All Forum Posts by: Mike Jakobczak

I would get set up on listingbook and pull some properties in the area you are looking. Once you find something that may work, get a buying agent to pull the sale comps. If it still works with your numbers, I'd tell them to view and take notes of all major issues. Even get them to send you pictures so you can get an idea if this property will work with your rehab budget.

I would stay as close to your where you live as possible. This will allow you to visit the properties as much as you want and get a good understanding of the area.

I found that I learned more when I was in person at the inspections, repairs, etc. This is hard sometimes when you invest out of state, unless you can be away from your home for a few days sometimes weeks at a time. Not too mention the extra expenses that come with out of state, travel expenses, hotels, property managers, etc.

I'd pretty sure you can open a new bank account with most banks, well the big ones for sure. The only negative is some will require you to be in person to do your day-to-day banking. This may cause an issue if the buyer will not be in town during closing etc. Working with banks that may be affiliated with your client local banks may get around this or banks that deal with international clients.

I'd contact a few active investors in your area, either from Biggerpockets or local real estate meetings and see if they deal with any properties that your cash buyers will like and make an agreement with them. 2-3% of the sale of the property or whatever you feel is fare.

I'd have no problem paying someone who brings a fast sale to my property. That's why I don't mind paying realtors

Or if you are re-selling the property, I'd tell them that I will be listing with them. That will get them to help you out.

But if you are pretty active and are using the same agent/agents I'm pretty sure they won't even care to help you out.

My agents do some much for me to keep the relationship strong, and it's very much appreciated

I try to take my agents out for lunch/diner as much as possible when they have been putting in extra work for me.

The majority of jobs are government so everyone has been at the same job for years. The real estate is slow moving since no one moves because they are secure with their jobs. But like anywhere there's always opportunity, just have to look for it. Best of luck.

P.S please dont encourage the senators...;)

It's the same reason we see the new pitch on tv for the new and improved "knife set that cuts everything" or the "cloth that picks up everything" marketing if done correctly can make you thousands, and even millions of dollars. A value is not necessary in product, but in the pitch.

These gurus see this and take advantage of the idea of people can make easy money. On top of this they value real estate as an expensive product and then value their "expertise" as $10,000+ product. Wow, who needs to sell 1,000,000 knife sets, when people are willing to fork over 10,000...That is after they higher that credit card to allow them to do this...haha

I haven't moved but I have invested in other locations other then where I live. I do miss being able to go fix a minor issue and not having to book someone to go tend to the problem.

;)