All Forum Posts by: Jon K.

I have in the past but quickly determined it wasn't for me, nor did I want to run a call-house. I've been doing well with direct mail for a long time so that's what I stick to these days.

I understand the urge to want to help someone, but it's a business and you should treat it as such. In the future, don't allow someone to live in your property for free. Start the eviction process as soon as your lease allows for it for non-payment the first time they are late. If they are able to catch up, great! That stops the eviction. If not, you get control of your property back so that you can re-rent it to a paying tenant ASAP.

Small, local credit unions.

You should target the neighborhoods where your buyers want to buy.

You're absolutely right, I was being (not) funny. I've had a HELOC balance for almost 5 years because the rate was so low that I just kept reinvesting it. Of course now it's close to 10% so it's definitely time to pay it off.

What if your HELOC is at prime + 3 and prime is next to nothing for years thanks to a global pandemic?

I start with my minimum cash on cash return requirement, then work backwards to determine what my max offer amount will be to purchase the property (using the BRRRR method). After that I try to get the best deal I can but at least I know the absolute max I can pay and still hit my desired return.

I've outsourced as much as possible over the past 6 months, preferably to folks that I don't have to teach. I've hired bookkeepers, property managers, project managers, and even partnered with someone to handle all of my inbound leads (they handle it from initial call all the way to disposition). I'll continue to do so but right now my active monthly "REI" time, outside of networking and BSing, is down to like 3 hours and I've never made more than I do now.

Depends on what you mean by public use. A lot of folks use services like www.propstream.com but there is a monthly fee. If you're looking for free resources, there's always sites like www.zillow.com.

I don't think I've ever seen a better brand than your yellow shirt. I stopped scrolling just because I recognized it before I even saw your name. I recently bought your book on buying mobile homes as well, great read.