All Forum Posts by: Jacob Lee

I am a buy/hold investor, how would I go about paying off the loan w/in 90 days using a buy and hold strategy? I guess I've always thought of HMLs being used for flips. - thanks!

Makes sense. So when pursuing an off market deal I'd essentially have to be clear from the get go that I'm solely interested in financing? Whether that's in an ad description, direct mail letter, etc. But it also sounds like it'd be a better use of time to have a wholesaler only send me properties when a seller is open to financing. 

Thanks for the tip on FB. Probably just saved me a lot of wasted time!

I live in Atlanta, Ga and am in search of my 2nd investment property. I currently have two agents sending me properties but would like to begin searching for off market deals to increase the amount of potential leads. My main question is how to go about purchasing an off market deal with traditional financing. Is hard money or cash the only way to finance these deals? I don't love the idea of hard money loans and don't have enough cash to buy a house outright. Any thoughts? 

I'm eager to give FB ads a try but all ads I see are marketed by cash buyers.

 Understood. I'm assuming you'd recommend sending direct mail to distressed owners? Possibly from buying a list of potential sellers? 

 Definitely agree. Finding great comps can make it a lot easier though!

I'm currently working a full-time job but have been spending my mornings and nights searching for and analyzing deals. Out of all the different ways to search for properties and generate leads (MLS, Direct Mail, etc) which one seems to have a high success rate in your opinion? Driving for dollars is almost impossible for me except on weekends and recently it's been difficult to find anything on the MLS. Finding off market deals is where I'm stuck...Any thoughts?

Not very knowledgeable about UT real estate but I typically use these %'s in my proforma calculations:

- Op. Ex 5%, Cap. Ex 5%, Vacancy 6% (maybe bump this up to be safe), Appreciation 2% and Annual Revenue 2%, etc. 

The willingness to do what others aren't. Always be more prepared and more eager than the next guy. In that same vein, there's always someone who's more experienced or more knowledgeable than you. Being determined to learn as much as possible day in and day out has really helped me gain a lot of real estate knowledge in a short amount of time. 

@Justin Kane Awesome, thanks for the recommendation! 

I recently finished rehabbing my first property in Atlanta, Ga and have begun the tenant screening process. I decided to use Zillow Rental Manager and despite the fact that it wouldn't let one potential tenant complete the rental application (due to unexplained reasons), it's been a very simple and easy to use service. While listening to a BiggerPockets podcast today, I heard a guest speaker talk about Cozy... I'm curious what more experienced investors have found to be the best tenant screening service. Does anyone prefer Cozy instead of Zillow or other services?

Thanks!