All Forum Posts by: Jon Lee

@Dan Rogul....DUDE!  There's a whole lot there to unpack.  Private message me and let me know when you can talk on the phone & I can give you your answers & point you in the right direction in less than ten minutes.  That would be a lot of typing to hit all that tonight. ;-)  Hope to talk with you soon!

@Alex Young...go network with wholesalers and rehabbers at your local REIA or Meetup investor groups. Ask if you could be a bird dog for them (someone who finds owners who want to sell or vacant properties). Go find ALL the vacant properties you can, write down the addresses and give them to whichever investor you come to agreement with for a bird dog fee ($500-$1,000 per closed property). That is probably the way you will be able to get your foot in the door in investing. Also...work on your self talk. There is a lot of negative self talk in the two sentences that you wrote and for success; to turn that around is an obstacle you will need to conquer. Best of luck to you!

@Kevin Boyd...understood about the credibility.  There is nothing wrong with saying you are new and this is your first potential deal.  If the number work and you & the seller come into agreement...that's all that matters.  As for getting a tenant....find a good property manager.  They are out there...just might have to interview a few before you find a good one.

@Brittany Sanders....knock out a couple a deals while joint venturing with an experienced investor.  You can rely on them to get the transaction done while you experience the process.  Do a few transactions and your confidence will raise high enough that would wont fell like you will get taken advantage of.

@Raymond Leung...I don't know what your investing model is but if it's buy & hold...right now might not be the best time to invest in the bay area. It could be that you might find better ROI/cashflow deals out of state. That being said...never look at the state of the housing market as "good" or "bad". It simply "is what it is". There should never be fear in the market...just an understanding of how to navigate and acquire property in it.

Also...if you plan to wholesale...it's always a good time to be in the market.  Wholesaling is recession-proof.  It works in both up & down markets.

The most effective ways to find deals off market is to 1) drive for dollars, 2) door knock, or 3) prospect by calling FSBO's on Craigslist.

If you would like to discuss further, private message me and we can schedule a phone call.  Hoped this helped.

@Bill Goodland...Shiny Object Syndrome is something that I STILL have to keep in check.  There are SO MANY opportunities out there that if you don't have proper focus you could get off track.  I literally have a "Shiny Object" tab in my business tracking spreadsheets where I put ideas and opportunities outside of my immediate business focus so I can go back and refer to them at a better time.  Shiny objects aren't inherently "bad"...they are just not the priority at this point in time in your business.

Hey @Amahl Miller.....@Account Closed is right.  It is a perfect opportunity for a subject-to transaction.  You can pay the seller for their equity and you would have the opportunity to hold the property if the payments makes sense and it cashflows OR you can sell it to another homeowner with a nice down payment and you can get a nice profit.  We do it in Vegas all the time.

I would take Ken's offer for the help and take the split.

Absolutely right @Joe Funari....95% of the agents out there don't understand that.  

@Igor A.....I understand your anxiety but it is just a story in your head...a limiting belief.  To get over that, take the action steps that you need to acquire a property and like I recommended before; if you want to experience a transaction without the risk, tag along with an experienced investor while they complete a transaction.  No risk to you AND you experienced all the steps to a deal.

@Mike Moe...your plan is a great start AND find an investor in your local area that you can tag along with during a transaction so that you can get the experience without the risk (& the reward).