All Forum Posts by: Jeffrey Edwards

Check out www.policygenius.com.

They can give you quotes on potential homes you may buy or current homes.

I suggest you read the Bigger Pockets book written by David Greene "Long-Distance Real Estate Investing".  It's a really good book and really in depth.  Will answer most, if not all of your questions. 

Find a guy online named Ricky Carruth and you will be shown the way.  His coaching is absolutely 100% (not a joke, no gimmicks) free and he changed my life. 

Love this idea!  Would you mind sharing your google form if it’s not too much of a burden? 

I typically ask them what they are exactly looking for and in what specific areas.  Some know and some don’t. If they ask me for suggestions, I normally help them out with that.  I ask them if they are buying cash or financing and if they need help with financing, I offer suggestions as well.  I then do a “test”. I send them 1 property that exactly meets their criteria and then you see who the serious ones are and who the tire kickers are.  

Hello!

So I have been receiving many people reaching out to me that are finding me through BP.  Some of these people are out of state investors and some people are local.  I always take the time to talk to each of these leads or attempt to contact them in some way.

My question is:  A lot of times we hear David and Brandon talk about providing value to someone, especially when networking or reaching out to agents, contractors, influencers and so on.  Now it's clear what these people want from me; my knowledge of neighborhoods, my connections with trades and property managers and so on...and that's usually how the conversation goes.  "Hi my name is Jeff and I'm an out of state investor, I'm looking for X and want to know what areas you are seeing this in".....and so on.  So right off the bat they are already going for the jugular in seeking my knowledge, which is completely fine, I have no problem taking the time to help with some basic questions.  I think the problem I have is that "what am I getting out of this relationship"?  They haven't offered anything of value to me in any way, shape or form and I wanted to see how other are approaching this or what ideas do you have?  If you say right off the get go "Hey thanks for reaching out, lets sign a buyer agency agreement and then we can talk" they are just gonna move on.  What seems logical and fair?

As a note, I have spoken to a few local investors and actually converted them to clients and I'm currently helping them find properties (we have agency agreements signed).  So that's great and I'm grateful for those clients.  

Any ideas or insights to what you're doing is appreciated! 
  

If your plan is to hold long term, then I personally would either cash out refi or HELOC. You pull the equity out and then put it into another deal. I would lean towards cash out because who knows what the interest rate will be in 5, 10, or 20 years on a HELOC but both have their pros and cons.

I live by the "if it isn't broke, don't fix it" motto.  That being said, I would definitely make sure to get the furnace inspected by a licensed professional and have it checked for proper operation and no CO2 issues.  If there are none, then I would just budget for a new one and then replace once it finally goes. 

Red Flag for me.  Why wouldn't you want to make sure the work is completed up to code?...especially altering a foundation.  Imagine if they did something wrong and something happened?  And then imagining something happen to the family that rented the house and the insurance company looks and sees the work that was done without permits....yikes. 

I would suggest you join a brokerage who would offer the exact thing of what you are looking for.  Not all brokerages are the same so seek out a "newbie" friendly one and go for it!