All Forum Posts by: Jeff Sheraton

There are a lot of variables that need to be considered...

-What are the alternative options?  Is there a better (cheaper money) option?

-Will it cash flow (with the hard money lenders rate considered)?

-Will you be able to put some money in reserves for vacancies and capital expenses?

-ect.

Never for book keeping, but I have used VA's for clerical tasks. Results were very good. The only issue I encountered was that some of my directions were not specific enough. Be sure to give a very specific description of what you want done. I also try to verify the VA understands by having them do a small portion of the project before taking on the whole job. I used Up Work, I was very happy with it.

Can't hurt to look at, if nothing else you will get to talk to a "seller" and get that experience.  I don't do wholesaling, but I found that when buying property directly from owners you can often negotiate the price down when looking through the home.  You can give them you opinion of what the house will sell for and explain how you can solve their unique problem.  Can't hurt to talk about what other homes have sold for when discussing what you think their home could sell for.

I started off with rental properties.  I felt comfortable fairly quickly, it helped having a very experienced investor (my dad) partnering with me.  

The main aspect of the deal that made me feel comfortable was the amount of rent I planned on collecting compared to the relative monthly costs of owning the home.  I thought the purchase price seemed reasonable.  I figured that if it cash flowed no matter if it was a good deal or just an average deal I would be okay.  I definitely learned a lot after the first deal, you will get better and better with each deal.

What is your situation that you need help with?  Have you considered specifically what type of investing you would like to do?

I've had some success using Up Work.  It's pretty straightforward.  I would suggest first posting the "job" for the public to see, make your posting specific as possible.  Then you can look through the freelancers that fit your criteria (experience, price, success rate ect.) and suggest that they apply for your job.  Set it up so that you pay them when the job is completed to your satisfaction.  I have always given freelancers a small task or part of the job to do first just to test their skills before committing to a large project with them.

Does anyone have any creative ideas to prevent copper wire theft?  

We have had a few houses get hit (always while they are vacant).  Thieves will steal copper plumbing and wires.  We always replace plumbing with pex, but we do not have an alternative for the wiring.   

I've considered making something to prevent the electric from being turned off (for use while the houses are vacant), but this seems like a pretty big hazard/liability.

Looking for some ideas of what to write in my direct mail marketing letters.  Would anyone be willing to share what works or has not worked for them?

I am a buy and hold investor.  This is a sample of what I am currently writing, we add the property address into a subject line above this letter (below).  What are your thoughts?

Mr. James Smith:

According to county records you are the owner of the above property. I am an investor and I am interested in purchasing properties in this area. If you would be interested in selling this or another property please contact me. I can make a cash offer and settle quickly.

Feel free to contact me by phone at ....... or by email at ......

Sincerely:

Jeff Sheraton

Sheraton Properties

Under the perks for everyone I should say.

Signed the paperwork today!  They also gave us the option to accept ACH and credit card transactions.  

They gave me a Bigger Pockets discount that waived the entire monthly fee!  @Brandon Turner you guys should consider adding them to the discounts page.