All Forum Posts by: Mindy Jensen

Welcome to BiggerPockets, @Fran Dratch.

You didn't share the name of the person selling this software, so I can't say if they are a good deal or if they deliver on their promises. However, I can tell you that this sounds like a guru course - it has all the similar strategies. First course free. Second course a small amount of money. Third course/software/books/DVDs more money. 

There isn't anything wrong with paying for an education, but many of these gurus don't deliver. I would do a search of BiggerPockets for that particular instructor's name to see what other people say.

You can learn everything you need to know, right here on BiggerPockets. Real estate takes work - there isn't anything you can buy that removes that aspect of real estate investing. BUT, if you set up your system correctly, and spend the time in the beginning, it isn't that much work down the road.

Welcome to BiggerPockets, @Michael Rambo.

You have some education, you own a small construction company. What do you think is holding you back? What sort of construction do you do? 

You say you want to wholesale, perhaps a house flip would be a better way to start? You have the construction company and, presumably, the construction skills to make a flip happen.

If downpayment/rehab money is the holdback, perhaps a partnership would help you get over that hump. 50% of something is better than 100% of nothing. 

Read the Real Estate Success Stories forum - So much inspiration there!

Congratulations on your purchase! 

Read up on tenant screening before you put someone in there. Here's How to Screen Tenants and How to Rent Your House. It is far better to have it empty for a short period waiting for the right tenant, than to rush to put anyone in there, and then have to deal with eviction and repairs.

Good luck and welcome to the US! Wine Country, CA is a great place to live!

@Account Closed I wouldn't waste money on an appraisal right now. If you are getting financing, the lender will get an appraisal (that you pay for, of course) after the home inspection pans out. Why pay for something you won't end up needing. That is one of the last things to do before closing.

If you are looking at wholesaling, finding properties and building up a cash-buyer list can be done at the same time. 

In the meantime, browse BiggerPockets and read all you can about wholesaling. There are articles in the forums and on the blog. Here is a forum thread about wholesaling podcasts.

Thanks, @David Hunter. A great tip. Let's get everything online. I see so many notes in the Broker's Remarks saying "include the LBP disclosure, but there isn't one uploaded. 

Sigh...

Welcome to BiggerPockets, @Daniel Monserrate.

I would suggest narrowing down your field, at least at first, so you can focus on one aspect of real estate investing and learn that before jumping into the other ones. 

Have you networked with any local investors? Attend a meetup or an REIA clug meeting. Set up your keyword alerts to include at least one with your local area.

Well, @Account Closed that is a difficult question. Good deals happen when they happen, they don't operate on any particular timeline. You could find a great deal tomorrow, you could go a month without finding anything even worth analyzing. Once you find a deal, 9 more could come knocking on your door. I wouldn't put a deadline on finding a deal. 

Finding the deal is only the first part. You still have to pay for it - do you have financing lined up? If you are thinking about a mortgage, what does your credit look like? 

Since you are a newer investor, I would strongly suggest any property you buy should have a home inspection so you know the state of the property. Do you have a great home inspector? Start looking for one. In my area, 9 agents all recommended the same guy - that's who I go with.

How are you finding these deals? Do you have an agent? Have you driven around your target area to scope out houses? Write an awesome yellow letter to send out to houses that look like something you want to buy.

Are you looking for something to rent out? Do you have the systems in place to handle the rentals? PM or self-managed? Are you handy or do you have a handyman at the ready? 

Are you looking more toward flipping? If you aren't planning on doing all the work yourself, start the long process of finding a contractor. 

Attend a meetup to network with local investors. 

Having deadlines and goals is awesome. Somehow, having it in writing makes it more real. 

Welcome to BiggerPockets, @Account Closed. 

An appraiser/re instructor? You should make a LOT of new friends here on the site.

Have you set up your keyword alerts yet? Reserve at least one for your local area, to keep up with conversations and connect with investors in your area.

A few things about the site. We have these forums that you have already found, but did you know that we also have a blog? Written by investors much like you, they share their experiences and ideas.

Take a little time to poke around the site. We have a top-rated Podcast with new episodes every week. 

Welcome to BiggerPockets, @Randy Perry.

Have you set up your keyword alerts yet? Reserve at least one for your local area, to keep up with conversations and connect with investors in your area.

Take a little time to poke around the site. We have a top-rated Podcast with new episodes every week.

I showed a house today, but only after emailing the listing agent, then calling him, and finally calling the office to ask about the Seller's Property Disclosure. 

Backstory, my area is super hot, and any property sitting on the market more than 10 days has something HUGE wrong with it.

My clients found this property and asked to see it. I set up a showing and while doing research on the property, opened the SPD. Imagine my surprise when I read the "Other Disclosures" section and saw the seller had checked YES to:

Property was previously used as a methamphetamine laboratory and has not been remediated to state standards.

Wait, WHAT?!?

I do not wish to enter an unremediated meth house, nor do I want to take my clients through a house like this. It seems to me this sort of thing should be included in the Broker's Remarks!

Anyway, the receptionist at the listing office was able to get in touch with the seller who said that was a mistake on her part. 

The showing didn't go over so well - there is a reason it hasn't sold yet. Some potential foundation issues, weird yard layout and just about the least attractive kitchen ever add up to an odd duck. The foundation issues make me leery - the rest are easy fixes.

Anyway, I just wanted to give a heads up - Double check your SPD before uploading it to the MLS. Ask the seller if they really mean to say it's an unremediated meth house!!!