All Forum Posts by: Jason Smith

No problem!Rachael A. Tanner I am trying to be more available for people on BP getting started. Just privet message me and I'll shot over my direct line. In the past, I put out my number on hear and from my "viral" post (not really viral) I got hundreds of calls. Will talk soon

Exactly!!Wayne Brooks you really shouldn't have to ask for "title insurance" the title company will add that if u are going the WD route...the only time I don't ask for that insurance if I was buying homes in a package deal...where I would get a quit claim deed (pending on sources/situation) and it's up to me to either take on the risk or just spend the money on the WDs anyway Judy my humble opinion...but for sure get a WD if u can so you know you are protected

HelloJing Hoyer I would personal get a WD instead of any other just for peace of mind. Getting a SD is not bad if you do your Due-diligence up front, letting the seller (wholesale or seller) know you wan to run title on your own efforts. The SD is just like the WD conveying everything is on the up and up the difference (why it's called special warranty deed) is it only tracks what the current seller has done with it. So for example, if this was purchase from and auction (government tax or private sector auction) make sure that their are no judgments or government liens on the property...these types of issues don't come out of the shadow until the government does a national audit on all their outstanding debts. However, if you run title all the way back before the seller purchase it (ask the wholesaler about this first) and their might be something discuss it with the wholesaler, if nothing make a move. As far as the inspection, most wholesalers do perform a "their own opinion inspection" not a license one...so it's up to you if you can trust that person on his knowledge/numbers when it comes to repairs cost. I hope this helps

Rachael A. Tanner welcome to BP I am a local investor in kazoo. We have purchase/sold to date (July 2008-March 15) 1295 homes. If you are looking for an experience, down to earth type of person that can walk you thru your first rental or flip (wholesale or rehab) I am here to help you with the mechanics of the Deal process-

Hi Kyle Daneff welcome to BP I am a local investor in kazoo. We have purchase/sold to date (July 2008-March 15) 1295 homes. If you are looking for an experience, down to earth type of person that can walk you thru your first rental or flip (wholesale or rehab) I am hear hear to help

Matt Lefebvre I would say many people on here don't understand that valuation modeling system (mostly done by agents). A lot of private equity/hedge groups have models that balance the risk between those options you listed (pending/sold etc..) I too use a type of Metic model that figures out what an area in a state will be the most inconsiderable rental decrease, letting me know how I can purchase a home today, and by research of that area (as well as other up and downs) can produce 2 yr prediction of what my sell price should be/what rents should be etc....my point is trying to be sophisticated is great but...getting rid of a deal FAST...it's time for a fire sale if u ask me!!

Kyle Scholnick give the guy a break he's here to find out if what he is doing is a best practice in REI...but let's look at what is best practice...oh wait it's called learning from your mistakes...I have 10 SFH/12 mortgages that I collect payments on and a 351 apartment complex with 351 personalities that u must deal with...my biggest advice I give people is once u have made a mistake analyze it and figure out what wen wrong and make it your goal to never make it a 2nd mistake...in this situation if this tenant is willing to leave than let him leave...but the end of the year is coming and trying to find a new one might be difficult...so I might do is go over his finances with him (not weird because his rent is the only thing that matters above any other bill) and figure out what he can afford (pending on the landlord situation) and create a contract for a specific period up to spring time and find a tenant that is willing to pay your rate...just my humble opinion

I definitely agree with Dan Mackin on this I am not on BP as much as I want and just looking at my past and current post I too would like to beef up my network national...thanks for pointing that out

I would agree joining a REIA is great but make sure it's a "investor friendly" meaning they talk about other facets of REI besides one such as Landlording...I Believe their are meet up groups in your area...Ramon Huerta we should network together

Dawn Brenengen that's a great acquisition deal...how tight is that ConC return? I say that because I am exploring the option to open up other market and many of my partners have suggested I should take a look into the Raleigh area more deeply...If I can stick with: min of $20sqft to a max of $35sqft on a min of 1200sqft asset with the max repairs of 7k and a ConC roi of 11% (50% of net income goes to expense) I would like to see what you might have available