All Forum Posts by: Jay London

I think I would find a new fantasy football league without him in it. If he's finding you good deals though I wouldn't burn that bridge just keep him at arms length for the deals.

Michelle I could be completely 100% wrong with this but I was told a few years ago when I was doing some investing in Dallas that L/O were illegal in TX. I don't know why that came to mind when I read your post. I have several buddies doing Sub-to's but don't know anyone in TX doing lease options. Like I said I could be dreaming also. Been awhile since I done anything in TX.

Hope I'm wrong.

Jay

I've done both Tim. $1.4 residential development and custom homes. 

Won't work on my android either.

In the late 90s you could by VA repo for 0 down and 100% financing from OCWEN. My first year I bought 10 repos. Those were the good days. Non of this Frank Dodd crap and you could own as many as you wanted on your personal credit report. By 1999 I had 21 mortgages on my credit report. Then early 2000s sub-prime began and I couldn't rent. Anyone with a heartbeat could buy. I wanted rentals for cash flow and retirement. Looking back I should have sold everyone, took the equity and started over buying and holding after subprime was over. Ended up losing them all. Lessons learned.

So to answer your question Scott. Most of mine back in the day were MLS. I still look at the MLS daily but that's were most of the rookies hang out. You can get a good deal every once in awhile but you have to act fast. I send out about 500 mailings per week to off market properties. My goal is 10 for 2017 owner financed.

Good luck and happy new year

Is there a meeting in Jan?

Thanks Michael. I've been a member of BP and in the RE game for along time now I just don't do a lot of chatting on the forum.

I've personally been to Kent's home in La Jolla, CA. I consider him a good friend.

His programs work!

I used his program to find private lenders and rehabbers. It worked no other way to say it.

If your busy and don't have time to do the bird doggin just use his system and you'll be doing deals in no time.

You'll never accomplish anything is you don't take action somehow............

I appreciate it Nick but I'm pretty much a control freak and like to keep it close. I know my market well but don't know any other.

Good luck with your ventures.

It's real simple. Anyone can put lipstick on a pig (flip and rehab) but new construction requires a little more expericance with building codes and a working knowledge of the entire construction process.

I flipped houses for 7 years before I started building. I'm a fulltime home builder now and still love to chase the flip every once in a while. As Mana said though there are no hidden suprises in new build like there are in flips. Average build time is 4-6 months and construction cost runs $85-$95 per foot with a net profit margin of around 12-15% is what the builders make. I build about 25 a year and it's all I want. One thing I will say about new construction. I (myself) feel that new construction is a lot more stressfull.