All Forum Posts by: Paul Winka

I am curious what those numbers would be for Detroit south of 8 Mile Road. :)

Great hack about online services. I never even thought of that. What's your preferred online title company, Wayne? 

@Wayne Brooks Maybe I need to change my mindset. I think of the the title search business kind of like ordering burgers at McDonald's--no freebies, even if you eat there each day as a good customer! 

Is it reasonable to introduce myself as an investor in a title company I have not dealt with and promise to close with them, pay a "retainer" to show I am earnest about it, and in return they'll run a title search for a dozen or so properties? 

I remember hearing on Tom Krol's podcat #176 that there are certain title companies that will research a title for free for wholesalers, investors, etc. The idea is through this free service, the investor would close all the deals through THAT title company.

Is this total bunk? 

I see this is an older post, but you can see what is driving the cost of your lists before you purchase that list. The good news is that from what I have gathered in the last 24 hours learning all I could about listsource, what we need as investors shouldn't be too expensive. 

For example, in this screen shot, you can see that for 163 leads, I would be paying $0.14 per lead, so 163 x $0.14 = $22.82; adding in some other stuff, it comes to around $30. 

On the left side of the screen you can add items a la carte. On a lark, I added the "full ARM package" which is $9.6075 per record, changing my total from $30 to over $1500. That must be good information for someone that needs it at that price. FWIW, when I looked at sample data for what the full ARM package offered it revealed useless data.

Yes, I see what you mean. Trulia has different output standards for each city, some with more information than others. Lakeland, FL has sales data while Forth Worth does not:

http://www.trulia.com/real_estate/Lakeland-Florida...

http://www.trulia.com/real_estate/Fort_Worth-Texas...

The only thing I could find was the average listing price per area. For some reason the sales prices are guarded: http://www.trulia.com/home_prices/Texas/Fort_Worth...

Since it seems that it is more of a seller's market lately, the listing price and the sales price are probably quite similar. Did you find your data, Justin? 

Thanks! I don't know how I missed that now that you pointed it out. 

@Ned Carey

Thanks, that's what I thought too about annual rent x GRM = Price.

So is the calculator on BP not working right based on the image I sent? 7.38 doesn't make sense to me still. 

@Rich Hupper

He means that you would buy it at a discount at the outset, thereby having equity in the property on the first day of ownership. 

If you watched Good Fellas, you'll know the gangsters there had total equity in the booze and cigarettes they stole. They could sell those goods anyone for below market price and still make a hefty profit. :)

@Immanuel Sibero @Ben Leybovich @Joe Villeneuve @Ned Carey

Thanks for the replies. What I am taking away from this is that the purchase price is a function of the rents for commercial property, and the price I should be willing to pay for a commercial property can be "reverse engineered" using typical cap rates for an area and the NOI of a property. While a 1-4 unit place has a price that has more to do with the quality of school districts, curb appeal, etc. Is that right?