All Forum Posts by: Keith Robinson

See if you can bring a partner on and split the profits after the work is done.  Basically a flip but you own the property already.

@Mark Holencik  I was able to talk to a neighbor.  They said that the property has been empty for over a year and had heard that the previous person living there had died.  They did not have a name or possible contact for who the current owner is.

My next stop is going to be the County Assessor. unfortunately in LA county (the only way I have found) you have to go into the county records office to check this.  Not hard, just annoying.  Unless someone knows a different way.  I am open to alternatives.

It really depends on your financial goals.  Do you want to get rid of mortgage in order to 1) have maximum cash flow from your property or 2) have no house payment?  Get the 15.

Do you want to keep your monthly loan expense low (in order to finance more deals)? get the 30.

It really depends on your goals and view of money.

Happy New Year!

I have been driving around the Palmdale, Lancaster, and Quartz Hill CA area looking for abandoned/neglected looking houses.  I have found some and am struggling to get information to take the next step in trying to purchase them.   

Other than talking to the neighbors, what strategies do you use to find/contact the owner of an abandoned house?

Welcome to the site!  I'm just getting started myself and have been looking allot in the Palmdale and Lancaster areas.

I am very intrigued by rental real estate.  I have been for years.  Like many renters I have talked to, I have said to myself “I should own this place and let people pay me”.

Fast forward and I have purchased a house for my family with the plan to pay it off ASAP.  With my accelerated plan I should be done/debt free in less than 8 years. I plan to buy 1-10 rentals/doors after I have my primary paid off.  It is a very slow plan but the risk is minimized and the Tortoise beats the Hare.

Now I am actively researching buying rentals (Buy and Hold).  I read Building Wealth One House at a Time by Schuab.  I got a huge amount of information and tips from this.  It is a strategy that I could use and adapt.  It covered many topics and food for thought.  I also just finished reading the Ultimate Beginners Guide which I printed out and wrote notes all over.  I have listened to the first 100 Podcasts (skipping some).

Here is the current dilemma.  Do I stick with the plan where I do not make a purchase for approx. 10 years (ish) or do I start looking into lending and have renters pay down the rentals for me?  I know at the end of the day I have to make the decision and both strategies would work.  I am looking forward to being on the forums and hearing what different strategies others have used or if anyone has a good article or blog to read.  It seems like my current plan is in the minority.

Have you used the 100% down strategy? And has it worked?