Chat Room Transcript with Steve Cook

[Steve Cook started investing in real estate in June of 1998. At the time of this chat, June 1999, he was working on his 47th deal!] Host SCook85 says: Leslie, I find 95% or better of my properties on the MLS, I make a lot of offers about 1 out of 10-20 get accepted....

Cashing in on Roadside Motels

These are classic, overgrown grass, and broken window situations. I am now on my third deal in three years buying a “mom and pop” roadside motel (less than 15 units each) in a rural area for less than 50% of market value. In every case, I bought these...

Getting The Down Payment FOR Your Buyer

As most of us know, one of the toughest things to overcome for our buyers is the down payment. Especially when that down payment needs to be verified. I have on two occasions now successfully overcome this problem both legally and ethically. This is how I do it: As I...

Finding MORE Tired Landlords

This is a “no brainer” technique that allows you to gain access to more tired landlords and close more lease option deals. I wish I could tell you how I came up with this idea, but I truly don’t remember. I have been using this successfully for over...

Have a Repair Party!

I’m very new at this game so I’m not sure if anyone has done this. I just bought my first property (big ol’ home) that needed quite a bit of cosmetic work: paint inside and out, new carpet, new tile, landscaping–you get the idea. My original...