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All Forum Posts by: Jade Davis

Jade Davis has started 19 posts and replied 140 times.

Post: Please Help!!! Expanding fast and need some guidence

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

I came to read as a newbie because you said you're expanding fast. Congratulations! I have no words of advice as I am quite new to REI however I love to read about others success.

It sounds to me like @Aaron McGinnis is pointing you in the right direction.

Post: Wholesaling

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

Craiglist is one of the many great ways to find leads for motivated sellers as well as for buyers when it comes to wholesaling. You can purchase lists of leads from places such as ListSource.com or can go down to your county clerk and ask for the lists. You can also place bandit signs (which is not legal in many counties so you will need to check your counties oridances). This is just the tip of the ice berg. Good luck.

Post: Looking for wholesale leads

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35
Originally posted by @Brandon Howliet:
Originally posted by @Robert Laird:

Brandon,

Another method you might want to try is direct mail. You can order postcards or yellow letters from various websites online for cents on the dollar. This seems to be a more effective marketing strategy for lots of people. Mostly because it gets the paper in a persons hands with out having to drive door to door. You can get lists of addresses from title companies or other data providers as well. This will help get your name out there. Hope this helps!

Rob

 I'll give it a try. I need to find some affordable list providers, though? Thanks!

Listsource is a popular one however first, you should try and find the leads yourself. It will be time consuming but at least you will have an appreciation for the process and WHY you are willing to spend money to get the leads rather than find them yourself. Sometimes the information is available online and sometimes you have to go down to your local clerks office.

Post: Winter time

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

Well if your campaign has six touches (i.e. a yellow letter first then a month later a post card then a month  later another yellow letter) and you have your first touch in December, you'll see results around Feb-March when the weather is getting nicer. IMO, it's the perfect time to start.

Plus... Holidays are coming, people need money. Who knows, maybe they'll be more likely to sell to you.

Post: Smoke Alarms- Who is responsible?

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

What @Mary B. said. Honestly I find a landlord who wouldn't take care of that him or herself to be kind of sketchy. That most certainly should be your responsability IMHO. You check them (batteries should last six months) and you replace as needed.

Post: Best time of year to buy rental property?

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

When their isn't snow on the ground for starters....

Post: Am I obligated to compensate tenants?

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35
Originally posted by @Steve Babiak:

Anybody ever hear of this thing called "renters insurance"?  I hear it is supposed to take care of such matters, and that is why it is required (or recommended) by many landlords. 

Hahaha. Yes, this. This is great. 

Post: Balance of Loan from Wholesale Deal - Who Pays?

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35
Originally posted by @Roland Paicely:

The balance is paid through the proceeds of the sale.  Otherwise the sale cannot happen and title cannot be transferred.  Example:  If the buyers is buying the house for $180K.  She will bring a check to closing for $180K.  From that the closing agent will send $150K to the lender so that the loan can be paid off.  This of course is the simplified version.  There are other parts to it.  But that's the general idea.

I learn something new everyday. Good question.  

Post: Tracking financials in wholesaling

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

@everyone thanks! 

Post: What makes more sense- duplex, triplex or quads?

Jade DavisPosted
  • Syracuse, NY
  • Posts 143
  • Votes 35

I am no pro around here so I can't say for sure but it seems to me that (at least in my area), SFR are the best investments. Another local investor at a meeting said that when someone or a family lives on a home on their own in a homw their more likely to treat it with care and respect because it is less like an apartment.