All Forum Posts by: Adrien C.

@David Richter

so you want to put a listed property under contract and try to sell that contract to an investor? You can try but you'll need POF if you want that offer accepted plus you'll have to put down EM. And often times you can't market the property, especially if occupied, until after closing. Then you have to mark it up to resell and make a profit. That's not a winning strategy.

The best value you bring to an investor is finding off market properties for them. 

thanks for clarifying. I drive and find the same situation. I have a letter template so it's very easy to get a letter out. I mail everyone a letter regardless of occupancy. My thoughts are that its a waste of time doing too much research on a property before they even contact me. I have about a 10% response rate. Some are owner occupants who don't want to sell. Some want to. It's the same with absentee owners. Mail that is returned I first cross reference with county clerk to see if they are in foreclosure. If not, I start digging. Google name to see if died. If so- track down kids. Use skip trace to track down the rest. I do the same w the foreclosures. I'll go back to any non respondents about a month later to verify property. You'll find some are now listed, some are now being worked on, and some you thought vacant actually occupied. I talk to neighbors and find out anything about property and past owners and even get referrals to other vacant houses that are being maintains still. It's a lot of work tracking down the vacant owners but it's a goldmine en you find them. Oh- I'll try to find them of Facebook and send a message. Hope this helps. 

I don't know your area so I'm not evaluating the deal based on anything but numbers. 

The 1% or 2% rule is too generic to apply in all markets and isn't even a good indicator of anything. Even if you get 2% of rents, you could negative cash-flow if expenses and taxes and loan costs are too high. As the price of the home increases, getting .75-1% is still a solid monthly CF. The investors I work with are looking for either a specific annual ROI or a specific monthly CF (like $200-300). So if the rents are high enough to reach those goals, it doesn't really matter what % of purchase price it is.

@Larry Turowski Not sure where your assessment of Indiana is coming from but in the hour radius around where I live (which includes a population of over 1M) the appreciation rates are at national averages or higher in many areas. Sure there are some specific towns in the C/B- range that aren't appreciating much but the A/B areas have had great appreciating over the past 3-5 years. 

I'm not tracking what you're trying to do. The post to me isn't very clear. Can you restate what your objective is and I'll better be able to assist?

Try ENG out there in Valpo

send me a private message and I can give you a few folks

I put a max number of 2 people per legal bedroom regardless of the size of my property. 

@Bill Gulley  As I was reading through Charles' post, I was anticipating a response to his comment from you. I don't know Charles but it definitely sounded like it was straight through the mouth of a guru. He makes wholesaling sound so easy and appealing. Little effort and big bucks. I find it to be the complete opposite- hard work and decent bucks but not enough to buy a vacation home in the Ozarks. 

@Tim Holmes the mills and BP are operating at a faction of what they were 30yrs ago. I'm south in Dyer and never notice a small when I go north to Hammond or Whiting. Even up at the beaches on Lake Michigan it smells normal. Probably all the EPA regs they have to follow now. 

Do you have any investments out here still?