IF I DON'T HAVE A CAR-CAN I STILL DO REI - Posted by Deonda

import · February 20, 2002, 12:53pm

Posted by Ben (NJ) on February 22, 2002 at 08:10:51:

That was hysterical, reminded me of Pee-Wee Herman on his bike. Here’s another one. A couple of years ago, my mom paid a local contractor in advance for work to be done. Of course he never showed up, he’d already been paid so why not focus on his other jobs? My brothers and I haunted him, embarrassed him at the local tavern, called him at home at dinnertime, threatened to sue him etc. Finally he agreed to be at my mom’s house 7am the next morning to start work. By sheer coincidence, I was having my floors done and my mom said to bring the floor guys over to her house to give her an estimate. So I pull up at my mom’s with these two burly guys. The contractor took one look at us, went pale and started yelling “I’m doing the job, I don’t want any trouble!”. The floor guys looked at me like “what is this guy’s problem?” We are still laughing about that!

import · February 20, 2002, 12:53pm

IF I DON’T HAVE A CAR-CAN I STILL DO REI - Posted by Deonda

Posted by Deonda on February 20, 2002 at 13:53:37:

I’ve already bought flipping and lease option course to get ready and do deals. I have only $500.00 left and I was going to use that for marketing. I live in the city with a population of about 350,000 people and have access to the bus and train station. The only problem is… I don’t have a car to get around and look at properties that might be located out in the surburbs or far far away with motivated sellers. How can I handle this problem?

Thanks for responding.

P.S. Sad to say… I have few friends, and they do NOT have a car I could use!

import · February 22, 2002, 9:29am

Re: IF I DON’T HAVE A CAR-CAN I STILL DO REI - Posted by GL(ON)

Posted by GL(ON) on February 22, 2002 at 10:29:10:

Yes! You can do business without a car. It’s harder to get around but you already know that. If you don’t want to show up for an important meeting on a bike get a taxi.

Here is a way to get an expensive car for free, if you need to impress someone. Go to a car dealer’s and take a car out for a test drive - to your meeting. If you get it back in a couple of hours they won’t mind.

Once you have done one or 2 deals you will be able to afford a car.

By the way walking or riding a bike is an excellent way to scope out a neighborhood. You see a lot more than you would from a car. So keep the bike even after you get your limo LOL.

import · February 21, 2002, 9:25pm

Yes–Motivated Sellers Don’t Need a Driver-nt - Posted by J. Clifton

Posted by J. Clifton on February 21, 2002 at 22:25:45:

nt

import · February 21, 2002, 9:41am

I’d Get a Car - Posted by Frank Chin

Posted by Frank Chin on February 21, 2002 at 10:41:09:

Hi Deonda:

Hate to voice a negative opinion.

Flipping and lease options is something you do to solve other people’s FINANCIAL PROBLEMS. To do so, you must APPEAR like you ARE CAPABLE of solving those problems yourself.

First, let me say I grew up in the city, and didn’t realize what a big deal cars were in the suburbs. People make judgments on what car you drive. Occasionally, when I go somewhere and I park further down the street, folks look puzzled and say, where did you park your car?

I once got a good quote from a contractor to cement a back yard. This guy came the very first day on a bike with a few tools to get things cleaned up. A neighbor whom I left to supervised called me excitedly and said “I hope you know what you’re doing, this contractor of yours couldn’t even afford a car”.

I rushed down there to question the guy. He had an answer for everything. Claims he got a freind who has a dump truck to haul the stuff away. Says he’d arrange for the cement to be delivered when needed, no problem.

Well, the project turned out to be nothing but problems. For instance, the friend’s truck he was counting on is tied up on other jobs, so I got a pile of junk for months on end. After months of excuses, I fired him, and got a REAL contractor.

What I’m getting at is when you show up to do a deal, you got to look like the REAL DEAL. You got to have some reserves to do flips, and lease options, particularly when T/B’s are short and you have to cover some payments.

Bronchick wrote a post recently saying “no money down” does not mean “no cash”.

A word about using old folks to get you around. Sounds like a good idea on paper. My father is 80 years old and NEVER bought a car in his life. Got a bunch of retired buddies to drive him to the supermarket, and the doctor.

Unfortunately, its not the most reliable plan as these folks can be out of commission for long periods due to illness, spouse illness, spending holidays with the grandchildren, outbreak of arthritis - you name it. So my brother comes in from Jersey (to NY) on weekends to help with the shopping.

In my book, if I’m going into a business, I’d figure what I need and how much it would cost me to get going. It looks like you’re all out of gas after paying for marketing. If a problem came up, not only will you not have cash to cover unforseen contingencies, you might not even be able to get there!!

My wife never let me forget about the guy I hired with NO CAR. OK I’ll say it again “it was stupid”. I could imagine some poor guy with a flip gone awry having his wife and friends reminding him about trusting someone who cannot even afford a car.

Think about it.

