All Forum Posts by: Joe Ferguson

Have you considered cash for keys? Sometimes offering a few hundred dollars is enough to entice them to get out and usually leave the unit in one piece. Much cheaper and less time consuming than the eviction process. 

Often on the weekends I find myself driving for dollars which amounts to a decent understanding of my area geographically and about 3 or 4 hours of BP podcasts (still a win). This is because I am looking for 2-4 unit properties that are severely out numbered by SFRs which are currently of no interest to me. I have gone out and not seen a single property. They tend to be in small groups of 2 or 3 which is what I see most and on occasion you stumble on those larger groups. The ones I do find usually do not look vacant or if they do are not distressed.

I am aware that the odds are against me as they simply exist in smaller quantities and are highly sought after but are there any unique strategies for tracking down those multi's when cruising for cash flow?

Thank you all for the warm welcomes and recommendations. I will be following up. I really should have got involved sooner and started networking whether I was ready to do a deal or not. Fear is a funny thing. I suppose with no money for a deal and limited knowledge, I wasn't sure what I had to offer (still not). Admittedly, my posts will be primarily comprised of questions for a good while :)

Mark J. - Thanks for the reply and support. Not much from beyond the keyboard besides obtaining my license and driving for dollars every weekend, if those are even considered taking action. I am definitely ready to buy so this week I will go talk to some lenders and get pre-approved. I am also joining the TBREIA and going to first meeting very soon. 

Shane Odom - Thanks for your kind comments. Nice to meet some locals who are in the game. 

Hello BP, 

I guess it is about time I come out of my analysis paralysis, take action and join the community I have been spying on for so long. I am a full-time Electrical Engineer who has spent almost every free moment of the last 8 months studying Real-Estate investing while saving for a down payment. I have always been interested with spurts of serious study here and there but didn't fully commit, become obsessed really, until 8 months ago. I believe I have obtained a great foundation of knowledge through many books, many many hours of Bigger Pockets podcasts, blogs and forum posts as well as the process of obtaining my Florida Real-Estate license. It's funny, I have rented my entire adult life (never had a mortgage) and have always thought "Whoever owns this building ........ well, they are set for life". What's keeping me from doing this?

With the ultimate goal of quitting the W2 job and transitioning to full-time investor, I have adopted a buy and hold strategy aimed at generating maximum cash flow. With little capital to start with, the plan is to start with residential multi-family and slowly but surely work my way up to commercial apartment buildings. I am actively searching for my first deal which will be a house hack using a FHA or 203K depending on the amount of rehab needed. A quick visit to my profile and all motives and goals will become clear, perhaps too clear :)

That said, I really look forward to interacting with all of you, continuing to learn from you and hopefully providing value where I can to return the favor. My goal is simply to get out of my comfort zone and begin to build a network and who knows maybe even some friends in the process. Being that this is my first post ever, I would like to say thanks to all of the active members of this site. The knowledge you provide to us newbies is invaluable. Also, I think it goes without saying.... Brandon Turner and Josh Dorkin, you guys rock!