All Forum Posts by: Joe Krevinghaus

I guess it would depend if you want a chunk of cash or cashflow. You could refinance (no taxes on debt) and use the funds to purchase another rental. While I don't know the specs on your current rental a 3/2 pool home will rent for $1600/mo here easily.

Welcome to BP @Nick Mondell! I've been in the Cape of about 18 months now. Working on a house hack/live in flip and getting my real estate license.

Hello Mark, my girlfriend & I live in Cape Coral. She is an agent and I am in real estate school currently. If you'd like to email her she can get you set up on an auto email from the MLS set to what you're specifically looking for. You can also find her here on BP, Julie Sauter.

I live in Cape Coral FL and I go down to the Lee County courthouse regularlay to pull probate leads. I look for homestead exemption filings which tells me the property in exempt from all creditors and is able to be sold. This is an internal computer system and I'm able to see pdf's of the court docs which list the heirs names and address. I just enter them into a spreadsheet. Then at home I maile merge, print, fold, stuff, lick, stamp and off they go!

@Damir Kamber I found my deal from a realtor off the MLS. It was a bank forclosure that fell out of contract. I used a FL down payment assistance program. Got in for about $1500 out of pocket. Now have a roommate with one more to come to help pay for the fix up. @Brandon Turner would be proud of my house hack :) There are a lot of foreclosures down here that are just wrapped up in the judicial process. Vacant homes are plentiful but not all are accessible (lost in the system). The market down here is hot. Lots of offers in competition, huge demand for rentals (girlfriend is a prop mgr). SFR's cash flow but duplexes not so much, at least in the Cape. Just read an article last week about the Cape ranking 18th for flip profits. http://www.realtytrac.com/…/q1-2015-u-s-home-flipping-repo…/ People want to live in FL. I Moved here in Aug. 2014 for the market but FL is too hot & humid for me. I can't wait to get back to Colorado!

I too listen to the Real Estate Guys podcast and like you @Damir Kamber I was very intrigued by this business model. In the last week I've found a few of these ALF's around Cape Coral FL even one right down the street from my house. I recently bought a "live in flip" and I'm considering doing the remodel with this business in mind. But first I'm off to google to start my research!

Brandon Turner if I sign up for basic monthly and want to upgrade full pro at a later date will I still get the old rates of 50 or 150/yr?

@Mike D'Arrigo I would be very interested in your report as well if you don't mind.

I had a question on structuring a deal and I was wondering if I could get some advice. My dad is looking at buying a house on land contract in Michigan. He is aware of our real estate business and offered to let us take part in the deal to gain some experience. His plan is to purchase on land contract for 60k (house is worth ~100k). It's a 5 yr term with a balloon at the end. Then he wants my sister to take on a 2nd home loan to purchase the house from him (payoff the land contract as he doesn't have the credit for a conventional loan) so she can gain tax benefits and to cash out the equity. Afterwards she will rent it back to him. Would I want to use some type of option form or just an assignment? Any insight would be appreciated. Thanks, Joe Krevinghaus

As most probably know Colorado had some devastating floods last week. With so many home being destroyed I see an opportunity to find some motivated sellers. I was wondering if anyone would have ant insight on how to, if possible, find a list of homeowners affected by the floods. I would like to send out some direct mail pieces to these people with wholesaling in mind. I also have some bandit signs but I am hesitant to put them up in theses areas because I'm don't want to come across as predatory or insensitive. Any thoughts, comments or suggestions welcome. Thank you in advance.