All Forum Posts by: Jim Hartmann

@Dennis WeberI have found a little information on BP, but I recently came across the Note MBA podcast on my iPhone and have listened to a couple episodes.  So far it has been really good information.  They have a website also www.notemba.com

I am sure there are other great resources out there as well.  I had bought a course on note buying from Donna Baurer several years ago, but I am just now getting it back out and dusting it off and trying to soak it all in.  She has a lot of good info, but like all gurus, the course is a little pricey.

Let me know if you have come across any other good information or sites as well.

Regards

Jim

Awesome site @Joshua DorkinI am extremely glad I stumbled across your podcast and then website.  It has been a wealth of knowledge.

Keep up the great work

@Sterling WhiteI would be interested in finding out more about your meet ups as well.  I am new to notes also.  I am from the Columbus, IN. area.

@Account Closed

Love your statement about measuring twice.  Laying those bricks would have been tough also. 

I reside in Columbus, Indiana.  Home of Cummins Engine Company and world renowned architecture. 

@Marty Rini great job.  You have good vision to be able to see the finished product.  Did you do most of the work yourself or did you utilize contractors?  Did you bring in any designers or decorators to get ideas?

Jim

@David Diner@JD MartinI agree, I have been thinking of RE as more of a hobby for the last 8 years even with 12 units, it does not consume as much time (thankfully) as my full time job.  

@Joe FairlessThanks - It does seem like it should be that simple.  I will take time and train my mind.

@Account ClosedI have met several people on flights that have been multi millionaires and I regret not being more forward about RE.  As you say there are always HUGE deals awaiting all of us.

Thanks everyone for the feedback

Jim

I have spent some time today reflecting on my RE investing.  During my time, I concluded that I have not been telling others that I am an investor when I meet new people.  I have a full time job as an engineer and when I meet people on a plane or in other places, I seem to always mention my full time job first during my introduction rather than mention that I am an investor in Real Estate.  I know that if I mentioned RE first, we may have a totally different conversation and may even make some great contacts that would be helpful in my business.  Yet when I meet someone my full time job seems to come out first.

Is this something that other people have had to work through in the past?  Would anyone have any advice as to how to get my mindset to change and be more natural at mentioning my investing?

Thanks

Jim

I have to agree with Allure.  I have been slowly switching to it as the carpeting has been wearing and needs replaced.  It has saved a lot of time and money at each turnover.

Driving neighborhoods was how I began getting into this business. I would drive around from neighborhood to neighborhood with my wife and kids they almost made a game of seeing if they could find a FSBO or house that had a HUD sticker on the front door/window or looked unkept. We would write down the address or phone number and then when we got home, I would call on the numbers or look on the local GIS to find out the owner. From there I would set up appointments if it appeared to be a good prospect on paper.

I called on one sign and ended up buying four properties with 12 units spread out in them on contract from one person.  This would not have happened unless I had been keeping my eyes out while driving around.

I have also been told to drive a different route home from work everyday even if it takes a little while longer (as mentioned by @Brian P.) to get a feel for which are good/bad neighborhoods.  Also can tell where there are a lot of For Rent signs vs For Sale signs or no signs at all (fairly stable neighborhood).  You can tell so much (as has already been mentioned by @Paige Clarke about the area, the residents/tenants and whether you would want to own there or not.  

Once you find some potential neighborhoods, look online and find out recent comps and other info about the house and neighborhood.  Our local GIS shows previous "sold" prices of the houses listed.  There is a wealth of knowledge to pull in on a neighborhood today.