All Forum Posts by: Rob Gillespie

I bought a property that they left the cremated remains of their loved one. LOL

I had my crew leader take the earn home and put it on his mental. 

Not to mention the TONS of family pictures, new clothes with the tags still on them and toys still in the box that they received for Christmas! 

It is really sad, It is not up to me to judge them. I just hope that many of them get their lives together. 

Hey Rashee, 

I like the fact that you do not let them know you are the landlord. good move!

when they pay late, the court will view that as their new payment date since you set a pattern 

of accepting it after the 1st. I would immediately post eviction notice and not accept any money unless

they have the full amount with late fees. Start holding to paying before  the 4th and handing out eviction

notices on the 5th. Good luck!

Brittney Donathan

Sinking foundation and an unpermitted addition are not a big deal, put some lipstick on that pig and keep renting it and enjoy the cash flow!

I would ditch the property manager and take the calls yourself. Get a cash app or other digital form of accepting payment. Hire a maintenance person to handle minor repairs. The manager will let the tenants make a big deal out of the sink hole. 

Just my 2 cents. 

@James Shen I would start with your local REIA (Real Estate Investors Association)

There are most likely local attorneys in there that are investors themselves and specialize in dealing with Properties and investors. The biggest mistake you can make is to use a family friend or family friend that is an attorney but specializes in something else. I see that quite a bit with new investors. 

That is my opinion where I would start. 

Good luck!

Not a newbie, but welcome to your first post!

Everything you read about works, but nothing works unless you do!!

Get out there and get started!!

Good luck!

Hey Terrell,

Lack of credit should not worry ya .

I personally sell houses with non recourse financing to folks all of the time 

This is necessary when lending into an IRA or 401k.

Some folks use it outside of their retirement accounts though. 

I also partner and offer owner financing to investors. 

I am not the only investor in the business doing this, do not be afraid to ask.

IF you are dealing with seasoned investors, you they can help ya put deals tougher without a bank. 

Good luck!!! You can do it...even without credit!

@Steve Shirk I am not in Cali, however I sell to folks all over the world in the Cleveland market. 

Many of my investors are able to manage their project from anywhere on the globe. 

Utilize before and after pics, lock boxes, video walk though and  Cash App .

You will be amazed on what you can get done over the phone!

@Steve Shirk I am not in Cali, however I sell to folks all over the world in the Cleveland market. 

Many of my investors are able to manage their project from anywhere on the globe. 

Utilize before and after pics, lock boxes, video walk though and  Cash App .

You will be amazed on what you can get done over the phone!

@Wei Mai Clearly this is a 3 year old post, but still just was brought to my attention recently. 

I feel cleveland is undervalued on the purchase of properties, however it offers great rents.

This is quickly changing. Cleveland is on the rise! I still highly recommend investing Cleveland. 

It has been my market for 23 years and have no plans on switching markets. 

@Brandon Rush

Welcome to BP. Great place to ask the questions!

To begin with, you are in one of the hottest seller markets we have seen in over a decade. So not saying you cant find deals, but you will need to look a little deeper .

It is not just about the "lowball offer". You are solving an problem as a real estate investor. Every seller has a REASON they are selling their home. They may not have the time, patients or ability to put their home on the open market. 

Some folks are just plain embarrassed to have their home on the market because they do not want to show the world how they live. They may have liens or debt that they do not want to share with a real estate agent. They may have an IMMEDIATE need for cash. 

I would begin by looking for "situations". Those are typically problems. Many problems can be solved with money. This does not necessarily mean they need full assking for the property, they just need money. 

Find out what they NEED. Not what the value of the asset is. 

Death

Divorce 

Incarceration

Bad tenants

back taxes

behind on mortgage. 

You get the point. Find the reason. market DIRECTLY targeting that reason. Call, Text, Email, Direct Mail, facebook target them with ads, message them on facebook, show up at their doorstep, whatever it takes to get their attention.

I personally get my data for this using Realeflow. I will not put the link on here because I do not want the post to get flagged. I have used many other list sourcing sites and public records to get data as well. 

In my opinion the MLS is like shopping on black friday. You need to wait in line and push over little old ladies on walkers to get to the 1 TV that is only 50 bucks. I would prefer to to be the only bidder in my sellers living room.

Good deals are usually MADE, not FOUND! 

Hope that helps.

Good luck!!!