All Forum Posts by: Steve Meyers

@Antonio Hernandez Turbo Tenant it's free to use and it syndicates your rental listings out to all the sites for rentals, Zillow included.

@Gloria Grotjan just curious why didn't you try to do section 8 to begin with?  Way more lucative and guaranteed money from the government.  I'm actually looking in Jackson, MS for a section 8 rental currently.

@Ryan Cousins not sure if you are still looking or not but the market has changed from where it was 7 months ago.  Obviously the net number is what's most important to sellers typically but I have found escaltion clauses and offering free rent backs to the seller are just a couple of ways to make your offer stand out.  The key is finding out what the seller wants as far as terms but the majority just want a quick close with the highest price.  Buyer letters were great too until they did away with those.  Some sellers will still entertain them.  

I have had luck with doing direct mail marketing for some of my past clients that wanted a certain area or neighborhood, you'd be surprised at how many sellers don't want to deal with showings and everything else that goes into listing a home.  Feel free to reach out if you still want some assistance with the search.

 Great point @Kenny Simpson, @Shane Abbott I have a very good 1031 accommodator that you can speak with he's very knowledgeable and local here in SD, I'll PM you his information.

@Scott Guendert sending you a PM since I can't post contacts on the forum

@Claudio Salvatorelli I have someone who would potentially partner with you on the deal and bring possibly some or all the $400K depending on terms worked out if that is of interest to you PM me

@Vi Huang personally I would get them out sooner rather than later, by the time you get them out it will be Spring and you will need some time to get the place up and ready for new tenants and by that time it will be end of Spring/Summer, prime time to rent it out again. Don't give them a reason to squat and make it harder for you to get rid of them.  If they know they only have a year or so left they may try and figure out a way to squat, but just my opinion.  Part of the reason I don't own rentals in CA

My guess is the deposit is probably non-refundable, most wholesalers have it that way so they get paid regardless if you close on the deal or not so they get paid.  Take it as a learning lesson, you should of gotten a SOW (scope of work) from their referred GC contact before agreeing to proceed and I would always run the numbers with your lender ahead of time.  Did your HM lender need to do an appraisal on the place?  Most don't need to if the numbers make sense.  Sorry you're going through this, but take it as a learning lesson.  You can try and go after them but chances are you'll waste more time and money.  

@Eric Lowe to peter's point there is no deals on market and any deals from a wholesaler are marked up so much there is no meat on the bone for an investor who is trying to flip using hard money, maybe if you're all cash but 95% of investors are using hard money.  Like Peter said your best bet is to get an off market marketing campaign going where you are direct to seller.  Direct mail still works great and is how I got my last deal.  I have someone who is going to be doing some facebook ads for me as well targetting distressed sellers.

@David Rutledge I have a great referral if you need an ADU contractor, shoot me a PM