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All Forum Posts by: Bill P.

Bill P. has started 6 posts and replied 368 times.

Post: If Possession is later then Closing, what happens in between?

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Trace P. I remember when it was common to get occupancy 30 days after close and that was the norm. No security deposits....you just expected the sellers to act like adults.

Post: How do house flippers acquire money to finance renovations

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Joshua Lira Some HML companies will finance the reno as well. Sometimes we raise investor funds just for the reno portion. Sometimes we self fund. Depends on the project.

Post: Dallas or Orlando? Which one?

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Nicholas Barbera my vote is Orlando & the I-4 corridor

Post: Where is the balance with "Analysis Paralysis" ?

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Joel Calkins The balance is located in Nike's slogan: Just do it!

Post: What 1-3 pieces of advice do you wish you'd known 20 years ago?

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Sherry McQuage

1. Never sell any property i owned...convert them to rentals.

2. Check out every tenant when they apply. No shortcuts allowed.

3. Be more aggressive in my purchases. No pain, no gain.

4. Bonus: Use technology more effectively in my real estate pursuits.

Post: Rent collection method

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@YiBing T. Look at rent redi. It can help your situation.

Post: What state do you recommend for LLC?

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Kathy Shaps I always form the llc where the property is located. Been doing that way for 20 years.

Post: Direct Mail Marketing failure

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Dylan Bowman get a po box and use that as your return address. Also,look at other neighborhoods to ascertain if there are better candidates. Look at your mailer and judge if it is sending the right message. Direct mail is meant to adjusted to be effective.

Post: Applicant requesting to pay year in advance, from out of country

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Michael Gallagher You have to be aware of money laundering rules and cash deposits more than $10,000. It could be legit but why 1 year in advance if you have a reputable cosigner. Except maybe to lauder cash. Especially if they move in a month or so and ask for a refund that has been cleaned by your American company. Just be careful .

Post: Zoning from multi family to single family

Bill P.Posted
  • Investor | Syndicator | Instructor
  • Cincinnati, OH
  • Posts 435
  • Votes 198

@Stephan Bataillard I don't see the benefit of doing so. If the houses were built as multifamily, I don't see why the change would make sense. It is better to be zoned multifamily and have a single family live in it than to be zoned single family and not be able to use it as a multifamily.