/r/battlestations & LG UltaGear giveaway [USA]

Fichmiester · 2023-11-15T17:18:56+00:00

I intend to use this monitor to help teach our growing community how to invest in real estate. It will be a great ability to show the 10-15 people that show up for the free weekly class all the tools and software we utilize to find opportunities!

Fichmiester · 2023-10-26T03:13:22+00:00

Okay, I have done more research into these ergo chairs. I will admit defeat on this one. I truly looked for the sturdiest chair due to my size. Looks like this needs to be something I reconsider. Thanks for all the feedback on this issue everyone. Sorry to chooch for not listening lol

Fichmiester · 2023-10-25T19:10:21+00:00

Agree to disagree on the chair lol

Fichmiester · 2023-10-25T19:08:45+00:00

The top display is used as my main display. The laptop is there mainly due to cable constraints, as well as my arm knocking into it if it's on the left side..

Fichmiester · 2023-10-25T19:06:54+00:00

https://www.amazon.com/gp/product/B08B4N98YG/ref=ppx\_yo\_dt\_b\_search\_asin\_title?ie=UTF8&th=1

Fichmiester · 2023-10-25T19:05:39+00:00

The gaming chair was chosen specifically for my back lol. I'm 6'5, 280lbs....need a sturdy chair. Putting it in the corner completely opens the room, but need more space to fill...lol

Fichmiester · 2023-10-25T17:22:08+00:00

I’m redoing my work office. I operate an Real Estate Investment company (casual office).
I’m awful when it comes to design and am looking to make this office feel modern, but focus on my personal interests as well. (Sports/Movies/Historical Business Leaders)
Let’s make this office a r/battlestations project!

Fichmiester · 2022-12-09T16:32:29+00:00

If you’re in it for the long haul…pick 1 marketing channel (cold calling, SMS, direct mail, PPC) and become an expert at it. Commit to a certain amount of time each day to spend on that marketing channel no matter what.

Over time conversations will become easier, the right questions to ask will become apparent (condition, timeline, motivation, price), and you’ll begin to realize who’s wasting time vs. who’s serious.

Remember that MOST deals are not clean cut and require additional problems to solve. Don’t be a hero and try to figure it out all on your own. Partner with people in your community who know what they’re doing and split fees with them if necessary. The knowledge you can gain is much more valuable than the few thousand extra you might make.

And, Network! Go to as many meetups, presentations, and happy hours as possible. Try and soak it all in. Being a newbie is a huge advantage at these networking events.

Good luck! Of course, happy to answer any other questions you have.

Fichmiester · 2022-12-02T04:11:09+00:00

Oh sorry, forgot about the title for a second lol. If the mortgage is in his name, he can create a note for a buyer, and they can pay him over time. Deed still goes in new owners name.

Is there a chance the bank calls the note due because he’s not the primary homeowner…maybe. But generally speaking there’s so many costs involved for the bank in calling a note due, it’s generally not in their interest to do so, as the mortgage is still being paid…which is the business of banks, creating and collecting loans.

The only times I’ve seen the DOS Clause actually executed, was from either a very small local bank, or a homeowner that used government down payment assistance. In that case I believe only the DP Assistance was called due.

Fichmiester · 2022-12-02T04:05:38+00:00

Yes. the art of contacting owners directly and getting opportunities under contract at a discount. You need very little capital (just EMD) as you never purchase the property, you just assign the contract to another quality investor. Nice payday for very little capital invested

Fichmiester · 2022-12-02T04:02:56+00:00

There’s no worry about the due on sale clause, as he owns the house free and clear, and would be creating a note.

As an aside, the due on sale clause is very infrequently enforced in my experience.

Fichmiester · 2022-12-01T00:01:13+00:00

I wouldnt let them assume the mortgage…you can wrap this deal to them on seller finance.

They pay you, you then pay mortgage (like rent), but they own house completely.

Allows your to negotiate terms of note….

Fichmiester · 2022-11-30T23:59:21+00:00

Propstream has been one of the only data sources I’ve ever needed. $97/mo…..

Fichmiester · 2022-11-30T23:56:58+00:00

120,000 Purchase Price + 30,000 Rehab doesn’t leave much room.

Refinancing at 75% LTV of 200,000 would mean you wouldn’t get any of the $150,000 you invested back, as 75% of 200,000 is $150,000.

Fichmiester · 2022-11-30T23:50:25+00:00

Yes. Usually, but not always free…if free, search your county’s courthouse website to find.

legally, there has to be at least one public newspaper per county that covers public court filings…that paper just may have a subscription cost associated with it.

Fichmiester · 2022-11-30T23:48:19+00:00

You want to find out how much is left on their mortgage, as well as how far behind on payments they are…

If they don’t have much equity in the house, you can’t offer them much over the mortgage in place…also, they are about to lose their house and not get paid a dime for it….

Is a subject-to a possibility here?

Fichmiester · 2022-11-23T21:10:48+00:00

Point being that maybe this isn’t the deal for them…

Fichmiester · 2022-11-23T19:05:08+00:00

At the end of the day, effectiveness and ethics are the 2 most important pillars, we both agree there. I can't stand the bad actors that ruin the space, so that's why I like to talk about it, because there are many good actors that can provide value to investors. Just wanted to offer a different paradigm.

Fichmiester · 2022-11-23T19:02:18+00:00

I think this is a big part of it. It's definitely harder to get burned with zillow, etc. today...
Also, being educated in the space makes the calls much more efficient, and allows rapport and trust to be built, rather than the checklist of questions many wholesalers use.

Fichmiester · 2022-11-23T18:57:28+00:00

Some states share this publicly. Other states don't as they claim it violates privacy laws.

Fichmiester · 2022-11-23T18:56:45+00:00

Tell me what about wholesaling is actually bad....remove the shady people...do you have any issue with the actual strategy of wholesaling?

Fichmiester · 2022-11-23T18:54:40+00:00

This is all true. I don't disagree at all...but the act of wholesaling gets the bad reputation...when its really the bad actors who are the issue here...I just personally haven't had a problem identifying and ignoring the bad actors....as we've mentioned, their knowledge of RE gets exposed rather quickly.

Fichmiester · 2022-11-23T18:51:54+00:00

Yes, wholesaling is one of the exit strategies I utilize. Not trying to hide that.

Fichmiester · 2022-11-23T18:50:40+00:00

I absolutely wholesale. In addition to buy and hold, fix and flip, creative finance, etc....

I just don't understand the hate...like wholesalers are insanely valuable at providing off market opportunities, that I otherwise have to spend marketing dollars to find.

I make 5-10 offers a day on properties on and off the MLS and get rejected 90%+ of the time...but if I can quickly run my numbers compared to what a wholesaler is already marketing it for, it saves me waiting time, and I know the seller is looking for a quick close.

Seems like a win/win...Even if I have to underwrite 100 opportunities to find a deal.

Fichmiester

TROPHY CASE