All Forum Posts by: Luka Milicevic

I'm not entirely sure what your request here is.

Are you looking for someone to take over your Clarksville LTRs and run them as STRs? 

I just posted a response on your other thread. Please check it out :-)

@Anna Kunkel

Firstly, welcome to the forums. 

You have the general right idea about where you're headed.

I'd say that the websites mentioned such as auction.com HUD and foreclosure.com aren't really useful if you're trying to wholesale deals. Those are useful if you're the actual end buyer. They are similar to the MLS in the sense that anyone can access those deals at any time.

You will add value to the transaction by actually finding a deal that's not on one of these platforms. 

Nashville is one of the most competitive markets right now so finding deals is rather difficult. I stopped doing direct mail earlier this year as it yielded me no results. I had been doing it successfully for about 7 years. It just doesn't have the same return anymore like it once did. 

I would recommend checking out Abram Mitchell's course the Triple M method. He is local. 

I do a lot of tear downs - homes that are beyond repair. 

I've walked into a racoon eating the leftovers in a kitchen. 

The house I live in now, when I first walked it I watched an opposum run down one of the vents. Later found a family of them down there.

Around 2017 I basically had the police on speed dial - had a tenant die of an overdose after about 3 weeks of moving in, had a pipe burst a day after I fully renovated a unit, multiple evictions at the same time. 2017 was a bad year for me.

Starting out, back in 2014 I was doing renovations myself until 2 am sometimes and then going to work in the morning to my W2 job. Weekends I spent painting my rentals and laying flooring. 

Just yesterday I was in a crawlspace to do an inspection and besides the spiders crawling on me I rubbed my neck against some insulation and now I have a pretty rash! 

Remind me why I do this lol! 

I can say it's 1000000% worth it. I wouldn't have it any other way. I love RE and will be doing deals for as long as I possibly can. 

Done

@Sabrina Jack

Please reach out

I wouldn't say it's dead. I just completed one at the end of last year in one of the hottest markets in the country. 

@Engla Farm

I would be happy to assist. 

It sounds like you're trying to wholesale a property off the MLS and you don't have a buyer lined up. I wouldn't attempt to wholesale properties off the MLS as you're not adding any value to the transaction at all.

To answer your actual question- you will request proof of funds or lender letter from you buyer. If you don't have a buyer lined up....then you don't have proof of funds. No agent is going to take you seriously if they can't see an ability to close.

I personally tell my clients that they have to have some sort of proof they are able to close before even making offers. 

If I receive an offer, I expect a pre approval letter or proof of funds. I also call talk to the buyer's agent about their working relationship with that lender to try and vet their credibility so as to not waste my seller's time with someone that can't close. 

Start backwards....

WHY are you here? Why do you ultimately want to invest? "Financial freedom" is not an answer. Why do you want financial freedom.

From there how much is it going to cost to get to your "WHY"

Once you have that you can work from there....

What is the best strategy to achieve your magic number? 

How many of these deals do you have to do by X date to achieve your number? 

Now you know WHAT and HOW MUCH.

Next you figure out how many calls, people you need to meet, marketing you need to do, connections you need to make each year/week/day in order to reach that goal.

You now have an actionable step to get started....

It's a slow journey. Don't expect overnight success with any strategy you pick. Most importantly keep making progress. Keep showing up and keep moving forward.