All Forum Posts by: James Dickens

@Martin Ruiz you may want to check out this thread: REIpro discussion on Bigger Pockets

@Ross Kerne LOL it sounds like that may be the case. If his books are not well kept that may give you some leverage on bringing your offer down. If he can't prove a steady income from the property due to shoty bookkeeping or if he has been collecting cash and not reporting then you could potentially use that as a pressure point. 

Anyway, good luck on this deal. Hope it works out for you and would love to hear an update after all is said and done!

Have you been able to see his books on the property? Rent collected? Former repairs that have been done? I think that kind of information would be of great value in your decision. I know that those numbers have to be taken with a grain of salt but might help you determine over time what has gone on with the property. I'm a bit new at all this so sorry if this is a dumb question :)

There was a place like this in Dallas 20 years ago when I lived there so it's not new but I had always wondered why I hadn't seen more of this type of renting of commercial space. Every now and then I have seen small splits almost like a mini-mall but they don't seem to last long. 

For shops, I think they need to be a place with either an anchor store or in an area that gets traffic from one or more anchors. With Hairstylist's they usually have or are trying to build a steady client base so an Anchor is not needed. However, if you could pair that up with say someplace like Sally's Beauty Supply or Safora <sp> or some other larger chain store that caters to women then you could potentially drive a lot of business through and to this type of arrangement. Could be a big win-win. 

So I have been looking at REIpro as well mainly due to another thread on BP that posted links to Chris Goff's 3 videos (each an hour long) on his process and in that he weaves in how to use REIpro. With or without it's a good series of videos to watch. 

So my questions to those of you using it are: 1. How long have you been using it (some of you have shared that) and 2. How many deals have you done as a direct result of it? As a bonus question have you used it to do Lease Option deals which is what it seems is the Bread and Butter for Chris and what the videos are mainly focused on?

Here are the 3 videos I watched: Part 1 Part 2 Part 3

Have you asked the potential buyer why they are determined to have the unit vacant? If you ask the open-ended question you may find out more information on their motivation that could help you create a win-win.

You may also do the same with the old man who is your renter. What is his motivation to stay? You may think you know the answers but until you ask you can't be sure. 

These 2 questions and any follow up they provide may give you alternative options that you don't realize exist.    

Great List @Tim Schroeder ! Thanks for putting that up. Great Place to start getting information for STR.

Great work again @Will Menard ! Really nice looking after shots. 

One of the podcasts recently (last 20 or so) one of the guests said she had bought about 4 properties from auction.com which I think posts properties on Zillow. Would be nice to hear if anyone else has bought this way. I have seen a few that look decent but I'm still in the lookie-loo stage of this Journey. 

@Stephen Schott yea I looked at Cape after I looked at Ocala and there are a lot of really cool properties near the college. I did see quite a bit in the way of rentals as well on Zillow. I also saw an apartment building that looked nice but no information on how many doors and what layouts they had. Does look like a nice area but I was surprised to find that the higher end real estate was not overlooking the river and the river appears to be on a high bluff? Anyway looks like a cool place. Will send you a PM!