Everything Else

Hello all, I'm a new Wholesaler & I'm looking for any referrals of investor friendly Title Companies and/or RE Attorneys in Philadelphia, PA to assist with closing my deals?

Thanks,

Jimmy J.

This is the time of year that many investors get lazy. So use that to your advantage!

Get those signs out! Post ads and flyers! Hand out business cards or put them on cars in parking lots. You have captive audiences in the form of parked cars with all those shoppers!

It is true that there are not as many active sellers and buyers at this time of year, but the ones that ARE out there are SERIOUS sellers and buyers. Has anyone ever heard the term "motivated"? Yeah, I thought so! What makes a motivated seller feel that cash pinch faster than holiday time?

Banks are also trying to get more of those albatross properties off their necks and will often accept more deals at better prices and more quickly.

Here are the 6 elements of real estate success:

1) Finding Deals - Not just finding property.
2) Evaluation - Three parts to evaluating deals:
a. Circumstance - identifying the needs and motivation level of the seller.
b. Condition - doing a property inspection.
c. Profitability - calculating how much money can be made and deciding how to make it.
3) Offers & Contracts - Contracts that protect you; presentation skill to get it accepted.
4) Financing - Two areas deal with financing:
a. Finding flexible and usable lenders.
b. Creative financing techniques.
5) Exit Strategies - Understanding the higher and better use principle.
6) Find a Need and Fill It - The crown jewel of investing fundamentals.

Hi everybody.
Looking for any DG participants in and around the KCMO AREA.

PM me if you are. THANKS

Only 4 1/2 years ago, I never thought of real estate investing. Then I saw that fateful infomercial - cute little Italian guy telling me now was the best time in my life to get rich with real estate. Fast forward to a year ago - after successfully investing locally and remotely - flipping, holding, wholesaling - I began traveling North America to mentor and teach. What an honor and joy!

Here is an interesting article on housing prices. Prices are continuing to rise, but at a lower monthly pace, even though the yearly gain is high (over ten percent higher from last years prices)the rise in prices seems to be slowing down. We have also not reached the price of housing before the market turned.

Home prices posted the largest annual gain since housing bubble days in August, although the month-over-month gain slowed for the fourth straight month.

But with mortgage rates significantly higher in recent months, the pace of increases is slowing. The 1.3% rise compared to July is only half the monthly increase posted in April when mortgage rates were near a record low.

Anyone ever had tenants abandon a rental property?

I recently bought a turnkey property and then the tenants stopped paying rent since October; So, I hired an attorney and he prepared a 3 Day Notice, which was posted on the door; but it appears that the tenants have abandoned the house, although there are still some things (junk) inside. The attorney said that if the tenants are no longer living in the property that I can have the locks changed; but he also said that he can go ahead and file the eviction with the court and the hearing would take place in 2-3 weeks.
My concern is that if the property is empty for three weeks, that some squatters may move in...

Any suggestions?

When the furnace comes on and off every minute or two, it usually indicates a malfunction.

Sometimes the implications are only inefficiency and perhaps in adequate heat. If there is a crack in the heat exchanger, the implications are life safety and furnace replacement.
The object is not to turn you into a home inspector, but to give you some insight of some simple things you can look for, especially in older home and original equipment. If you have any doubt, you should call a professional to come and do an inspection of the furnace or just plan on replacing it and run the numbers with a new furnace.

Happy rehabbing!!

If you have a faulty heat exchanger you will definitely want to have a carbon monoxide detector within the home. I once had a faulty heat exchanger with my furnace and my carbon monoxide detector went crazy!! I was to bring my baby boy home the following day. Due to the dangerous conditions I had to delay him coming home for the day until we could get the furnace fixed. Of course this is a safety issue demanding immediate attention.
If the pilot is still on, some people maintained at the chance of an explosion is low because the pilot will burn off any gas that accumulates around the furnace. However, this is a risky assumption.

I recommend servicing immediately where leaks are detected with your nose. If you need instruments to detect leaks, they may or may not be significant.

Many times I have been asked: How can you tell if the furnace is in good working condition or when does it need to be replaced.
When you are looking at the furnace look at some of the burner problems that you may likely encounter:

1. In operative

2. Scorching

3. Pour flame color or pattern

4. Flame waivers when house fan comes on

5. Rust

6. Dirt or soot

7. Delayed ignition

8. Gas odor or leak

9. Short cycling

Since it's not your role to be a troubleshooter or a technician for all of these problems I would recommend servicing of the furnace anytime you buy a new property.

HAPPY REHABBING!!