All Forum Posts by: Eric Bowlin

I personally dislike QR codes. I'm of a young generation (<30) and I can admit that I do not know one single person who uses them.

Think of a QR codes as a bar code. Why doesn't your can of peaches simply have a big bar code on the front that you can scan with no other descriptive information? Imagine if you had to take every item to the code reader to check for prices? I wouldn't shop at that store!

QR codes are essentially a difficult way to solve a simple problem. QR code = web address you cannot remember. They will never remember the website and will never navigate back to it at a later date. 

QR Codes are difficult to use. I can open my browser and type in the address and open it on my 4g network faster than you can open your app-store..download a qr code reader..open the app, let it load, scan the code..get an error..scan it again..let it look it up then redirect to the webpage. I want my info NOW and I don't have time to waste with bar-codes. 

I would drive by the house and notice it's for rent. Before I even got out of my car I've searched the address on zillow, google, craigslist, backpage, and anything else I can think of. If I can't find the property listed online, I'm probably not even going to stop as a roll by. 

Simpler is better. Replace the QR code with a simple, easy to remember web-address in the same location or even your phone number. There is a reason why Realtor signs have a giant phone number on them but no QR codes. If you have a number I would stop in front of the house and call you. 

I'm not a marketing expert, but I subscribe to the idea that you want as few barriers as possible between me and my lead.

I'm done with my rant against QR codes. If you couldn't tell..I really dislike them! haha

Smart REALTOR. Doing a solid sales comparison takes a lot of time. Appraisers essentially do the same thing and charge 500+.

Never used that site so I don't know.

The old roof is something they will catch at inspection but not usually something they will notice before offer (unless it is so bad that it's falling off). This means you will get full price offers but hit for it later.

But...buyers always try to hit you on something because buyers need to 'feel' like they got a good deal. I always leave one obvious thing to negotiate over so they don't get picky about stupid things... The roof is a good candidate.

There are lots of ways to do anything.

I had a multi and paid it way down. I found a bank that would do a cash-out HELOC. They paid off the old loan and gave me a huge line of credit. I used that line of credit as a down payment on my next property which is more traditionally financed.

I bought another property to renovate with all cash using the line from the first. I got a HELOC and it financed 3 more purchases and a little on a 4th.

I just feel that the HELOC is a very powerful and flexible leverage tool. It's interest only so your cash-flow is much higher as well.

HELOC are the best. Very low fees...say $100. Usually interest only for 5-10 years. Also, their underwriting standards are more lax and turn around is pretty quick. You can get the most cash out and have the lowest payment for the longest period of time.

Hire a laborer for $10/hr...Best $75 you'll ever spend.

@Bogdan Cirlig Well I can't speak for how things work outside of MA..But after given a judgement, they are expected to pay. You can request a payment hearing where the court evaluates the status of the payments. Here, the court issues a Summons to the defendant to appear at the payment hearing. Often, tenants skip court. Ignoring a legal summons IS an arrestable offense and they issue a civil warrant. 

Here in MA, a law enforcement officer will not enforce a civil warrant. Civilian constables DO have authority to arrest (i.e. "compel" a person to court). A good constable is basically a law empowered collection agency that dangles the arrest warrant over the person until they pay. People think "arrest" and think of being "booked and processed" with finger prints and pictures etc.. Often, the tenant does not realize the 'arrest' just means they get brought to court that day and forced to listen to a judge tell them to pay.

The good thing is all my court, attorney, and constable fees were legally added into the judgement along with 12% interest for the year and a half it took to work through the courts.

At least...this is how it worked for me the one time I've had to do it. 

I get a judgement and execution and contact the local constable.

After a month or two, if they don't pay they get summonsed to a payment hearing.

If they don't show, now the constable threatens to arrest them if they don't pay.

Just collected 5k judgement doing this.

Good luck

@J Scott I agree. I don't like rules so I try to break them. Guess I failed this time. Better luck next time!

@Jeff S. I can beat the 2% rule very handily if I buy an REO that is really run down and I fix it up. I cannot get more than 1-1.5% if I buy anything at market value that needs little or no repair. I avoid these 'good' properties generally.

I try to do well by controlling costs and managing my own properties.