The Best Strategy: Start and Make Offers

In this episode, Jeff gives an update on their business: finding
lots of properties with a good margin, looking for smaller deals
with high CAP rates, and long term holds. He talks about how to
deal with a mobile home park commercial deal, a limited business
model, and a limited opportunity with a high market price. He
covers how to set up different business entities, a
grandfathered-in house that has no records, and dealing with the
holdover tenant in a subject-to deal. Another topic is choosing
the best strategy for a deal: lease option with built-in equity
versus a cash purchase. He finally talks about the best way to
start this business, a strategy he has mentioned before regarding
$30,000 homes plus different recommended lenders.


Mentioned Resources:


Ron LeGrand

Craigslist

Money

BiggerPockets

Connected Investors



In this episode we covered:


00:38 – Start-up and welcome to the call

02:12 – Dealing with a mobile home park commercial deal. A
limited business model and a limited opportunity with a high
market price

23:54 – Setting up different business entities

27:32 – Grandfathered-in house with no records

33:35 – A subject-to deal and dealing with a holdover tenant

36:17 – Choosing the best option in a deal. Lease option with
built-in equity versus cash purchase

42:39 – Business update. Finding good margin properties and
looking for smaller deals with high CAP rates and long term holds

44:30 – Best advice starting this business

45:57 – Going over strategy regarding $30,000 homes

50:12 – Recommended lenders

55:20 – Wrap-up



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


Multimedia:


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