All Forum Posts by: Ryan Blake

@Richard Potts My advice would be a retraining order/trespass order from the courts because of the destruction to the property. Typically you would start with a complaint filed with the local police and they should be able to help escalate it.

Good luck.

@Craig Ward I am happy to not be in your shoes. I agree with some other comments on here. Give them a couple weeks and then have a new lease drafted for them to sign with their own names on it or help them move out.

@Jason D. Who said I was offering $140k??? I said the retail value is $140k. I don't pay retail for homes. I am probably going to go into this offering around $80-90k.

I don't wholesale either. I keep my own leads unless they are way out of town and I just birddog it.

@Thomas S. Hahaha. Best answer to anything I have seen on here! Thanks man. Now when I meet them I am going to be looking at their mouths trying to count.

@Thomas S. Thank you for your reply! It seems like most adults should know what they are doing. This couple is in their late 50's so they should have quite a bit of life experience.

@Bjorn Ahlblad I agree 100%

That is where the questions at the bottom come in. What would you do?

Do you have a % of profit compared to ARV that you will not pass when buying directly from a homeowner who doesn't know better?

I have a homeowner who owes $50,000 on her house. She and her husband can no longer make their payments. I talked through everything with her and will be going out to see their house early next week (6/5/18).

My deliema is that they were shocked that they would be able to get any money at all for the house. My as-is retail estimate is $140k and my ARV is $170k. I am guessing it will need some work but the house is only 11 years old. From talking with her I think the budget will be somewhere between $10-15k. I don't want to take advantage of these folks but I also need to make money off the deal.

Where do you draw the line?

Have you ever negotiated against yourself to make sure the homeowners are being taken care of?

What % of ARV should I not cross so that I can still look at myself in the mirror?

I just down want to progress the bad opinion of us real estate guys as used car salesmen. I have never had someone not know at all what their house may be worth.

@Ronald Rohde You are right. It is very tough to judge based on one visit. The two I listed below are ones that I went to twice. The other three I only went to the one time and left. I will have to revisit them. I wish there were more during the day during the week because this is my job and I would love for these meet ups to be during business hours but they are all at night or on the weekend to accommodate the part-timers (not putting down part-time at all).

@Jim Cummings Thanks for sharing. Love hearing the words of wisdom from seasoned veterans. Now it is just about the follow through.

I have been to 5 different groups over the past 4 months. Some are there to allow people to sell their "educational" products and other are more information based. I am a big fan of the networking and information based meets up.

What are you favorite groups and why?

Best REI Newtwork - They are strictly education and networking. If someone is speaking, they are allowed to talk about their product but must also give free advice and what someone could do if they wanted to mimic the product but don't have the money to buy the service being offered.

West DFW REI Group - They do invite the gurus to come talk but are a smaller group located right where I am doing most of my work. It is great for networking.