All Forum Posts by: Jim Sakalis

Brandon,

IN short you have not mastered the direct mail campaign. It starts with your message.
Secondly, its better to send out the same message at least 5 times to 100 people rather
than send out to 500 people one time. 

If you would like more insight and training reach back to me
Jim Sakalis

Lisette,
first of all; not sure why you would turn away income because someone wanted to do a month to month if I read your post
correctly. Secondly, trying to advertise anything that has liability written all over it is bad news.

It would have been better if you just wanted to sell the duplex outright have paying tenants in place. Now that you have sent
notices not good on your part since they have been paying.

Here is what I would do if I was in your situation. I would resend the notices, offer apologizes to both tenants and accept a month to month agreements. Duplexes in general have a higher turn over rate anyway. It does not matter if you had a 12 month lease or not they can still vacate before that lease has expired.

At the end of the day two in the bush are better than two on the street. LOL
Once you have them back you could consider selling outright to another investor.
As far as the dog goes-collect a pet deposit non-refundable or increase rent $25 a month

Good luck-Jim Sakalis 

Tucker, 

It really depends on the lender and the state you are in, but the general rule of thumb is 75% of the current market value will be the amount they would lend you from your equity. They also play out the "debt to income" factor as well. Shop around before pulling the trigger

Good luck,
Jim Sakalis

Makenzie,

I use a company called gotprint dot com. I get all my postcards printed from them which I have found the cheapest anywhere. They also have a direct mail out service as well. I have never used them for that portion since it is currently cheaper for me to get my little ones to help. If you would like other resources to help you grow your business just reach back to me.

Best regards,
Jim Sakalis

Austin, I saw your post and thought I would respond. Its all about the numbers. I am able to obtain properties in my own back yard with minimal repairs at 45 cents on the dollar based on fair market value.  You want to look at the condition as well as its location. You do not want to buy into a drug or high crime area.

I hope that helps ,

Jim Sakalis

Ashton,

Short answer-NO

James,

Turn the power on and provide lamps in the rooms that don't have wall switches. People have to see what their buying if their going to actually live there.

Home staging this project Hell to the NO!

Jim Sakalis

Aditya,

Setting up a land trust for the property is the best way to go especially if you plan on buying several.  I am not sure of the benefits on refinancing down the road unless you have a high interest rate going into the purchase in the being.

I would seek legal before moving forward there are more things you must have in place.

Jim Sakalis

Kyle,

All good questions. My suggestion would be to partner with a seasoned investor rather than be made an example out of later.  To answer your questions in order though and are as follows;

1) YES

2) YES

3) NO a lot of sellers are not qualified to sell any property because their lack of education.

Jim Sakalis

Anthony,

Call the tax assessors. Only they would know that one.

Jim Sakalis