All Forum Posts by: Robert Mack

The estate was sold by an Australian-born leveraged buyout specialist, Gerhard Andlinger.
It was sold to.........TIGER WOODS, he's been on a winning streak, I don't think the economy affects his game or his money....

http://www.nypost.com/seven/03182008/news/nationalnews/65m_sand_bunker_102460.htm

I am actually meeting with my old landlord on Friday to get some advice, pick his brain!... I am going to make up a list of questions for myself so I don't look like a dud when I meet with him... any specific questions people think I should ask?

I have an investor who said he would partner up with me on my first wholesale when I find it and he has a list of buyers.

I understand what you are saying about getting out learning about my farm area, talking with investors and everyone else about my investing. The problem I have... with myself I guess is that I have yet to do a deal and I feel that people won't take me seriously or won't think of me as an investor when a property comes up that I might be interested in or when I contact an investor about a property because I am new and have no actual experience....
:
So.. even though I have not done any deals yet would you recommend:

[list]calling investors to form a buy list and should I tell them I am a new investor with no deals if they inquire at all
Who else should I contact to tell I am looking for investment properties? Mortgage brokers, Agents, Title companies? anyone else?
Should I start marketing in the paper, flyer's, business cards etc?
Should I make an LLC now and website?[/list:u]

I think some of my problem is fear and I always feel like whatever I do is not good enough.. which keeps me trying to get better but can also hold me back mentally...

I contacted a listing I saw online through e-mail because there was no phone listed. The listing was from Jan 30, 2008. I figured I'd ask to see if the house is still available and to my surprise it still is... this might mean that its not a deal but that's why I'm asking you guys for advice...

It's currently listed at $399,000(she said its listed higher on the MLS) and it states that its 15% below market already.. (i know this could be total BS)

The assessed price is 432k, which I know doesn't mean anything towards market value, but isn't the assessed value always less than the market value or am I wrong?
On cyberhomes.com it is listed as an estimate of 491K and the range goes from 442-560K
The person said that all it needs is paint and sanding of the floors which I also take with a grain of salt... (I told her I was an investor)

Also this is listed with a Realtor and it's on the MLS which gives me doubts about if its a good deal, wouldn't other investors have seen it and passed it up?

To clarify, I wouldn't be trying to get the property for 399,000 but for less say 310-320k and I'd probably wholesale it.....

I have never tried this at all... I haven't done any marketing yet as matter of fact because I am so new! and trying to gain as much info as possible.

However, I interned once at a relocation company, SIRVA relocation, and every client we had was atleast somewhat motivated, who owned a home needed to have his/her home sold and needed to buy a new home in their new location OR they were looking for a place to rent....

Wouldn't it be a good idea to contact either there relocation companies or probably a better person would be the real estate brokers who focus on servicing these clients?

We had a network of preferred brokers who we dealt with often and the goal was to sell the house within 90 days MAX and that was stretching it...

I'm actually in the process of setting up a meeting with my landlord when I was renting in college. He has a portfolio of around 9 units which all rent to college undergrads.

All leases I have seen in my college town are 12 month leases, so the summer months, even if unoccupied are being paid for my the tennant. The leases go from June 1st to June 1st (or alittle before to make time for cleanup and such) Also my landlord used a portion of the security for any cleanup needed. We cleaned ourselves so it was not as bad as other I heard but still took a good chunk out.

I was wondering if you would evaluate a rental property the same way in a college town where you have new tennants usually once a year as you would when targeting regular tennants.

In New Brunswick, NJ, landlords do yearly leases june 1 to june 1, and the rents are very high compared to regular rentals to non-college kids. They basically charge 400-500 per person, and squeeze as many people in the house as possible. The houses also are not maintained the best and not of best quality b/c frankly college kids aren't mainly concerned about the look of a house.

Hey Peter,

I was wondering if you talked with your friend at all about the New Brunswick, Rutgers area. I'd be interested to hear what he had to say.

Thanks!

Grandcentral will assign a number to you and when people call that number, it will be forwarded to any number you specify without them knowing. You could have it call your cell phone and business line/home line simultaneously and whichever phone you pick up first that is the line you will take the call on...

Go on the website and check out all the features, they got some good ones.

Does that explain your question PNW?

For some reason, I can't find the tab where it says "invite your friends" They might have taken it down for some reason. You can still sign up and be put on the waiting list. It only took me around a week to get an e-mail asking me to sign up.

If the tab comes back up and I am able to invite friends again, I will invite those who have PM'd me.

Sorry!! :shock: