All Forum Posts by: Ramon Owens

He is right your missining something and thats"Your ROI!" you are buying a property dollar for dollar on a hope that it stays rented.I say go out and find a better deal.But if they sell it to you for .60 to .80 cents on the dollar then you buy a deal like that otherwise calm down and dont be so ancious, there are a ton of deals out there just take your time and pick one.

GET THAT MONEY MAN!

This is a deal but you would need to find out your repair cost and what other problems that you may run into.So before you go to the bank I think that you should take $350.00 and get a "Inspection" done because with old homes come old problems a licencsed inspector can come out and give you a complete overview of what is wrong with the property.After that is done then have a contrctor come out and bid on your rehab job so that you can accurately estimate your cost of repairs.But good job on your first time out.

GET THAT MONEY MAN!

That is not a deal you will be paying out of your pocket the minute the occupancy rate falls.Keep searching or just negotiate a better deal I say bbuy at $485,000.00 and you should be ok.

GET THAT MONEY MAN!

I see that you are just starting off so my advice to you is "Just go out and buy a property" and it is like clock work from there.This is how I started.I did everything that you did and it was a complete "waste of time'.So instead of "looking for customers" I "Became one" this is the best start if you want a deal you have to go out and find the worst looking house that you can find location does not matter either.You may have some rehab cost but consider this "The cost of doing business" after you have completed the work post an add in your local paper that just simply says "Newly renovated house will work with any buyer" and just sit back and watch the vultures come.Where you went wrong is that you did not think aout "who" your customer is it is called your "Target Market" and starting off it is other "Investors" .The "WE BUY HOUSES" market is "flooded" and you dont have the resources to compete first time out.So follow this and you should be good.

GET THAT MONEY MAN!

www.fastsigns.com

This is who I use they have your signs ready in one day.

I really dont think that many "seasoned investors are going to give oue thier resources because remeber."You are the Copetition!" and the scope of this site is only to be used as a simple resource not to make you millions.But iwill give you a small piece of the game."Create your own!" just start off marketing to other investors that you know and then "in time" you will have an entire group of investors comming to view and buy "your properties." so take my advise and invest in your own website.

GET THAT MONEY MAN!

You have a good idea but look at what you set yourself up to fall victum to.You are wide open for agents and investors to flood you web-site and phone.Craigslist is good if you want to post a specific deal but to just put an open ended statement out there is a garunteed nightmare.You will be spending more of your time swatting away flys than working on deals.Why dont you try establishing your deals using signage and simple fllyers in your own town because there is a "Big market" right there in your city and all you have to do is tap into it.You are "Shot gunning" instead of using a more focused approach.How can you be successful nationwide if you have not made a name for yourself at home first.

GET THAT MONEY MAN!

I have 15 newly remodled homes and I got a call from a rep with HUD asking me if I could lease them to thier clents.Is this a smart thing to do?I have herd the rumors on how they tear your property up and just add more coat and i am really not the landlord type. I am more a buy and sell investor I never hold.