All Forum Posts by: James Bell

 I concur with Mike.  I've found Foremost, sold by Farmers Insurance has a vacant property policy (with a number of qualifications).  Expensive, not great coverage, but better than being naked.

I'd highly recommend the "Shwayder Academy", but it no longer exists and would date me!

 The only way I know is to watch the auctions closely. If the auction goes a 2nd or more rounds there is generally a couple of weeks between auctions.  It was always time consuming process as the actual auctions can go on for a couple of hours at the end until the winner is determined, with additional time added to the auction each time a bid is placed. That is also the only way I know how to determine what the previous auction price was as well. That information isn't listed anywhere else and disappears as soon as the auction is determined.  But it has been my experience persistence pays off.

Please note it has been about a year since I purchased through auction.com as the market in my two primary geographical areas has changed and with it the number of properties that are being offered on auction.com.  Good luck.

@Jeff Lucas   Tucson AZ.

I don't want to say the party is over, but I'm not finding many deals at this time in my neck of Northern CO.  I recently closed on an estate house, making a fast full offer on the 1st day it hit the market.  Had the attorney waited a couple of days to accept offers I'm sure the estate would have gotten better offers than mine.  Sometimes cash really is king.  Some times luck is on my side.   I only offer $ on what I can make money on.  

I'm glad I have a secondary market to invest in, where there are deals and the weather is warm!   For me, it's cold in Colorado......in more ways than one!

I have property in both Colorado and Arizona.  In AZ, it is the least expensive way to "side" a house.  Ridiculously inexpensive as it is so common and the competition for work is ferrous.   In Colorado it tends to be much more expensive.  As mentioned, the freeze/thaw cycle combined with moisture can be a problem with it on the front range of CO.  In CO Vinyl is my least favorite siding material, with Hardi Lap being my favorite, but pricey.  On flips I tend to use pre primed composite lap siding.  Inexpensive, looks good, goes up fast and easy and will last a long time if maintained.

Land Title Guarantee.  By a mile for me.

Matt,  My advice to new investors is pick a county that you are interested in investing, get to know the County Assessors web site and how it works.  A huge amount of information can be gleaned from this web site and other related government web sites.  Then start identifying investors who do what you want to do, and basically backwardly stalk them. Build study case files of success and failure.

Check out what they bought, for how much, how long they had the property, how much the sold it for, the neighborhood, etc, etc, etc.   I've been investing in real estate for over 30 years and to this day I record stalk people to see what is successful and what isn't.  There is alot to be learned from these records and emulating, using successful peoples methods and ideas.  My tip of the day.....YMMV.

I hope you are wrong!  I just signed a lease on a 35 acre plot a land I own the minerals on in Northern Colorado.  The land man told me the break even number was $75 a barrel.  I'd love to see all ten proposed wells deliver me a health check for a few years.  It would help the travel fund.......

I've bought a number of former grow houses in the last 30 years.  The electrical systems had been over taxed, mold and mildew were everywhere.   I've gotten pretty good at spotting people who want to grow.  They are always most interested in the basement over everything else.

Food for thought.  Most of my tenants are low income, working poor people.  In my opinion many of them are where they are in life because of pot and other substances.  Their choice, I only require rent on the 1st of the month and a minimum of care and cleanliness.

RE for me is the long game. Why would I want to take even more potential problems? Good luck whichever way you go.