"Deals On Wheels" Report

Freezing weather doesn't stop a true real estate investor!

On Saturday, 36 of us loaded onto a heated bus and made our way out to look at 11 properties.  It was a fun day and the consensus is that we should definitely do this again.  I believe everyone that was on the bus learned a great deal about all aspects of investing.  We started in single digit weather with snow coming down and piled onto our bus.  Then it was off to Hamilton Hill  to show that just about any neighborhood is a decent neighborhood if you're a professional real estate investor.  Of course we looked at properties in several different areas. We put together a team of an inspector, an appraiser, a realtor, an attorney and mortgage broker to put all of the pieces of investing in any property together. We had Pete Schaming from Excelsior Home Inspection on board.  He gave us an overview of what was wrong and also what was good about each of the properties.  Rick Ley, our appraiser, gave us a best guess at values as most of the properties we blind sided him on, so he didn't have a chance to comp them. I think he was pretty accurate in his assessments. Thanks Rick.  Dave Alling (who is a contractor but don't tell anyone) gave us an estimate of what repairs would be on the high side.  Lorrian Gagne from Buyers Choice told us what she'd list them for if they were in market ready condition.  Rex Oliver from 1st Metropolitan reviewed some mortgage options.  How come Brookview wasn't on this bus?  Maybe next time.  Todd Burnham from the Burnham Law Firm discussed contracts and disclosures.  All in all it was a lot of fun.  We had a great group of resources for the new and semi seasoned investor to tap into.  Isn't that what this is all about? I believe there will be several offers being made over the next few days.  Next bus trip is March 24th.  Click here to sign up for the next "Deals On Wheels". Click this link to view photos of Deals On Wheels in action: Deals On Wheels Photos 01272007