All Forum Posts by: Ryan Evans

I just did one of these and had to get a cashiers check for $500, send photo proof and then put it in the mail to have a full contract. There was a fairly well explained checklist for POF and the other stuff but not a lot of leeway on how anything is done.

 You’re starting to overthink all this. If you can’t qualify for a mortgage you won’t qualify for a refi either. Banks use the same criteria and they’re the same thing anyway, just with different names. 

Wraps are something to think about once you’ve got some experience under your belt. Finding a partner to bring the money when you bring the deal and do all the work is usually the best route when financing isn’t an option. 

I've done the slow play on a couple of deals like this. I told the sellers the number that worked for me and why. I broke down the rehab costs that I expected and then made an offer with a pass/fail inspection and a decent amount of earnest money. People don't like to be jerked around so I've used the pass/fail inspection a few times to let the sellers know that I'm familiar with the rehab needed and unless something major was uncovered like a collapsed sewer line, I'd close at the price I told them. And I'm flexible with closing dates because some people need a lot of time to move and get their next place in order. That has quite a bit of appeal to many sellers. 

If they've clearly breached the lease and you've given them a vacate notice then just have your attorney file for an eviction. Getting access will only tell you what you already know, and getting into some kind of altercation will just make things worse. Evictions suck, but you should have filed on the 31st and you probably would have already had your court date and they would be on their way out. The process can take over a month so get going! 

@Steve K. thanks for the insights. Yeah, if I went with the first option it would only be temporary. Just a way to cover costs until I find something more sustainable. I don't want to settle with some job I'm miserable at just to make the move quicker. I live for free now so I'm not in a rush. I'd probably lean more towards a professional sales job than real estate sales just because I like the environment better, but I could do both at the end of the day. 

@Craig Curelop Agreed. I might just need to pick a date a few months out, make the move and figure it out from there. Just seeing what I can do in the meantime! 

@Erin Spradlin Yeah, it's too bad that the prices are still increasing so quickly. Fortunately, I'm used to living in places with high prices. I grew up near Seattle and it's the same story there. I just find it to be a pretty miserable place to live now. Though, I also lived in 2 of the 4 of the most expensive cities in the world for much of my adult life so my financial expectations are in the right place. I'm willing to pay more for a lifestyle that suits me, which is why I'm planning to give Denver a try in the first place! 

I'm somewhat familiar with the city, but I'm heading down next week to meet up with a couple of friends and explore the city from a new perspective, 

None. Appreciation is great but you shouldn’t count on it. Especially at the top of a market. It can make the numbers look good but try to find deals that can work without factoring in appreciation. 

Subscribe to the youtube channel Home Renovision DIY. It's by far the best resource I've found. I've learned things from that channel that I have no experience in and taught tips to my contractors with 20 years of experience who thought I was brilliant. 

I've dialed in my routine lately and it's been a game-changer since the days of just waking up and winging it. Wake up 6:30-7 depending on my sleep cycle alarm that wakes me up when I'm not in rem sleep. Glass of cold water. Meditate 15-20 mins. Quick stretch/2 min workout to get the blood pumping. Shower. Coffee or tea. Journal/track/plan what I'm working on that day. Read 20-30 mins. Breakfast. 

Only after all that will I check any texts, calls, emails because getting bombarded with issues first thing in the morning is not the way I want to set the pace for the day! 

I barely generate any paper at all because everything is on Google drive. Then I have separate folders for each property, templates, contacts, other resources. I use esign programs for leases, etc. and any receipts are immediately scanned into quickbooks. 

We can close this one out. I looked up the OP. He just opened an account and is spamming a bunch of forums promising 7k per week returns on a 100k investment. Clearly a scammer and I'm sure he'll be deleted soon.