All Forum Posts by: Tony L.

Welcome Hal, I'm sure we'll communicate more in the future.

Tony

Seller is not obligated to provide any inspection of the property. They probably would rather sell as-is, where-is. It is generally the buyer's option to request an inspection when buying and they pay the costs. Be careful who you select as an inspector. There are many out there that do not perform a good service, due diligence!

Tony

I thank you too Josh. Having good exchange with several of my new forum friends. I helping a great deal on making some decisions for 2009. Thanks again.

Tony

I'll second the need for an inspection although if your qualified to perform the inspection yourself go ahead. What's your exit strategy if you decide you don't want the home after looking at it? Always need some kind of exit strategy!

Tony

Pocket Listing! Now there's a term that stirs up discussion. Yes, Realtors do have properties that they know about but they are not termed Pocket Listings as they really do not have a listing. They only know of a property that an owner may sell for the right price, reasons, or what have you. As a Realtor myself you do no service for a property owner buy not listing their property. In fact the broker of the agency the agent works for really does not appreciate their agents holding back on listings. The owner has not legal reason to even work with this agent. You as a buyer also have no representation unless you hire an attorney or get yourself an agent to prepresent you. I could go on and on about this topic but the bottom line is that pocket lists as such are generally no better deal than MLS listed properties. If you really want to find RE bargains find a community you get familiar with, have a title company provide you a report of property owner 65 years and older that have been in there homes more the 10 years and begin mailing an investor letter (you can write or use another investors letter) explaining you are an investor looking properties like theirs that compliment your portfolio. There's a lot more to the letter but you probably get the meaning. Before you strike up any deals you should have already built your team of experts (attorney, inspection, lender,etc) that can help you with the purchase. I'm done for now as there is just not enough time to convey all this in this format. Good luck and success,

Tony

If there is no real estate agency used in the transaction suggest that you hire a Real Estate Attorney to process through with the lender. They will work for you and no one else, always good to have protection or it could cost you $$$$. Would also suggest a full home imspection as the fee is well worth it. Not saying there is anything wrong with this home your considering but even new homes have been know to have problems. Have the attorney draw up the RE Contract, he/she should know what to draft that will protect you. I have practiced as a real estate agent since 1977 and believe me you should always have qualified representation (i.e. Attorney), there is just too much to know when it comes to purchase real property.

Tony

There is a program I'm seeing here in the Puget Sound Region for storage units that are for sale. I'm sure it's throughout the nation though. Seeing storage facility units being built with the individual units for sale, just like a condo setup. You own a percentage of according to the number of units you purchase. Pricing is resonable and is just about the same process as buying a home. My thoughts are to aquire the land and build units for sale rather than owning the project. Any thoughts on this?

Tony

Any thoughts on buying an existing storage facility vs building one?

I'm with you Fred. Have not been a member long but really do enjoy the site and the response to my comments.

Tony

I've been following emails from this guy on Storage Units. Here's one of his mailings.
"We continue our discussion on...

Why is self storage where you should be investing your time and resources as a real estate entrepreneur?

Here the next of the Top 10 Reasons For Self Storage;

But first consider this...

My father latched onto his first gold mine when gold was selling at $35 an ounce. Today prices for gold are more than 20 times that amount. But when you get in early, you enjoy the wealth that comes from price inflation. That's the key.

There's a similar story going on today in self storage. The demand for self storage has been rising exponentially. Roughly half of all the 23,000 self storage facilities have been built in the last 7 years. But the growth in demand is only starting its rapid climb upward. In the coming years as the Baby Boomers get set to retire, move, travel, downsize and/or buy 2nd homes, the need for self storage will absolutely skyrocket. Why? Because what do you need when you move, travel, downsize or buy 2nd homes? Storage!

Studies done by industry experts indicate that 40% of the 77 million Americans who will be retiring in the next few years, will move and 50% plan to travel. And again, what will these 77 million Americans need who plan to move and/or travel? Self storage!

Mind you, these Baby Boomer retirees have $2 Trillion in purchasing power, so don't think for a moment that they won't be buying lots of stuff and needing lots of self storage.

If you'd like to learn more about self storage, I've attached a free training audio. Just click http://www.uslandco.com/video/storage

As you'll see (when you click through to that link), to get involved and to be investing in self storage, you won't need cash, credit or pull. You can start today! You can learn how to pick up these high cash flow properties right away.

Want some more good news? It's a no toilet - no carpet - no eviction - no hassle type business. But I'll save that for one of the next installments of our Top 10 Reasons For Self Storage. For now, click http://www.uslandco.com/video/storage and pick up some more information that we have waiting just for you.

Now's the time. Don't miss out on this great window of opportunity. This could very likely be the perfect business for you.

See you at the top!

Yours for Profitable Investing,

Lee Parker
U.S. Land Company, Inc.
Cutting Edge Resources for the Real Estate Entrepreneur"

Do any of you subscribe to U.S. LAND?

Tony