All Forum Posts by: Jack Bobeck

@Dan L. Use non-recourse loans. These do not come after you personally, but are tied direct to the property. Worst case scenario is you lose that house, nothing else. I’d go for it! In Jax, we’re at 61% rental rate, and as the economy has grown, more are going to slide back into rentals. The average always fluctuates between 60-66% renting. I see more demand for rentals. Best of luck!

@Elenis C. I’d fix all those items, they seem very easy. Best to keep tenants happy and paying your mortgage.

@Brian Olencki a great real estate lawyer should be part of any investors team. Get with the lawyer and start the eviction process immediately. Also find the best placement agency and start getting applications for the units. Rent is due on the 1st, late on the 2nd, start eviction on the 5th. No mercy, this is a business, not a charity.

@Sarah Buchanan go with your gut. If you feel bad about the transaction, you have the ability to get out and move on to the next deal. There are so many better ones waiting for you, don’t settle on a bad one.

@Frank Wolter why are you buying properties at retail (highest and best) prices? Get out, build better systems to find properties not yet on the market. My wife’s a top Realtor in her company and her city, but I don’t always buy though her. Sometimes deals are best without the use of a Realtor. The sad fact is there are TOO many Realtors now. Too many who think there is easy money to be made. My advice is to find deals without the need of a Realtor.

Go to the Depot, get some greased lightening and spend an hour cleaning it with your client, talking about life and getting to know your client paying down your debt. Best hour you will spend that day. Don't spend money on new appliances for cosmetic reasons. 

Put your 30k to work somewhere else, that zip code leads Jacksonville in homicides, most of the people living there would rather live elsewhere too. 

@Thomas Yip - Why bother looking for nicer streets in a warzone? The banks, the insurers, they all see the zip code and you may have the nicest block in the zip code, but its still treated the same. There are too many nicer zip codes, why bother with warzones? 

Don't do it! The quality level goes to zero when you outsource it. Real Estate is a people business, meaning people do their best face to face. You want people to trust you, call them, talk with them. Get the face to face. A Virtual Assistant, which is what they are reffered to, in my experience are low quality with many overseas operators used. Not worth it, you can do it yourself and its best to speak direct with the same people to get the deal. Best of luck. 

@Joe Lee I plan to write a book about my experiences with Vulcher Capital businesses that bought packages of commercial loans from banks and then extorted payments from the owners. Should be entertaining!