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Hi John -

Thanks for your reply and here is my review -

http://forums.biggerpockets.com/viewtopic.php?p=48509#48509

I picked up Wendy's Subject-To / Lease Option book and have found it to be helpful. Thanks for your suggestion.

Rich

In an earlier thread I was asked by another boarder to give my opinion on the new book "Making Hard Cash In A Soft Real Estate Market" by Wendy Patton and Justin Ryan.

I just read the book and found it to be an easy read that had some good information. However I found the book to be a bit light in terms of providing readers with "how to" strategies that I could follow and implement.

The point the authors make is that while many people are leaving the marketplace due to the media's drumbeat of "crashing RE markets" and the increase in market supply, savvy investors should be buying as many good deals as they can instead of sitting on the sidelines waiting for the market to finish its correction. They also emphasize that buying at the right price and having multiple exit strategies is very important in a soft market since property appreciation alone, which may have worked in recent years, is not a viable exit strategy.

They spend a good deal of the book explaining that investors need to invest outside of their own backyards and find emerging markets. While they explain what some of the indicators are that they use to determine what would make a good emerging market, they do not really get into the nuts an bolts of exactly how to conduct this research.

All in all I thought the book was good and it definitely gave me some moments of inspiration of things I can change in my own investing career, however I would have preferred more practical "how to" information versus theory.

This is a book that I believe would be helpful for experienced investors. I have been building my business for just about a year now and am still pretty "green". The educational books that I find helpful for me are more practical and process driven rather than theoretical.

Just my .02 -

Rich

Can anyone suggest to a book that they have read on the topic of purchasing subject to. I am looking for one that provides an overview of the process and also suggests strategies. Ideally I'd like to hear the suggestions from the group of books that they have found helpful, and more importantly, have used in practice.

I know that Wendy Patton has a book on this topic, but I just finished her new one (Hard Cash in a Soft Market) and I'd like to see who else may be out there.

Thanks in advance -

I have used foreclosure.com before and the information there was more current than some of the other well known sites, but must agree with John - get the information locally if possible. There is a web service for New Jersey Lis Pendens information which is cheaper than the other sites and is updated daily.

Does anyone have a suggestion of a property management company for a multi-family property located in Paris Illinois (about 20 miles NW of Terre Haute, Indiana)?

Thank you -

Rich

I dont think there is one magic bullet solution that will get you all the leads you could ever want. Rather it is a combination of many efforts that are focused on the type of properties you wish to acquire. Personally I use direct mail, advertising and a website to get leads.

There were times when I would stop one or more areas of my marketing efforts and I saw an immediate and measurable drop in the number of leads that came to me. Combo is the way to go -

Does anyone have a suggestion of a property management company for a multi-family property located in Paris Illinois (about 20 miles NW of Terre Haute, Indiana)?

Thank you -

Rich

HI Kristie -

Welcome to the site. There is a lot of great information here that has been super helpful. I am a fellow NJ investor (Middlesex/Monmouth County). Where are you located?

You should also look into joining a local REIA - Great education and networking opportunities. Hope to see you at a meeting.

I am trying to come up with an offer on a multifamily and was hoping that some more experienced landlords could help me out.

When you are evaluating a potential purchase, what is the minimum ROI percentage you look for?

Thanks,

Rich DeLuca

Through my website I was contacted by a landlord that wants to sell
his rental property. The numbers he has provided work, but before I
get too involved in the process I want to independently verify the FMV
and potential rental rate of the property. It is located in an area
that I am not familiar (The property is in the mid-west and I am in New Jersey).

My plan is to contact a local realtor, give them the property
particulars, ask them to do a drive by of the property and give me a
BPO. My questions for the group are these:

1- Do you have a better method for finding out this information than
what I have proposed?
2- What is a fair amount to pay the realtor for doing the BPO?

Thanks in advance -

Rich DeLuca