investing in real estate for at least a portion of ones retirement, is good sense. It is a hard asset, so its value increases with inflation.. So while you have a hopefully cash flowing property, with tenants paying down your debt, and possibly appreciating in value, it is also appreciating because of inflation. Then add the tax benefits, and depreciation and it seems a no brainer. Additionally almost all real estate purchases you put down an avg of 20% but your avg 6% return is calculated off of the entire value of the home. So your returns are typically much higher.. Also the risk is lower with real estate and I have more control in it's outcome.

I personally invest a bit in stock, and a bit into a mutual fund.. my primary investments are into myself, my wife and real estate..

Just my .02