All Forum Posts by: Sean Walton

Hi @Tim McGarvey welcome to SF. I would be up for grabbing coffee or lunch.

@Mark Pedroza thanks for that tag and apologies for not organizing a happy hour sooner summer travel and work have kept me pretty slammed but I will get scheduled before the summit.

@Paul K. McCoy,

   @Jeff Stephens is right many title companies are more than happy to give you mailing lists. They also have useful tools 1st american title has a tool called myfirstam which is replacing fastweb. This is a great tool for quickly getting the name and mailing address of the person on title. You can also pull comps. their mobile app lets you visually see which homes on a block are owner occupied for door knocking.

The only drawback of the title company list as far as I can tell is equity. You can filter by purchase date and make educated guesses but if someone got a HELOC or refinanced they may have a lot less equity than you think. if they don't have enough equity then that may limit how you can buy from them to a short sale. If you are doing your own mailings find out who your local listsource rep is. he/she can get you leads for say cents 0.25 or less each. You may spend $4.00 or more mailing to someone for 6 months so I would pay up for a more proven list.

I don't understand your question are you saying the person you bought the place from didn't give you the keys at closing and now you need keys? That is weird but I guess you could ask the tenant to make you a copy of their key and reimburse them. Or just say the old owner didn't keep a record of service personal with copies of keys and for everyone's security you want to change the locks Or maybe but hopefully not you are trying to change the locks on a tenant without going through proper eviction procedure. Don't do that! Cash for keys may be a good solution but make sure they vacate and sign a relinquishment of occupancy or whatever your jurisdiction requires before you pay them.

I do t think time of month matters. Time of year may matter. Things slow down around the holidays and summer as people are traveling but as most people say it takes 4 to 7 touches to usually get a deal so stay consistent in your mailings even over those periods. If you are doing 1st class stamps try and avoid it arriving on a Thursday as it can get lost in the grocery store adds. If you are doing standard stamps that is a lot harder to predict when they will arrive but you can send more mail for the same cost.

Tarron Burton I don't think the android app has that capability. The newest iPhone app does. Also you can only tag people you are colleagues with on BP or have already posted something in the string

Diane G. I might reach out to some commercial brokers there may be more demand than you think for the commercial space. Architects and design professionals may want the space near a busy street but not necessarily needing foot traffic since most business is through referrals. Maybe a co-working space? However the city is desperate for more housing so I would talk to the planning department as others suggested. Just don't expect it to happen quickly. Try and buy for the price of 3 and the 4th is icing on the cake

I think it is a great idea! I'm planning to do it myself. Driving slowly through neighborhoods may get the cops called on you, cycling probably won't. I would talk to your 1st american title rep or another title company you plan to use. A lot of them give you instant access on their mobile app to if they are owner occupied or not and what the mailing address is. I think one of the podcasts mentioned a guy who used his Segway to do this.

Steve Karpinski what are you using the LLC for? I'm not a lawyer and this is not legal advice. This is not an area to cheap out. If this is for asset protection on buy and holds make sure you follow all the rules and don't co-mingle funds or your LLC may be pierced during litigation Also hire a CPA first to advise you on the right structure if you are doing flips or wholesaling a S-corp might be better tax wise

Looks like the original poster closed their account but there are tax advantages to holding for 2 years or longer

Jason Segrest is the property a true multifamily? If so then you likely already have a commercial loan with ARM and a balloon payment after 5 or 10 years? Usually people don't buy in an LLC to get conventional loans and better rates on quads and smaller properties. That is also part of the reason banks call loans because they can make more money as rates rise. However there is some disincentive for them to do this because as long as you are making payments they don't like to take performing notes and call them due because then they need to hold more money in reserve. I believe you can get the loan in an LLC without a track record if you personally guarantee the loan but it depends on the bank and the asset. You should talk to a lawyer to make sure you are still protecting your assets