All Forum Posts by: Obed Calixte

Well, what happens next is someone like me get's that report of a $650k+ home being sold at auction for $400k. And being that seller has 6mnth redemption right's in MN, I then contact the person who holds that redemption right. And rather easily i strike a deal, gaining those redemption rights for a cost under $100k. And than, I redeem the property.

You than get notice of all this, of the property effectively being "stolen" right from under you, and you say "what the heck, no way". So contact lawyers and what not just to find there isn't a darn thing you can do. And, in end, all you did was set my profit for me, thank you.

Because now I swopped in last minute, with limited time, energy, effort, and snagged a deal that I'm just going to throw right back on market at $625k and let offers fly, accept $650k'ish, and giggle the whole way to the bank.

That my friend, is the reality of how it goes.

This is why it's a fantasy that one can simply show up to auctions and make $ like it's 2009. That world simply does not exist any longer.

Wow, what a cold world! But I enjoyed reading that scenario - very strategic.

1 Vote

Minneapolis, Minnesota

A big piece of dealing with the analysis paralysis for me was getting a deeper understanding of myself and why I had the fear.

Some thoughts to consider:

What is your true goal/motivation in real estate?

And then identify what your skills currently are, where are you strong and weak and then align them to what the market needs.

If you have a big fear of losing money, then fix and flip will likely keep you up at night. Look for other opportunities via networking and engaging in the forums.

Some general examples of marrying your skills to need:

Do you love face to face interaction? Door knock and do wholesaling

Are you good at or have a willing desire to do sales & marketing? Be an agent (listing specifically)

Great at analytics, visuals and garnering insights? Consider commercial analyst

Skilled and/or handy? Offer your services to mom and pop or PM companies

Looking to get a taste of REI but not quite yet? househack

There's many ways to get your foot into the REI door. The biggest is getting exposure to the people doing it and learning from them to shorten your learning cycle.

1 Vote

Tampa, Florida

Yup - I consider downpayment, closing costs, rehab (if not rolled into loan), furnishings into the denominator.

0 Votes

What are your goals for the property?

There are deals in every market whether they are overvalued, oversaturated etc. It may take a little bit of time, hussle and creativity to find the one for you, but it is out there.

2 Votes

Miami, Florida

Leverage the Florida Realtors Legal Hotline

0 Votes

Saint Petersburg, Florida

If it's a 401K through his employer, his HR company can detail limitations. Generally they cap below the 50K max.

If it is self directed, he will need to contact his custodian for rules. Generally it is 50% of balance or up to 50K -- whichever is less.

0 Votes

Gutters are worthwhile to have in Florida, especially if you have water pooling near the home's foundation.

In regards to adding value to your property - I have not seen that noted on or change an appraised value.

1 Vote

Jacksonville, Florida

Reads like an interesting opportunity.

Did you have a question, seeking commentary or were just sharing your thoughts?

0 Votes

All Forum Posts by: Obed Calixte

Obed Calixte has started 0 posts and replied 305 times.

Post: Moving to Tampa to Start my Rental Property Business

Post: Tampa or Orlando That`s the question

Post: New construction forclosure auction

Post: New to REI. Nervous, should I get training?

Post: Is this right?

Post: The Miami Market is Overrated?

Post: When can a loan officer who is also a realtor work on the same transaction?

Post: 401k Down payment

Post: Should I install gutters

Post: 20% down on new construction, pay 80% when building ready (3-4 years)