All Forum Posts by: Jake E.

@James VasquezI'm not really sure if I understand the question correctly but just for the info., I hire VA's and they do fine. They don't mind making calls or making offers all over town. I personally attend meetups and REI groups to network and network on social media. I have made deals at the groups that have made me plenty of money because everyone has different preferences and niches in real estate investing. I don't really put a lot of emphasis on licensed but rather on hustle. You can always hire a call service to take your calls or VA to post on sites, but no one should be better at it than you in your business. Good luck to you friend!

All I can say about Memphis Invest is that they are great. We sell wholesale deals to them all the time. They know what they want and move fast. I've had the opportunity to sell to them, watch them do their rehab, then rent it out with great success. They have a great business going and they do a great job for their investors. Again, I'm only on one end but I've seen them go to completion. Of course do your own due diligence @Steven Roffer but from what I've seen, they are business to build relationships the right way. Have a great one!

@Cheri SchafferI can certainly understand that there would be pros and cons to the appliance issue but I recall, with laughter of course, my mentor in this business explained to me how " he was not in the appliance business". He owns well over a hundred SFH's and I can only imagine now what that would amount to. I only have 12 SFH's and I just want to learn from the old pro. Have a great one!

Steve, the only issue we have experienced when it comes to appliances would be hooking up dishwashers and getting them stabilized. We do this to prevent the damage ahead of time. When it comes to other appliances we may have experienced some minor scuffs but certainly nothing of great expense. 

it will all depend on whether or not the mortgage is an FHA or conventional. Also, you may want to check some local state banks in your area for they are real estate friendly. I'm not sure about Pennsylvania but in Texas the state banks love to do deals and it really doesn't matter how many. So, probably the fastest way for you to find out is call a local broker in your area. Best of luck to you!

Personally, we don't provide any appliances at all. The lease actually states that we do not provide them and if they are in the unit when they rent it then they are free to use them but we will not replace them. Honestly, I was uncomfortable doing this when we changed to doing it this way, but now it's pretty easy. I never have a problem renting out units with or without appliances. 

@Janine Perezplease tell me a little about this delinquent tax sale land. I'm sure its probably similar to everything else when it comes to locating deals but how would I know what its worth and where to find some that are delinquent. I never really deal with tax sales when it comes to buying houses because most of our deals come from distressed properties. 

@Jairo Freyrethe lesson that you are learning right now is priceless and if you press on through it until it closes, you will have gained so much. The question you must always ask yourself is how. How do I come up with a better way to market this property? How do I get into a deal with more leverage than before? How many people do I know that could provide me with funding? How do I go find a deal that is 65 cents on the dollar minus repairs? By asking "how" our minds are always in motion to come up with an answer. As Jd stated earlier, most all of us took a good beat down at sometime or another; its what make us better and stronger. Don't be discouraged for you have already done more than some will ever do in this thing. I wish you the best in all that you do!

@Jon Holdman and @Jay Hinrichs thank you for the great insight on the subject. So it looks like I'll just be hanging on to it. Are there any books you might recommend in learning more on notes? Thanks again for your time and have a great one!

The value is at 80k, we are in 1st lien position should they default, and they have 15yrs and 2 months remaining.