All Forum Posts by: Jeff Morelock

Just wondering who is buying what and where in the Tampa Bay Area.

Congrats - you've already started with this post. Like everyone else suggested - click on the learn tab. Attend some local REI club meetings. Just google real estate investment clubs and whatever city you're in.

Its a necessary evil. You may have to attend ten meetings before you get your first deal, but eventually people will start to recognize and trust you. Its not like shooting fish in a barrel, but you may end up with a deal.

You will learn though. By talking to people, and more importantly, listening to people, you'll pick up on who's looking for what and where.

Go to your first few meeting with the intent to gather information - not build a list or sell a house.

To Your Success,

Jeff

Hi Chet

I sent you a colleague request.

They wish they had what you have - plain and simple

Every REO is different. Banks are not giving them away anymore. A banks list price is going to be based on at least two BPOs or Broker Price Opinion. Using a "blanket" formula to come up with an offer price won't get you a deal no matter what the gurus are preaching in their thousand dollar courses and coaching programs.

I'd start by finding a local real estate investment club. Attending some meetings. Listen to the BP pod-casts, and of course read through the different forums to see what part of this biz trips your trigger. You also need to figure out exactly what you want to accomplish with REI. (make more money) is not specific enough if you really think about it.

Thanks Colin. That's what ours said but it states 120%. 

Kate, we have not closed on this one yet so I can't give out the address. We're always open to selling them and moving on without rehabbing. Please send me a message if you're interested. 

Thanks for the info Wayne - exactly why I like BP. I guess I should have done a BP search because I found a few more threads on it after reading you post.

Looks like I have a sweet deal locked up. Now if I could figure out how to move Bradenton closer to Tampa I'd be all set lol.

I've been in the biz since 1993 and have never seen such a restriction. Its on the deed but I doubt it matters due to rehab time. We did get a bid from a licensed GC we've vetted and used in the past. We have it under contract, but I wanted to get some input from BP. - Thanks for your input so far.