Posted by Joe on May 31, 2006 at 18:26:51:
Do you have any good resources on those topics of forcing asset sales, bank levies, and such?
What are investor’s investing in? - Posted by Joan
Posted by Joan on May 30, 2006 at 15:18:57:
For those of you that would consider yourselves real estate investors, what are you investing in? Are you bird dogging, doing the rehab and flip,foreclosures, investing in land, pre-construction condos, or a good combo of all of it? Just trying to figure out what is considered to be one of the best roi. Thanks
Re: What are investor’s investing in? - Posted by michaela-FL
Posted by michaela-FL on June 04, 2006 at 10:29:48:
Joan,
this is not just about money. The most important ingedient in this biz is your personality. There may be a great sub-to deal out there, but if you can’t deal with people, you mkay lose that deal to someone with more negotiating skills. You may come across an awesome fixer-upper, but you’ve never done a major rehab and don’t feel comfortable with it. Other investors may not feel comfortable with it either, and you can’t find anyone to wholesale it to.
My point is: There are a lot of different ways to make money in real estate. Make a list of your personal
characteristics: What are you good at? What do you really enjoy doing? THen find the type of investing that utilizes those strenghts. If you can then develope a niche in that particular variation, then you can make a lot of money. BUt if you go into this biz only with ‘how to make the most amount of money’ in mind, then it will be a very difficult industry to work in, because nothing ever runs as smoothly as you plan it.
Michaela
Re: What are investor’s investing in? - Posted by lukeNC
Posted by lukeNC on May 31, 2006 at 08:43:31:
i’m doing a lot of investing in bad paper…judgments mostly…and doing quite well. its my bread and butter these days…
Re: What are investor’s investing in? - Posted by Sailor
Posted by Sailor on May 30, 2006 at 16:34:17:
I agree w/Mike–MHs are where I am working. Caveat: Common sense dictates that you diversify, even w/in a single area like housing. I also have raw land, waterfront, stocks, etc.
Tye
Re: What are investor’s investing in? - Posted by Roggie
Posted by Roggie on May 30, 2006 at 16:28:22:
I’m using options to control houses instead of owning them. Then I sell them quick. HUGE r.o.i. I learned from this guy named Steve Miles.
His web site is http://www.60daycash.com
Check it out.
Re: What are investor’s investing in? - Posted by Mike (Seattle WA)
Posted by Mike (Seattle WA) on May 30, 2006 at 16:07:42:
For straight ROI, very little can beat Mobiles. Can you say Infinite ROI?
family - Posted by Julio
Posted by Julio on June 03, 2006 at 22:18:30:
Luke! How do You get the family to support You on judgement collections? Mine say; it is ugly busines, bloodsucking etc… Julio from Oaktown.
Re: What are investor’s investing in? - Posted by Bob Smith
Posted by Bob Smith on June 03, 2006 at 15:36:23:
Are you doing mortgages as well as judgments?
Re: What are investor’s investing in? - Posted by Joe
Posted by Joe on May 31, 2006 at 10:16:54:
luke, what sort of a discount are you getting on the judgments? I’d like to buy them out when they come up. I tried negotiating over one judgment and that owner wouldn’t budge below 80% for some reason.
And what’s your strategy for cashing them in? Just buy and hold until the owner sells their property and has to pay them off? Or do you pursue them another way - garnishments, forcing a sale of assests, etc?
Re: What are investor’s investing in? - Posted by Mike (Seattle WA)
Posted by Mike (Seattle WA) on May 30, 2006 at 18:08:38:
2nd the diversity. I also have a range of other things going just in case 
Re: What are investor’s investing in? - Posted by JC
Posted by JC on May 31, 2006 at 16:47:42:
What kind of housee and seller motivation, discount, how do you say to potential sellers to convince them to enter an option?
Re: What are investor’s investing in? - Posted by Joe Kaiser
Posted by Joe Kaiser on May 31, 2006 at 02:06:35:
You’re using options? Can you explain that one?
