SOLUTION!!  Sadly, I've done this before on my property.  On the plus side, IT WORKED!  Even had s red blinking light on it to appear real.

http://www.adorama.com/SVISC300.html?gclid=

Hi TZ –
I am licensed… I carry E & O Insurance…I have never been named in a lawsuit…I have been doing this for over 10 years in the same location….I have always catered to investors and have a large international presence in FL and NY/NJ…..My blood type is Typo O Negative and I am handsome.     Feel free to reach out.  I only deal in SW…[Read more]

Right Jay, but I was confused when Emma said she has never earned a commission in her life, but is a licensed agent.  I agree with your definition of a wholesaler.  By your definition, I am still a wholesaler

I am also licensed and carry E & O.  Thankfully I haven't been sued yet

however to even VAGUELY talk about real estate you need to  be licensed.

I must have missed when Donald Trump, Robert Kayosaki, Steve Wynn, and others who seem intellectual in real estate got their real estate license. 

I am a real estate agent because to even play  in real estate you have to be.

Huh?  Why?  I spend a ton of time in NJ and FL…[Read more]

Sorry Emma…Can't dignify your response.  It is entirely wrong.  Caveat Emptor is for everyone including buying through a local agent like you.  Sellers are sellers.  You just happen to represent a seller or have the audasity to say you represent a buyer at a seller's expense.  Either way you are looking to make a commission, right??  Only a…[Read more]

Emma,
I kinda stopped reading after you said stay away from wholesalers / flippers.  Technically, most wholesalers are flippers.  I am a wholesaler and I "flip" product and there are a lot of us out there, yes some ripoffs I have seen.  As a wholesaler, I'll take a loss on one property just to clear my books to earn it back the following week. …[Read more]

BMH & Mary,
<moderator: delete advertising> My suggestion is looking in the SW Florida areas at the moment.  Employment has made the biggest gain from a percentage standpoint out of anywhere else in the country, which is resulting in a legitimate housing recovery.  The best pricepoints to target ar $90,000 to $125,000.  If you are looking for $50k…[Read more]

TZ:
That looks good on paper, but I am a huge skeptic on condos involving an HOA which they all have.  Furthermore, the one's I am most skeptical about are those built during the boom years.  The reason is because in most cases, these units were bought by speculative investors.  Most of them lost them in foreclosure and seems like there are some…[Read more]

Hi TZ: 
I stand by 8% actual yields.  I can put together a pro forma based on fixed expenses, allowances, actual rents and come up with a 12% yield.  Look deeper into the thread.  Lehigh Acres duplexes are not warzone.  Affordable housing, yes, but hardly a warzone in comparison with warzones I see elsewhere.  I have documented ACTUAL yields in…[Read more]

WI:
The market is undoubtedly getting better, but I will say that there has been some skeptisism in some markets.  Why are investors buying?  High yields in cheap areas?  What do those cheap areas have to offer?  You are now an affordable housing investor.  Historically these are cash flow homes with high risk and very little hope for capital…[Read more]

The window of opportunity is 75% shut in the popular "cheaper" markets targeted by out of towners.  At least in Florida and Atlanta.  I can say FL because I work / live there.  I can say Atlanta because someone very involved in that market told me so. 

If you want good deals, it is in the multi-family arena.  I'll let you in on a secret.  It…[Read more]

Never met you Steve, but I will say that I like the way you stick to one specific area.  At least I only know about one of your areas which is my area of Ft. Myers.  The duplexes you are buying for those prices I am guessing are off Palm Bch or in Pine Manor.  Some call Pine Manor "Crime Manor" but as long as investors are aware what they are…[Read more]

If you want true walkability, you are going to pay $225 per square foot, all the way to much much higher for places.  I'm talking about a home where you can walk to Starbucks, Grocery store, etc.. Those areas rate 70 or higher.  I buy and broker Jersey City, NJ.  Located on the Hudson River across from Wall Street NYC.  Jersey City, Hoboken,…[Read more]

1. Avoid properties with a walkscore of less than 50 (please refer to http://www.walkscore.com):
Walkscore is simply a gauge of how urban your neighborhood is and the more metro you are the better, per this website.  That said, if you look at scores 50+ on Walkscore, ie…NYC, Hoboken, NJ, Miami, FL, Los Angeles, CA, etc… you will easily exceed…[Read more]

Jay,Sorry, I don't understand your post.  What is 50 plus?  Your age?  I'm being serious.  So you are saying that in lieu of taking Section 8, you are throwing away your profits in upkeep?  I have to disagree there.  Not sure if you read my article I posted above.  My friend has a really good track record of Section 8.  Also, I am a princip…[Read more]

Tony,I don't do much Section 8 in Florida although I know quite a bit about it.  I've heard good and bad, but more on the good side.  Section 8 has come a long way with newer regulations and Housing Authority rules.  I wrote an article on Section 8 about a year or more ago for my New Jersey business.  It's all similar but could shed some light on…[Read more]

Tony,Why did you buy in NW Cape Coral?  Cheap?  Section 8 is fine, but is delicate.  In NW Cape, Section 8 is rare but will get you higher rent in subsidy with tenants balance of payment.  But why you would buy in NW Cape is beyond me unless you just want cheap.  You get what you pay for and Section 8 comes with that.

Here is what everyone needs to read:According to a report by Morgan Stanley, wholesale real estate will offer real estate investors capital appreciation that they believe exists from the convergence of distressed to non-distressed prices as the backlog of inventory is cleared.  In certain markets, even buying at or slightly under retail prices…[Read more]

Will do!  FYI, I'll be in my NJ office July 21-31.  A good point a forum member just e-mailed to me…  This forum was built around Steve McKnights philosophy of buying cheap for higher cash flow.  I am not saying you can't make a good yield on that..  The forum guests are likely in that demographic of buying cheap where "better"  MSA area price…[Read more]

Couldn't have put it better myself Jay.  I have been looking for the right words on how to describe Texas but this hits the nail on the head.  For the last 2 years, I am more favorable on Replacement cost.  It is one of the bigger reasons I like improving markets of Florida.  Example:  I just sold a 4 home package to one of my Indonesian inve…[Read more]