All Forum Posts by: David Hildebrandt

If you wanted to make it non refundable, just charge it as a bump to their monthly rents. This way it is not labeled a deposit in anyway and if they extend their lease (hopefully) for many years, you continue to make the fee as opposed to a one time deposit.

Search them out and send them mail. Repeatedly.

I have had great luck with REI Guard. They seem to be advertising on the forums, or at lease their re targeting is getting to me, since I have been on their site. Make sure you get a renters policy, will be cheap and you can pass the cost on to your tenant if they don't already have renters.

Is it possible to lock up the second property until June and then do another occupied FHA finance on the second property? Or are you saying you would need cash in order to close on the second that you otherwise don't have?

Todd, I have had good luck with thumbtack.com. Now I haven't used it for something on the scale at which you are discussing. But the successful bids on which I have executed were from companies who were much larger and could seemingly handle projects like you are talking about. The best thing about thumbtack is anyone providing you a bid understands there will be competition because that is the nature of the site.

Best of luck!

@Chinmay J. I am glad you brought this up as I am sure some people are thinking the same. The beauty of the automotive industry is they are always looking for someone will to give up there life in exchange for money. If push comes to shove I will be welcomed back with open arms. I am leaving on great terms.

However finding an alternate job with less stress (outside of being a barista) is a tough ask once you have 10+ years in the car business you are generally pigeonholed as less than.

We are financially positioned to endure quite some time of a lesser income. I feel terrible for people who feel like they 100% cant leave their job because they spend more than they make already. Lucky to not be in that position

Thanks for all your positive feed back. I do plan on doing some consulting for small dealers in town, just to pay the bills.

I feel like I buried the lead a bit by wrapping it up in the context of this large life event. My point is I can't replace my income tomorrow, all I can do is take the next step and for me that is getting to know the people I have yet to meet, joining the local REIA, attending local meetings, especially the one @Joe Fairless runs here in town. I am not going to get rich posting on bigger pockets have to get out there and DO SOMETHING!

admin please move to most appropriate location

Holy S*!t

This probably is not the post you expect it to be. And being as I don't know your financial situation or discipline level I am not authorizing you to do as I have done.

I have not made it big in real estate.....yet and I still chose to walk.

***This is a commentary on networking. Scroll to the next *** for the rest of my story.

Today will not be the day you win the real estate lottery. More than likely you will not make it rich today alone. But today can be the day you take the next step on your real estate journey. After you read this post GET OFF YOUR BUTT AND GO MEET OTHER HUMANS!

Seriously I don't care if its at the grocery store, the movies or your local REIA. Call a friend and ask them what they are up to, see if you can tag along and meet the people they know. Talk about your interests, more importantly ask them about theirs. 

Today was my off day, and I decided to tag along with friend to the second most popular auto auction in Cincinnati. Why? Because I had nothing to do, and I am about to leave my job, frankly. Met a few guys, shook some hands. And ended up talking with the President of Commercial Acquisitions for the largest real estate group in Cincinnati. Why was he at the auction? Because he was looking for a new whip? Because he was about to leave his job? NOPE because he owned it...thats right he is the minority partner, owns the land, the building and a part of the operations. AND he was more than happy to spend 20+ minutes with me, gave me his card and told me to call him if I need anything. 

Here I am a guy who owns all of 2 units picking the brain of THE guy. And he told me to call him, AND HE MEANT IT.

So I am setting two new goals, I hope you might come along with me. I know I will not become independently wealthy from real estate next month. But in the next thirty days I have a goal to collect 25 biz cards from RE related professionals and give them mine. I also have a goal to contribute to this forum 100 total times in that same 30 days. Please join me. Join me so you can feel a sense of accomplishment on your way to accomplishing your ultimate goal. 

***After the better part of ten years in the car business, working every Saturday, punching the clock for 50 hours per week, listening to customers whine about how I personally assaulted their character with my trade in value. I AM WALKING AWAY. From the second highest title in my dealership none the less. Feb 28th is my last day and I couldn't be more excited.

If you have read the Miracle Morning you will understand the concept of not letting your life situation, control your life. If you have not read it let me provide a personal referral to a little site I like to call amazon.com. 

If I wanted to pursue real estate or any other of my interests I could no longer be burdened by all the thoughts that prioritized my job at the dealership over my own personal goals. Surely you will say, yeah but Dave wouldn't a six figure salary help you acquire some more properties? Not if your frontal cortex is melted when you arrive home after nine hours of repetitive bullsh** floating in a stew of mediocrity and your days off are spent watching the minute hand spiral toward the inevitability that you must once again return to imbibe of said stew the next day. Liquid brain syndrome does not beget actual liquidity.

So what am I going to do you ask? Well I am going to figure it out. Did you hear that? I AM GOING TO FIGURE IT OUT. Not wait for my boss to give me marching orders, or spend the day determining what new process I can implement to help my owner profit another $50K this month. I AM GOING TO FIGURE IT OUT FOR MYSELF. Live up to my potential and do things because they benefit me...they benefit me mentally, physically, spiritually, emotionally and perhaps, yes even financially. BUT I GET TO PICK WHICH TAKES PRIORITY.

Thank god for my wife who has encouraged me to make this decision even with three kids at home to raise. I do this for them.

Now I am really confused @Sam R. Check out page 6 of the link I posted. I know this is a checklist for the buyer (you, as I have come to realize) but it also covers what the bank requires.

Sorry, I assumed you were on the buy side.