All Forum Posts by: Paul Hitchings

What about wholesaling is so attractive to you vs. other investment methods? 

Best thing I can recommend is face time with fellow investors. Here are the meetups results for a "real estate" keyword search within 25 miles of Trenton NJ. https://www.meetup.com/find/events/?allMeetups=fal...

 I don't, but in Southern California, they can be found in lower-middle to lower socioeconomic areas on telephone poles and often at freeway off-ramps  My favorite iteration is when one company puts their sticker with a number on someone else's bandit sign :)

How familiar are you with running comps?

You will get tired of that drive very quickly. Find something closer or rework the numbers with a property manager. You are investing to improve the quality of your life right? :)

Make it just a little nicer than other comparable properties. You want your home to have a few extra things that other local comps do not have. That will help with the appraisal.

Try calling a few architects.

Just watched a video on BP about converting an old hotel into Studio apartments. Something to consider.

As far as hotels, just go to yelp in the area you want to invest in and find the hotels with the worst ratings. Then write the owners (find their info from local county office) and tell them you want to buy their building (or you want them to seller finance it to you) and go from there.   I say the worst rated hotels because the owners might just be sick of owning them. For added ooopmh to your letters, get pre-approved for a multi-million dollar loan to purchase a building and include an actual price amount in the letter. When they see that number, and your letter, their money gears will start turning.

Find out if it is legal to rent the unit.  Contact a local attorney. Then report back :)

Double check with local police station if owner can report brother for trespassing. 

Is the seller willing to start an eviction proceeding on her brother? Will she just "hope" he moves out at some point? Maybe you could give her a good referral to an eviction attorney? If you just tell her "you should find an attorney" it might be too much for her to handle. If you give her a phone number and tell her the attorney gives free consultations (not sure if you can find one that will?) it will be easier for her to act.

It also seems obvious the brother needs help either moving or selling the vehicles. This could be hard since he obviously seems to be "collecting" cars.  You could help him with selling the vehicles by contacting some local clubs or shops, but that plan doesn't work unless he is ready to part with them. Bonus points if he has a few nicer vehicles worth something. I suspect in his situation, if people start knocking on his door with cash, deals will be made. Probably best to get his permission before becoming his garage PR rep. You might even get pictures, year, make/model so you can demonstrate a little value during your promotion.

Further, you might concern yourself with where the brother is ultimately going. Can he afford rent somewhere? Is he going to be evicted into homelessness?  The answer to these questions will help both you and the owner accommodate the brother during his departure.

Definitely a sensitive situation. As a bystander, you are limited in your ability to influence the outcome. You are a coach leading a volunteer army.

Good luck and keep notes :)