All Forum Posts by: Mike Jakobczak

I apologize for anyone who falls into this category but I need to discuss this because it's a pet peeve that bothers me so much!

The Truth about Gmail, Hotmail, and Yahhooo accounts!

I'm tired of receiving e-mails from ILUVHOMES@ PROPERTYMAN@ or FASTCASH@ gmail,yahoo, or whatever. If you're not taking your business seriously, why should I???

The solution to this is simply! Set up a business and get a proper e-mail account. Your Credibility just went up in my books! I bet you will get 75% higher response to your e-mails.

Would love to hear everyones thoughts on this.

Yea if you google bandit signs you should be able to find a few companies.

I think I paid $1.00/sign

Sign up, they tend to do a lot of marketing on sales.

If I come across any deals I'll post them up

Well REO's require 3 things:

1.Purchase Agreement
2.Earnest Deposit
3.Proof of funds

Some REO's wont accept your offer if they don't have all three. You can get a great discount shopping around in REO.

If for some reason you can't provide all three, makes a good reason to partner with someone who can. Once the contract is accepted you can fund the deal with any money.

A joint Venture would help you out. I would team up with someone and flip your investment so you can acquire a bigger down payment for a multi-unit property.

Where are you looking to invest, I'm always looking for partners.

Although I haven't been around for many cycles. My thoughts on the heavy foreclosures areas such as Nevada and Florida are: Unless you plan to buy and hold for 5-10 years, it's a risky buy.

it's hard to land a deal when 8/10 buys are foreclosure. Your great deal today turns into a bad one tomorrow.

A major drive for people to buy in areas are the long term security in work. So I tend to stay where there seems to be grow in the economy. When people have money they will upgrade and spend more. Causing the neighborhoods to appreciate.

Hey Everyone!

Just wanted some people's opinions on raising private funds for their properties? What do you find that works in your market and what doesn't. Any input is appreciated.

:cool:

Yea try to stay to properties that are around 50-65% ARV to make a profit on the flip

Anything higher will make it, down to the wire on your profits.

Also I would stay away from expensive flips. Unless you are very educated on them.

To set up a google alert: login to your google account (or create one)

Under accounts: there should be a tab for alerts.

Click manage and there should be a tab on creating a new alert.

it's pretty easy.

I would also recommend searching the county if they have a crime watch page. I find most do. That would be the best option.

Good points everyone.

I think if you're going to go into D neighborhoods, you need to see if there is potential of the neighborhood improving. Some of the highest yields on profits are finding the D neighborhoods and watching them turn into C and B neighborhoods.

That being said, if you are finding out that majority of the neighborhood crime is drug related. I would stay clear.

Find out what the city is planning to do with the neighborhood. Are they cleaning up the streets. Improving the roads, sidewalks and offering incentives for investors to come in and help.

But remember cities planning department change their minds like I change my clothes. So just because you hear great things, wait until the city has started. You don't need to be the first person in you get a great deal. Wait until construction is under way, then come in and grab a great deal.

Another way to see how the area is doing is to call up 5 businesses and speak to the managers and get their opinion on the area. Just make sure you ask a few, some may be very bias because they grew up there.

google alerts will alert you with local crime in areas.

Some counties have local websites also

Any sites that have a fee I would not register, since this info can be located for free.

Also use google maps and bing maps for the 3d visuals of areas. If you see lots of broaded homes and blue tarps in the neighborhood. Stay away!

Also check local schools, see what they're rating are. These will give you good indicators of the type of neighborhood your looking in.