All Forum Posts by: Brian J Peterson

Pardon me @Christos Philippou, I don't mean to speak on subjects that are "difficult" for me.. You're clearly the leading expert in all things Real Estate in the state of DE, more specifically as you mentioned Northern Delaware, so I'll take your word for it! I'm 100% sure there aren't any parents out there in N DE that care about proximity to the 100 private schools within a "15 minute drive" as you pointed out so location has no bearing on their decision to purchase/rent in certain areas.. Does proximity to shopping and entertainment not matter in your market either, or is that at least somewhat important? Is everything accessible by driving a few minutes, so again location doesn't really matter?? If so, must be nice to invest there where you can just pick up any property in any location and everything is all good!!

@William Travis Wall if you're ever interested in a Pro Membership you'll get access to the Webinar Replay Room where you can watch/listen to all of them! The Podcasts are AMAZING @Brad M., I listen to them all the time and they're literally packed with so much great info!! Being in the very beginning stages of REI Education, BP has been worth its weight in gold, I've learned much much more than I ever expected in such a short time..

@William Travis Wall that's awesome! Keep plugging away and you'll be figuring out more stuff as you progress! KEEP READING!!

@Pete Shelton I could be wrong, but I don't believe you're allowed to live in the property you "exchange".. as long it's a "" property you should be good.. You can find all the info you need on the IRS link above.. I think this  is a little easier to read and understand for myself at least, the IRS tends to over complicate their wording on EVERYTHING..

Best of Luck!! 

@Christos Philippou, for an investment property you're absolutely right, schools in the area might not be a major concern when deciding on pulling the trigger on an investment.. However, if you plan on staying in any market for an extended period of time I'm sure you're going to be looking at possibly getting some rentals/buy & hold in your portfolio.. In that case it most certainly is very important to know the schools in the area and which areas have the best public and private systems in place, as a parent I know myself personally I'd be very interested in that data..

This info isn't neighborhood specific to that area, however, it does contain a lot of really good data.. You can also compare that zip code to a neighboring zip and get the side by side comparison.. The school data is also excellent info, and if you can get more specific with an address you can see exactly what schools the kids in your properties would be attending and get all their test score data and a lot of useful info for parents deciding on a location with "good schools".. Check these links out:

Wilmington, DE data  &  Schools in Wilmington

Best of Luck @Zachary Foust!!

If reading over all this awesome info on BP doesn't hold your attention then I'd have to suggest considering other avenues to generate your "ticket to great wealth" as you put it.. I have zero real world REI experience thus far but manage to find myself on BP almost daily reading over Blogs and Forum Posts, looking over the deals in the Marketplace, evaluating deals I find online via BP Calculators, etc.. I go to sleep thinking about what I'll do research on the following day and get excited because there's sooooooo much great knowledge out there and here on BP that i need to absorb!

Best of Luck @William Travis Wall!!

OK, so why haven't you contacted those companies for pricing quotes instead of asking a bunch of people who don't know much about that industry?? (with the exception of @Jim Adrian who's clearly the expert on this post) I'm just thinking the money involved with that type of set-up would eat away at any potential profit down the line, regardless of how much you get discounted now.. Obviously there's good reason they've reduced the price multiple times already, NOBODY wants to buy that property!! Either way, whatever you decide to do, good luck and stay safe!! 

LOL (with all due respect), are you seriously considering moving into a "war-zone" as you put it, just so you can make some money in 5+ years?? In my opinion, no amount of money or POTENTIAL cash flow is worth a chance at being killed in your sleep.. Also, bullet proofing a house? Are you serious, do you really think there are companies out there doing such a thing, and that there would be enough people wanting their services in their limited general area they work to be profitable?? I think there are ways to make your walls more bullet resistant, but I promise you there's no such thing as a bullet-proof (no bullets can pass) house.. Even armored car companies can't guarantee the structure to remain strong and intact after certain caliber bullets are fired multiple times (like an assault rifle) at the same spot.. Don't you think that in 5+ years you could generate the same amount of POTENTIAL capital with other deals? I think you can easily do it, and who's to say that after this "gentrification" comes full circle that there will be enough people out there to want to move there knowing about it's violent past, regardless of how much improvement has happened in the area? I know myself personally, I'm staying out of war-zones and also staying out of areas that were once war zones, not worth the risk.. Good luck and I wish you the best!  

Are you suggesting getting a "fake" POF letter online? I hope I misunderstood that question "Is there a website I can go to to get one..." I can only imagine having a fake letter to show a realtor could get you in the door to view properties if in fact they want that to make sure your serious about purchasing.. Once you find the property then what? How do you move forward without really having those funds available to close the deal??