All Forum Posts by: Ryan Flanagan

I use Open House Contemporary. They are VERY good at what they do. Also, Matt and his team are great people. 

http://ohc-bnb.com/sleep

PM me if you want Matt's contact info

Welcome to the tribe! 

Dan, thanks for your reply! Those are good numbers given the number of places I've seen listed in a given month. Do you think using my approach would be a decent way to work pre-foreclosures? I would imagine the sellers would be very motivated this late in the process. But maybe I can cast a wider net going with the lis pendens. I agree it would be useful to visit an actual sale. Not sure where Westfield is...any interest in going? Haha.

Thanks for the advice. I will have to check to see if I can find a compiled list of lis pendens in Lake County. 

Yeah not sure how many deals are being had at the sheriff sale over in Lake County, but would love to hear from someone who works these things to get a sense of what it's like over there. 

Hello all! I am looking for some help/advice on working pre-forclosures and auctions in Lake County Indiana. More specifically, I've been looking at the Lake County Indiana Sheriff's "Sale Listings" posted on their website. My plan is to get the list into excel, filter by target area and find out assessed values for properties using the assessors' website. If I subtract the judgement amount from the assessed value I might have something resembling an equity estimate for each property. For the ones that have sufficient equity I would reach out to the seller to try to buy it, and if all else fails, I could try to buy it at auction. Obviously I am glossing over title work, etc., but I am just trying to get a general idea of how people might approach lead generation using the monthly sheriff sales data. Is this even a good starting point for finding deals? Any input is appreciated!

I think that real estate investing and social work might take a lot of effort to reconcile mentally. When you say that she doesn't get credit checks and co-signers I can see her not getting it in one of two ways:

1) She doesn't understand that collecting rent reliably is critical to your success and that credit checks are excellent ways to find out whether a potential tenant will actually pay.  I'm sure there are ample resources online or whatever to explain that concept to her if she doesn't understand it.

or

2) Coming from a social work background she can't (in good conscience) see how you can deny rental housing to people with bad credit scores and no cosigners. I could see how it's slippery if you are social-justice minded. Maybe she fears being ostracized by her fellow social workers if you guys are actually successful. 

Anyway, if it's more #2 I can see why she might throw up a bunch of roadblocks. Talk to her and see if she has problems with your plan from a philosophical/moral standpoint. Maybe do some research into how you can transition into low income housing once you have some deals under your belt. I would imagine that aspect of investing might hold some interest for her if social work is in her DNA. 

Hi Nate,

I'd also be interested in more information.