All Forum Posts by: Brian Van Pelt

@Jeff Efird

. When talking to other bidders, expect trash talk to discourage you from bidding . "Did you see the 4 inch foundation crack under the rug ?"  is one of many i've heard repeated over the years.

. Focus on the auctioneer and not the other bidders. Some bidders bring a partner to create a disturbance to throw other bidders off their game.

. Know your absolute highest price and don't get caught up in the excitement of the auction, when some "veteran" bidders see they are going to lose, they may try to bid up the price to teach the "new" kid a lesson. It can cost you thousands.

. Make sure you have read the terms of the auction thoroughly, nothing like winning an auction and finding out it's only a cash auction and you did not bring enough. 

. Be prepared to loose even if you have won, Many states have a redemption period even after an auction.

Not sure why anyone who properly files their income taxes would have a problem or issue with this.

@Jay Hinrichs
You are def still sharp. We are still on the same page. I think people who are in real estate professionally have ethics drilled into them so much that it's rarely an issue. Most new wholesalers basically don't understand what the assignment clause is and how it allows them to legally wholesale a property. Add to it the age of most of their 'clients' and its a wonder there are not more lawsuits.

@Madison Holbrook
State Tax Assessors rates can be way off - due to last time it was assed , if improvements have been made that assessors are not aware of. Your best bet is to have an agent run comps on the property based on what has closed.

Again BP has calculators where you enter the numbers and it helps you arrive at the recommended offer price.

What you are asking for without numbers is a WAG - Wild *** Guess

@Jay Hinrichs We are saying the same thing, you just said it better.

My concern when approaching any potential Seller over 55 is that they are often ripe for being taken advantage of when it comes to their home by realtors, mortgage refinance, HELOC's , reverse mortgages , and home repairs to name a few.

The wholesale industry is another can of worms when it comes to people being taken advantage of. I've even walked away from a settlement when it was clear the Seller did not have the cognitive ability to make decisions for themselves.

People need to be ethical, you sleep better.

@Santino Lauricella

I would calculate a fair rental rate in for the unit you occupy,(Think of yourself as a tenant)

@Preston Gealy

I would look to partner up with an investor to flip it. You will end up with more money that way.

@Madison Holbrook

You should stop right now. You need to research and learn how to use the BP Calculator. Take the time to use the tools of the trade, even a downloadable spreadsheet will help you calculate where your numbers should be. 

Also keep in mind that if the owner is elderly , he may not be in a state cognitively  to make the best decision for himself. If he is impaired in any way I would stop or at least contact a relative.

With any job interview you have to be able to answer one overriding question. "How can I make money for my employer."

. Step 1 Show up every day.
. Step 2 Make 3 calls to people you don't know and add then to your database.
. Step 3 Learn 1 new thing every day.
. Step 4 Learn to work independently without supervision.
. Step 5 when you feel tired and are ready to quit go to Step 1

LOL

Yes Baltimore is in Maryland

But the city of Baltimore can also be found in 7 places in the United States, plus various places worldwide each in various sizes:

Baltimore - Maryland - America
Baltimore - Vermont - America
Baltimore - Tennessee - America
Baltimore - Ohio - America
Baltimore - North Carolina - America
Baltimore - New York - America
Baltimore - Kentucky - America

Baltimore - Tolima - Colombia
Baltimore - Cundinamarca - Colombia
Baltimore - Casanare - Colombia

Baltimore - Limpopo - South Africa

Baltimore - Cork - Ireland

Baltimore - Gracias a Dios - Honduras

Baltimore - Izabal - Guatemala

baltimore - Middlesbrough - United Kingdom (England)

@Chase Gruening

.  There is no such thing a "bullet proof" legal document. Anyone can be sued at any time for any reason regardless of the document. Baltimore is famous for 'professional renters" suing landlords with great leases.
. When someone brushes you off, whether a lawyer,realtor, or contractor, it's usually because they feel after meeting that what you are asking for is either not worth their time,too vague or too specific or that the liability of taking you on as a client will lead to bigger problems for them in the future.

Start by calling your local title companies and have a meeting with the Lead attorney. They will have access to a Law Library and will be able to download you an Illinois compliant Lease. Boiler Plate leases are more apt tp hold up in court, then ones that have been "crafted".