All Forum Posts by: Rocky V.

Pass.  Numbers are to slim and time is limited. 

Why not create a real estate trust?  This requires very little paperwork and no one will know the beneficiary except the Trustee.  I have several and just name them the name of the street 123 Main Trust.  This does provide anonymity.

As an active Trustee buyer - starting bid is very inaccurate and usually only advertised to get people to show up and bid. The mechanic's lien will be wiped out but the HOA lien may stay with property. Trustee's will usually not give you any legal advise. I would definitely attend the auction and take notes.

If you are willing to lose that $5K, then go for it.  Many sellers do not realize what liens are on their property so you may be offering less than what is owed.  I would personally entice them with showing them the money but only hand it to them once you know for certain that title work is OK as an option fee.

Thanks for the laughs and glad you kept your cool.

Perfectly good for a rental.  May consider painting for a fresh/new look.

As a contractor I will not visit a property until it is under contract.  I do tell my clients to send pics and I can give them a general idea of what the numbers are.

I would recommend having a better understanding of cost/ft on certain items i.e. paint, flooring, etc.  This will help you in preparing an offer.

VPF (vinyl plank flooring) the entire home.   Cleaner look and last much longer than carpet.

See you there @Adam Wright 

Something to think about in any business is - Do you own that business or does the business own you?  I choose not to grow my construction co. because I would still have to put in a lot of my time and effort in order for it to run smoothly.  However, my rentals require very little of my time and give me true freedom and this is why I continue to pick up rentals.  If a restaurant is selling at $350K with the owner netting $250K there has got to be more to the story.  If you have the cash and time I would consider a mixed portfolio.  You never know you may enjoy owning a restaurant.