All Forum Posts by: Dwight W.

Hey Neil! Welcome :) I'm looking for multi-family units in the Orlando area too. If you come across a deal that doesn't meet your criteria please run it by me! I'll do the same for you, as well. I'm looking for residential duplexes, triplexes, and quads with full or partial occupancy or small apartments. The condition I "prefer" is light rehab but no more than moderate. I'm new to the rodeo but just upgraded to PRO :) With PRO you can take a look at the "Market Place" tab and you can use the filters to specify what you're looking for too.

Hi Chris! Can you add me to your list? [email protected]. Looking for multi-family, primarily, or anything in and around Orlando, Florida.

Thanks

 Good idea about not mentioning how he acquired the property. I'll go down the list of numbers I have for him and give him a call on Monday then. 

I'm in the same boat! I thought I'd chime in, instead of creating a new thread. I'm looking to do my first deal and found an empty house where the owner had died last year and left it to his son. Upon searching public records and using skip tracing software I found the information I needed but what is the best way to reach out to someone in this situation? Probate has already been cleared as of this month. Should I contact him directly or via direct mail with a drip campaign? What would be the appropriate wording in my approach? I don't want to come off as a vulture but I do want to show sincerity in extending my services in support of their loss.

Thanks,

Dwight

Hi Tyisha!

I finished the course but I haven't taken the test yet. I had gotten some conflicting information about the continuing education requirements and wanted to do some more research before I took the test. I helped a family member complete the course and receive their certification! The information I received from the training was very useful, though. I will probably go back and get certified; the family member that just got certified would like to partner up with me and start our own real estate brokerage in a few years. I am a few steps closer to getting my first multi-family unit. I found a few investors through my local REI club meetings, CFRI, and started co-brokering with them. I post their properties on my Facebook page and advertise them to individuals and real estate investment groups for a commission. I will more than likely get my investment properties through one of the folks I advertise for.

  Good luck with your endeavors!

$2.99? I might have to switch! Thanks :)

Hi! You're welcome. I'm just getting started as a wholesaler in my area. I have cash buyers that are buying homes here so there are houses moving. Whether or not there are gems, when it comes to deals, depends on if and when you can catch a motivated seller. There are quite a few motivated sellers, according to the lists I've gotten from public records, it just takes reaching them with the right marketing piece and being persistent. How this area compares to other places I'm not sure.

Hi everyone,

  Just wanted to share some information about Myfax.com. If you're not familiar with internet fax, they allow you the capability of sending and receiving faxes over the internet without the need for a fax machine. They just launched a new service called eVoice. This service allows you to create a local or 1-800 number complete with an automated assistant. Callers can be directed to the prompts that you choose, after you've finished set-up. So, for example, you can have the automated assistant direct the caller to press whatever number you've preset for that caller to receive more information or to leave their info for you.

  I thought it was cool because I moved from Texas to Florida and didn't change my number but with eVoice I can have a local number and still keep my same phone number. Anyway, I thought this was useful info for those trying to streamline their current business or for those just getting started. Myfax fax service starts at $10 a month for home and small business use, eVoice starts at $12.99 a month with 300 minutes or you can choose an upgraded 1000 minute package for $29.99.

To your success!

Dwight

Hi Gabriela,

  Having a Real Estate License isn't required but it does help.  You don't have to wait to be a licensed Realtor to begin investing, it's not something you MUST have.  By the way, I have a few investor friendly realtors in my network so I know for a fact they aren't hard to find.  Being a newby investor myself, though, I took the advice I received in the BP investor's guide and decided to enter the real estate world by taking the 63 hour real estate licensing course for Florida.  I figured the formal education would help me understand the bigger picture while also learning to be a creative real estate investor as well. 

  Right now, if being licensed is the path you want to take, you can start your licensing training at www.Realestateexpress.com for a very low fee.  Their initial training package is just $99 but I chose package 2 for $124.  There are other fees involved that you should be aware of, though.  You'll have to pay to have your finger prints taken and there's the licensing/exam fee as well.  As far as the training, one of the pluses for me is that the course is online and self-paced so you can complete the training on your schedule.  You have up to six months to complete the training but it's best not to take it to the limit, you'll want a month or so before the end to take your state certification exam.  I'm shooting for no more than two months training time.  Should you be unsuccessful at your first test attempt, you'll have to wait 30 days before you can retest.  That would put you over the six months for the class and you'd have to pay for an extension.

  I recommend stopping by the website above for more detailed information!

Hi Dev!

  The Memorandum of Agreement is commonly used in commercial real estate transactions but comes in handy for residential transactions also.  It helps lock yourself into the deal and prevents the buyer from going behind your back and selling to someone else.  The advantage to using this form and having it recorded is that should the seller try to go around you and sell to someone else you will be contacted and that seller's back-door maneuver with the other buyer can not be processed until you release the lien on his property.  If that situation arises you could then offer to be paid to release the "lien" on the property for a fee.  This way you still make money even if the seller doesn't want to sell it to you.  He's stuck! There is a form for this that requires the following steps, in summary:

1. Your information as the buyer, i.e. your DBA name, entity, etc.

2. The seller's name and property address

3. Seller's signature witnessed by a notary public (seller takes care of this or you can walk them through it to ensure it gets done but get the form back as soon as possible!)

4. Your signature is then witnessed by a notary public

5. Record the document at your local courthouse ASAP before beginning your due diligence.