What does a seller think when you whip out an option and why use that
instead of something normal, like a purchase and sale agreement?
Joe
Re: What are investor’s investing in? - Posted by Rob Ricker
Posted by Rob Ricker on May 30, 2006 at 23:12:30:
I believe Options are a great tool to create quick cash, but I’ve had trouble geting sellers to agree to the way I want to set them up. I checked out Steve Miles site and it seems like a good program, but $997 sure is pricey. All of the Richard Roop produced stuff is pricey as a matter of fact, and that’s why he’s one of the few gurus I don’t have in my collection although I have no doubt he and Steve Miles have some good info to add to the seasoned investor’s toolbox. Sure would be nice to snag a good course from them at a decent price like $300 to $500 instead f $1,000 and up!
Options is what I’m investing in… - Posted by Roggie
Posted by Roggie on May 30, 2006 at 16:30:01:
I’m using options to control houses instead of owning them. Then I sell them quick. HUGE r.o.i. I learned from this guy named Steve Miles.
His web site is http://www.60daycash.com
Check it out.
Re: What are investor’s investing in? - Posted by vernon
Posted by vernon on May 31, 2006 at 16:08:04:
I dont know why, but I cant seem to find a buyer for any of the mobile homes I come across.
Re: What are investor’s investing in? - Posted by lukeNC
Posted by lukeNC on May 31, 2006 at 12:18:24:
I’m either buying them on 50/50 contingency or for 20 cents or less on the dollar.
Wont budge for less than 80%? Move on to the next one, there are literally thousands upon thousands of workable judgments.
I force asset sales, bank levies, many many different ways to get paid here. Having attachable real estate is not always necessary.
Re: What are investor’s investing in? - Posted by Roggie
Posted by Roggie on May 31, 2006 at 21:10:18:
Houses are in excellent condition.
Seller motivation is all over the map, but they don’t have to be desparate like in foreclosures.
I paid a pretty penny for those scripts that Steve put together, so I don’t want to say here what to say to sellers. All I can say is it’s not what Ron LeGrand teaches.
Not Roggie but… - Posted by Ryan (NC)
Posted by Ryan (NC) on May 31, 2006 at 08:35:34:
Joe,
I’m kinda surprised your not using options on rare occasions.
I personally use options to control property if I’m not 100% sure about something with the deal. i.e. normally the purchase price or something in DD. I just explain to the seller that I’m not 100% comfortable with the terms of the deal at this point because (insert reason) but with a little bit of luck I might be able make it work for both of us and I’d like to try my best to help them and solve whatever problem that is causing them sell.
I option the property with first right of refusal for $20-$100 and explain they can keep trying to sell at the same time that I am, the only thing that I ask is that if they find an acceptable offer that I be given first shot to buy at the same price & terms.
Then I start marketing the property, which the seller is normally not doing, or only doing half-heartedly. If I can find a good buyer and make a few bucks great. If the seller finds someone else I get to decide if I want the property or if I get my $20 back and we part ways friends regardless. If things don’t go the way I think they should, I walk away and only stand to loose a couple bucks instead of being locked into a bad deal.
I agree 100% that purchase and sales agreements are a must with killer deals but the marginal deals are where options are best used IMHO. That I can recall I’ve only had two people tell me no about using an option, it’s just another tool in the toolbox.
Newbie Disclaimer: Even with options you still MUST have a good mark up on the property, please don’t go out and try to option a property worth 100k for 95k hoping to make 5k. You will loose!
Best wishes,
Ryan Needler
Re: What are investor’s investing in? - Posted by Mike (Seattle WA)
Posted by Mike (Seattle WA) on May 31, 2006 at 16:31:31:
Lol - it all has to do with the price, terms, and how you market them. If you sell on owner contract for $200 a month (or so) over 3 years (or so) with 10% (you guseed it, or so) down, many people will be interested.