All Forum Posts by: Jason Hanson

Ulf,

Welcome to the site. Buying and holding properties is the way to true wealth in this business and it seems you already have your goal laid out...congrats.

As Mike said, you are stuck making the payments, which is why you get a good amount of option money upfront.

This is also why you want a 5 year lease option with the seller, so that you have multiple chances to sell the property.

Michael,

1. This is not get rich quick and will take a lot of hard work
2. Network like crazy
3. If you don't do your marketing, you don't make money

Frosty,

The thing that counts is that you took action and purchased a property. Now, I would get it rented out ASAP and of course in the future I would not purchase a negative cashflow property or speculate whatsoever.

As the cliche goes, we make our money when we buy.

Nat,

Welcome to the site. You are correct that one of the best things about being a RE investor is that you have control (most of the time).

Cost per lead doesn't really mean much. You want to know cost per deal.

I don't track it as much as I used to, but it usually costs me around $2,500 bucks to get a deal (direct mail costs)

It all depends on the niche. However, I think it's extremely important to do. For example, my niche is targeting tired landlords and purchasing the property sub-2.

Too many new investors try to do it all (short sales, rehabs, etc.) and they never become pros at one method.

Everyone is right that you need to learn lease options and subject-to. You should not have any bank loans on your credit report (maybe a primary residence) so your DTI never matters.

Clint,

I would also check out the marketing forum on this site. You will learn how to locate motivated sellers and make a lot of money in this market.

Wes,

Welcome to the site. As you know this business is all about numbers and offers. I hope more of those 50 offers come through for you.