All Forum Posts by: Leigh C

Wishing you were in FL 

What type of investing are you looking to do?

@Gabriel De Almeida    We probably had the same idea at the same time, but i type 120 WPM so i got it on here faster :)    So you get half credit for that one...lol

Wholesalers typically suck the profit out of anything worth buying.     However, they aren't any better/worse than realtors typically.

D areas, probably wouldn't start there if you don't have experience.    It's more work, more hassle and you have to have thicker skin.     However, it's typically better return on your investment.        Read up on how to make houses bullet proof.     In the areas you are talking about, you may need it.

Make an agreement for part of the net profit and have him hand over full control of putting the house back together to you.      Invest if you desire and write down clear expectations too.   

Clear accounting maintains friendships...

I'm sure you can figure out a way to profit from this particular asset...but so many other tactics will yield you more on the "house next door".       

I've seen people make a living kicking dead horses, to my eyes it's not worth their time however.      

Tell the guy to save your number if he changes his mind, and check back with him in a few months.....The market will educate him IF HE REALLY WANTS TO SELL.

I'll sell you all my real estate for 25% over it's value too.   As will his neighbors, and anyone else that you ask on this forum.     Why haven't you moved on?

I'd sell and just lend the money out. If you believe the market is "going to crash" than why keep any real estate? Lend at really really attractive LTV rates

25-30k in renovations.   What would a contractor charge?     Looks like a sweet deal, but don't forget to pay yourself for contracting work done when you crunch these numbers.        

Cops wont do anything....civil matter.     TBH, wait for the wire to clear his bank and deal with everything on monday.    Who's right?   Who's wrong?     Who cares, if you wanted to start any sort of eviction or whatever it will take far longer than just waiting for the wire to clear.

Learning curve, you left closing without keys.     On the plus side, a very cheap lesson I hope for you.