All Forum Posts by: Steven J.

@Drew M. Here's the link to the fileplace upload. 

Many of these websites listed on craigslist about becoming an assistant who can make 10-12k/month is education being advertised as work but you do have to pay for it first. I respond to these often and its always the same pitch of 'tell us how much time you can commit, you can make x amount per month if you work, etc.' Its no better than the 2 hr pitches from Fortune Builders and other guru companies. 

I instead suggest that you reach out to local reia's and real estate agents. I had the opportunity to do some side listings with an agent in CO years ago that helped me learn some basic (quite basic) things about marketing. I did get paid a small amount of money and enjoyed it because I was excited for the opportunity to learn. 

Include that at move in and make sure the lease requires that they are responsible for checking batteries on all smoke and co2 detectors, but don't expect them to do it. In the situation above your butt would be covered and I personally would want to make sure these are provided at move in regardless and then looked at during an annual inspection if those occur.

Look into a self directed 401k as well. I've added a form comparing the 401k vs IRa self directed options in the fileplace. You're going to be limited with how much you can actually use of the 10k (for example a 401k allows 50k or up to half of your account). My sd401k was 1000 roughly to set it up and is intended to be used on smaller loans/purchases <50k for most cases. Definitely check out what you can contribute to 401k vs IRA, its a big difference.

@David Moore I've already got that one. Just did a transfer to that card at 2.99% for something like 18 months. 

I'd charge for the blinds in most cases because they add up quickly. I found that even the cheap ones for a few bucks are only a few bucks. I am shocked if they make it out of a turnover unscathed. There really isn't a middle ground for blinds because all of a sudden you're looking at $30 for a similar sized pair that likely hold up but tenants are not known for cleaning blinds at all so I expect those to look dirty and they are a pain to clean. At that point they get charged for cleaning the blinds which is close to what it might be to just replace. 

Blinds are one of my least favorite turn over items

I prefer to do a walk through video of the homes I'm selling and point out the defects if there are any. Keep in mind i'm selling on payments so its a slightly different approach than renting. The approach there is that I'm being up front and for those that don't mind whatever an issue may be they may be less annoyed by it when they actually see it.

I'll chime in as I've started two meetups now. First one was in Fargo and garnered 300 members (only knew maybe 20 of them for real) and recently got one going in Illinois. I have always found the hardest part is securing the right location and guest speakers that are willing to share an evening to educate mostly novices.

My goal is to create a laid back atmosphere where people can network and learn from each other. Unfortunately, the already successful players probably won't attend because they are playing an entirely different game. 

My biggest piece of advice would be to practice your elevator speech about what the meetup is and what the purpose is and stick to a purpose. Mine is to provide free education and networking in a no pressure environment. That means I'm likely not going to have people pitching products, we won't be bashing each other, etc. Similar to the forums on BP (minus some of the hostility in some). Its a casual atmosphere. Ideally, the perfect spot would be a secluded room at a restaurant where food and drink can be served and the room is sequestered off so it doesn't get too loud. So far, I've stuck with Perkins... not quite the right feel but its a free place.

As for events I try to find topics that will be engaging for others. The hot button topics you see on here would be good such as wholesaling, landlord/tenant law, etc. I've seen speakers discuss REITs, screening tenants, section 8 housing, syndication deals in Belize, and the really popular ones are when you can visit a property that is currently being flipped. This allows people to see and know that its been done in their area. 

Then you've got all the marketing to worry about. Meetup.com, craigslist ads in the group forums, and facebook pages and adverts all help. Build your list of attendees and send out nicely crafted emails reminding people of the events. 

Good luck! I hope it turns out well - just bear with the small numbers at first!

I'm replying just for the steak dinner.

And yes, if this was legitimate I would LOVE those terms. like others above said if they won't take the $800 out at the close of the loan and the $800 is used upfront for a 'processing fee' or other its scammy.

*This is a repost now with a locked in location*

What is a tax lien you may be asking? Think of a lien as an invoice for payment against a property. If the county mowed your lawn they may charge a $300 lien. If a contractor isn't paid they may charge the remainder of their contract against the property. If you don't pay your property taxes you will have a tax lien against the property. Because the county needs cash to pay local county services the tax lien can often be sold to investors giving that investor the right to collect safe returns, high interest, and in some cases the opportunity to foreclose on a property for pennies on the dollar.

This month Rick Balsbaugh will be educating the group on tax liens - a lucrative way to pick up real estate with what can often be great returns from 6-8% up to 18%. In his years as an investor he has picked up multiple liens in Illinois and with partners in Florida (a working vacation can be a great write off). Tax lien investing can be an incredibly complicated niche as the rules vary state by state, county by county, and in some cases township by township. In most cases, a county may hold a lien auction once a year where you come prepared knowing what properties you will bet on, what rates of return you want, and ready to move at lightning speed to get the properties you want.

Richard has worked as a nutrition specialist with ADM Company for the last 30 years helping to develop quality feed for livestock across the nation and the world. As one of the worlds top producing agricultural processors and food providers Rick has had a part in making the agribusiness what it is. He has spent many of these years investing in real estate on the side. In his free time he and his wife have fostered 100s of cats and are both on the board of CATSNAP in order to help them find homes to be adopted into.

Make sure to save the date for this meetup!

As always, feel free to bring friends, colleagues, partners, spouses, etc.

*If you find value and would like to contribute a donation to defer the meeting costs(mostly catering-related), please do so using the Chip In link here

I look forward to seeing you there,

Steve Johnson

240-394-5733