All Forum Posts by: Jesse Tsai

I've never specifically targeted stigmatized homes. 

First idea that comes to mind is to download police report data.  Look for murders, homicides, etc.  

Next idea is to read the news, and when an event that would cause a property to be stigmatized occurs, go pursue the property.

For anyone thats curious about the FTC sanctions in real estate after reading @Bill Gulley 's post:

https://www.ftc.gov/tips-advice/business-center/le...

A good chunk of them are for foreclosure relief scams,  but it does show the FTC is somewhat actively investigating in the space.

The complaints are fun to read since they go into great detail about the crimes the perpetrator committed and the evidence against them.  The press release is a good easy read to see how badly the FTC sanctioned them.

I Use hubstaff. Takes screenshots of the VAs screen at random intervals. Then what you can do is hire a third VA who doesn't know the other two VAs, and have that VA look at VA 1 and 2s screenshots for irregularities.

Miles Kinney welcome! I agree, it's tough finding properties now. I'm paying a bit more than 70% ARV and I haven't been able to get anything in past two weeks, which is unusual for December. As Christopher Brainard is said, I wouldn't worry too much about the money. If you find the deal, the money will come. Good luck out there!

Based on your numbers:

ARV 130k

Rehab 30k

Closing Costs $2.5k

Desired profit $15k

Financing $10k

Selling Costs $2.5k

Your max purchase price is $70k.

Now say you buy for $80k,  your profit goes to $5K.  If $5K is an acceptable amount of profit for you, then go for it.  If its not, then negotiate with seller until either you guys get to an acceptable price, or the lead goes cold.  If lead goes cold, move on to a new deal, and periodically follow up with cold lead.

Just get on the phone and talk to them. Ask them some questions about their terms and lending criteria. You'll figure out really quickly who is legitimate and who isn't.

I advise the agent to wait until 3 DOM and then send a multiple offer disclosure and ask for highest and best. I have little to nothing to lose by doing so, and only have upside.

I too had a bad experience with NREIG / Affinity / REI Guard. I had an insurance claim on one of my properties, and was completely ignored. No one ever responded to the claim. I tried making the claim several more times before just giving up. The amount of the claim was in mid four figures, and wasn't worth my time to keep pursuing. I'm now shopping for a new insurer to bring my business to. After my claim experience, which was essentially non-existent despite my best efforts, I came to the conclusion that their policies are worthless and might as well be printed on toilet paper. They're a good company for quickly issuing policies, and having investor friendly processes. I just have serious doubts about their claims handling, and would suggest other investors try and exhaust other options first before using them.

Desktop with four monitors is the way to go:

One for property spreadsheet
One for pulling up property pics
One for subject property info
One for comps

And a 13 inch MacBook air when away from office

Wayne's right. You'll be back to square one if they don't move out. When I do cash for keys agreements here, I'll continue the eviction procedure until I get to the point where I need to file the formal eviction. At about $1k, that part is the most expensive part. I also make it clear to the occupant that I'm getting them out one way or another. I explain to them that I want to help them, and make it easier on them. I also tell them that I have no problem with performing a lockout if I need to. They've all been grateful for the offer and moved out as promised.