All Forum Posts by: Dana Whicker

replacement or new install? Ductwork in good shape? Both inside and outside? When was the condo built?

 Not everyone who has used this phrase is a wholesaler. I've used it and I actually buy houses.

Looks like a home run to me. Congrats!

I have no idea if that's reportable or not but it seems fishy that a mortgage broker/flipper would steer customers away from flips. However, it could be something as simple as he doesn't make as much commission on non-conforming loans vs. conventional. Just speculation on my part.

I have found that I have no patience for other folks giving me advice on what I should be doing with my money. I'm more that happy to hear other's ideas and decide for myself what's best for me. That's why I'm here at BP. There is always knowledge to seek and discover. But I would find another loan officer in a heartbeat. You're the customer, he shouldn't be steering you at all. Just my 2 cents.

REI Legend! @Mindy Jensen

Are you able to talk to the current tenant? From their perspective, a new landlord might be the "cure" that they have been waiting for. Obviously get the mold situation 100% buttoned up right. 

If there is no pleasing them I would offer cash for keys. Give them enough that they turn from being an unhappy current tenant to a happy ex-tenant. Enough to get them moved into another place is usually enough. 2-3 months rent. *no legal advice follows* Make sure you have them sign a liability waiver *not legal advice*.

Whatever you do, don't let a deal that fits right in to your portfolio get away because of a tenant. They don't own the property, you do. Once you close on it, you're the boss.

Hey Tyler, You found a goldmine of a resource here at BP. With your construction experience you have an opportunity to get started off right. Spend some time around these forums reading and learning and you'll be fine. 

If you want money without working for it you could try the lottery.

I don't tell people I'm a REI these days. They think it's all Chip and Joanna. Well it's not. It's a lot of hard work and it's a long game. So it's a lot of hard work for a long time. But the payoff is very good if you play the game right.

You have to get very good at the numbers. Know your market(s) as well or better than your favorite agent(s). Build relationships. Then when you see a deal, you jump all over it. By the way, these days the only reason that deal was there was there's probably a problem to solve. Get good at solving problems. By the way, does that sound passive?

Then again maybe I just don't know the secret.

I my market the Zestimate is worth within 20% of what Zillow charges for it.

One thing you'll find in REI is there is that personal touch that some people have and are very acutley tuned in to. Then there are others that are stone cold strictly business types. REI is not so much a land business is it's a people business that involves land and the stuff we tend to put on land.

Don't be offended. Put it aside. Brush it off. That's what will work best for you in the long run. Wait for your agent to get back to work and let them inquire for you is my advice. I know the area you are referring to fairly well and it is heating up btw.

Build your team and you all do your part and everyone can be successful.