All Forum Posts by: David Wurzel

@Michael Woodward

Since we can download all the information from both tax and foreclosure auctions in my county I did so for the past 3 years.

I then threw that into a spreadsheet and did a pivot table that told me that 90% of third party sales are successfully bid on by only 10 bidders.  This is over the course of thousands of properties.

I then dug deeper on the top three and saw what they were refinancing their portfolios for and knew I would never match a property they wanted.  I would be left with crumbs if lucky.

One thing good did come out of it.  Can you guess what that was?

If you take over, then won't their current lease have to expire first before they have to sign another?  Until then, wouldn't that lease override anything that you are considering?

Thanks Shaun!

How would you market towards sellers that want to move because the neighborhood has become less desirable?

Per research, this is the fourth highest reason a person will sell.

@Zac Caudell

A.  Find another buyer.

B.  Have him pay for it.  If I am correct, when I bought my house, prior to closing, I paid for the survey.

If they are interested, they'll cough up the money.

Did you ask him what interest he has in the survey.

BTW  Never heard of such an expensive survey.

@Rick H.

I totally agree.  And I think this post has verified my hypothesis which is:  Off the shelf may work in general, and may be a place to start, but it certainly is not the end all be all, especially if there are no numbers, besides vague generalities related to direct mail as a whole, to back it up.

@Jonathan Twombly

This is one of those industries that attracts snake oil salesman faster than chumming for sharks.

It's a shame but a lot of people get really taken advantage of.

Always keep your guard up. Constantly check up and do your due diligence on EVERYTHING and EVERYONE.

It's not paranoia talking.  It's business.

Since you are asking these questions your gut is already telling you what to do.

You are in business.  This rental is an investment. 

Fire the realtor and rent it your self.  If you only have this one rental it's simple.

You have proven your instincts are fine.  Listen to them.

@Steve R.

You are in business, so act like the businessman you are.  You have a contract with your tenant - the lease.   This should make it very clear what the steps are when something needs fixed.  If your tenant did not read this - and most don't - then that's his problem.  You don't go making it up as you go along.

BTW  I honestly can't remember the last time I used the broiler.  I actually thought this thread had a misprint and that it was going to be boiler.

You've learned a hard lesson.

A day late on rent and the eviction process should begin. You're in a business, not running a charity.

In FL there are two types of eviction.  With or without a judgment for money owed.  Quickest way to evict is forget about the judgment.