All Forum Posts by: Lisa Kohl

Structual issues like roof sagging and foundation. Mold in crawl space or attic. All of which can be repaired but can also come with hefty price tags.

I agree with Michael Noto- Start attending your local REI Clubs and meetups right away. Become consistent and continue to network. There are plenty of REI lenders out there. If you land a great deal, you shouldn't have a problem finding the cash for projects.

Thanks for sharing! Now you will walk away with more experience and ready to take on the next project. With your project- at least you have a way out. It could always be much worse. 

Continue to network with folks here on BP. Most importantly, start attending your local REI clubs or meetups- be consistent and go frequently, no one want to work with a fly by night investor. That will be your best source of local cash buyers in the shortest amount of time.

It will depend on what kind of niche you're focusing on. Some can be drip campaigns that last for many months. Most importantly you have to test and if you're not getting the responses, you  may need to modify your mailing piece etc

Can't speak for everyone in my area but average numbers look like 65% LTV, 5 points, 12% interest, non owner occupied, 12 month term. Credit will depend on lender.

If your market is hot and your buyer is not realistic I personally would walk away. Your time as an agent is valuable and if you're not closing deals, you're wasting time. 

Here is your states business filing info- looks like it'll run you $125

http://www.state.nj.us/treasury/revenue/filecerts.shtml

A lot of factors come into play, how are your purchasing the subject property? What does your current market look like? What is your time worth? I would say it's a lot of work and risk for a very little return.

I would focus on connecting with an investor friendly agent in those areas as they will be instrumental in helping you find the deals. I'm sure there are a lot of good ones right here on BP that specialize in your key areas.