All Forum Posts by: Randy Duke

@Chris Schuler I live in EP, I can tell you anything south of Cleveland ave. in EP I do not care for.

I did not see where I could report an issue on the website, but I have used the flipping calculator in the past with no problems, but now after you enter all of the information into it and click on calculate it does nothing even after 5 minutes.

The down side of using New western is that once you sign the contract and give them the earnest check you have no due diligence period and because the market is so hot now if you postpone signing the contract until you do your due diligence the property is gone, most properties don't last a full day, for that reason I think they are more suited to full time experienced rehabbers.

Thanks folks, it seems like around here all of the properties offered at discounts have at least one negative attribute that none of the nearby comps have, I have been investing in a transitional area with a mix of owner occupied SFR with pockets of MFR, prices can wildly very from one street to the next in the same neighborhood that is comprised of homes built in the 50s and 60s.

When looking at comps how do you know how much to add or subtract for certain attributes, for example if the subject property has a sloped driveway or unleveled yard but the comp properties do not, or corner lot vs non corner lot, subject across from multi-family comps not and so on.  

I had two rentals there, and sold one.

That's true, It is a vacant brick home with tall grass, and would like to know before I send letter.

How do you determine value when there has been no recent sales and no current listings?

The subject property is located on a state highway and there are about 30 homes within 3 miles on that highway, but none are listed and none have sold recently, there are some sales in a subdivision nearby, but I know they can't be used. 

I agree with most on here that BP has a lot to offer that is free of charge or low cost, the big gurus will suck you in and keep taking your money, and although I think they do teach along the way it can get expensive as it seems like each seminar you go to they try to up-sale you on the next niche, Don't get me wrong there is nothing wrong with generating multiple streams of income, but for the student it can get expensive and most of the gurus underplay how much work and stress it can be, so for that I think they could do a better job at not misleading people into thinking that it is a get rich quick scheme.

It is a huge turn-off when I see an infomercial for one of the gurus and it start out by showing him drive-up in a $200,000 car and then show all the checks from the escrow companies where they got paid and show 4-5 testimonial of people telling how easy it was, not once did they show the 90% of they student that did not make any money because they did not understand going into the seminar that it was not as easy as they were led to believe in the infomercial, the guru will tell you that you don't need any money to start, that is not true even if you do wholesale you need marketing money and that can get expansive.

So I feel that if someone thinks that REI is for them then start with BP, read all the free stuff here that you can and put that into action and you make some money and want to stick with REI, and you still want to see what the gurus have to offer then go, at least you will have enough knowledge to know when they are trying to separate you from your money with nothing in return.

Thanks Jeff for you feedback.