Frank Chin

import · February 20, 2002, 6:36pm

Re: IF I DON’T HAVE A CAR-CAN I STILL DO REI - Posted by dave (bal’mer)

Posted by dave (bal’mer) on February 20, 2002 at 19:36:44:

Deonda,
While going to college I used a bike as my only form of transportation around town. It was great. A car has made me very lazy. We have a light rail (above ground train) that you can bring your bike on. So I would use that to get close to my destination. You will get to know neighborhoods well with bike, you can write down house addresses that look vacant, and send them postcards.
This may sound off the wall, but I have known some elderly people that would be happy to just get out and do something constructive. If you know any elderly people that are retired in your area, you might want to ask them if they would accompany you to look at some houses if you gave them some money to pay for gas etc.

Other advice, screen your callers well, so you do not waste your time. Make sure they are very motivated.

Best wishes,

dave (bal’mer)

import · February 20, 2002, 1:38pm

Re: IF I DON’T HAVE A CAR-CAN I STILL DO REI - Posted by Steve-DC

Posted by Steve-DC on February 20, 2002 at 14:38:52:

Deonda,

The question of whether or not you can do it is not for anyone to answer but yourself.

I didn’t have a car either when I started. I looked at houses on my bike! Funny now, but I didn’t have a choice…I got in shape though.

Eventually I bought a great car for very cheap at the local auto auction.

Many of the concepts for wholesaling houses can be applied to buying a car. Use what you’ve learned to your advantage and get creative.

Good luck,

-Steve

import · February 20, 2002, 1:18pm

Re: IF I DON’T HAVE A CAR-CAN I STILL DO REI - Posted by BoY

Posted by BoY on February 20, 2002 at 14:18:18:

Concentrate first on those properties that you can get to via public transportation. Work on them and build cash to buy a decent used car and make friends with auto mechanics. Also, make friends with those who have cars and ask them if you can ride with them if the property you want to look at is near to where they’re going. Make up to them when you close on a deal.

if you know someone who lives near the area where you have a property to look at, ask them if they can drive by the property and request them if they can take pictures of them for you.

You can still continue doing REI but mobility increases the number of properties you can look at and invest in.

My 2cents
BoY

import · February 22, 2002, 2:14pm

On the subject of Taxies - Posted by Frank Chin

Posted by Frank Chin on February 22, 2002 at 15:14:42:

Hi GL:

I find this thread somewaht amusing on the subject of getting round, from bikes, to senior citizens, to test driving dealer cars.

There’s another one. GO DRIVE a TAXI.

I had a applicant wanting to rent a house mine with very limited income. But he came a number of times to look at the place, first himself, then with his brother, and finally with his wife. On his application, he had down that he’s a part time taxi driver.

While his taxi job is part time, every time he came, it was by taxi. I asked him about it, and he mentioned that it solved their “second car” problem plus it gave him a chance to drive around different neighborhoods.

This might be the transportation solution, and who knows, the tips might be generous.

Frank Chin

import · February 22, 2002, 1:53am

Heres one on me… - Posted by Kent C

Posted by Kent C on February 22, 2002 at 02:53:49:

I’ve got one of those to tell. I work long hours at a corp job so try to handle as much as possible by phone. I had just run an ad for contractors and handimen. I interviewed these over the phone. One of the best I liked was an un-liscenced electrician. My wife who is playing forman for the day on the job (a remodel of ours) calls me at the corp job to tell me she needs an electrician for some minor wiring. I whip out my trusty online spreadsheet and find this guy I have listed as “tools, vehicle, very knowledgable with electrical and $8/hr, claims to be dependable”…too good to be true. I call the guy and send him over.

Well my wife assumes I know what I’m doing and awaits his arrival. This guy comes riding up on a BMX bike with a banana seat and sissy bar. He has a wire basket on front (with a reflector for safety of course) with a pair pliers and a single screw driver in it.

So my wife STILL assumes I know something she doesnt (she is such a sweet and trusting thing…(grin)) and lets the guy go to work. After he tears up a couple of conduit connections and puts his elbow through the sheetrock in the process, she calls me to complain (LMAO). I couldnt stop laughing long enough to tell her I didnt even know the guy. She thinks I’m laughing at her and winds up hanging up on me and firing the guy. SO we may have un-orthodox ways and means but do get the end result right (we got this bum on down the road). She still swears I set her up…(laughing out loud).

Kent C

import · February 21, 2002, 10:54am

Stupid things - Posted by JoeS

Posted by JoeS on February 21, 2002 at 11:54:10:

Frank: I thought I was the only guy whose stupid mistakes are never forgotten!! Gotta love the wives!

import · February 21, 2002, 1:05am

Re: IF I DON’T HAVE A CAR-C - Posted by Kent C

Posted by Kent C on February 21, 2002 at 02:05:04:

What a nice suggestion about the elderly. And a nice idea too. I think we as a society ignore the elderly waaayyy too much.

Its so easy to get wrapped up in the adrenaline side of this biz (finances). Your comment, like a good punch line, took me off guard and made me smile. Thanks,

Kent C