All Forum Posts by: Joshua Kulzer

@Ross Hamilton - Thank you for getting on here and acknowledging and addressing our concerns.  If you can get all of these complex issues addressed, then PiN will be an extremely useful tool that I will be happy to promote to all of my real estate colleagues! 

@Charles D. - The rehab costs were just under $60k.  I borrowed all but $2000 for this project from my hard money lender.  The funds cost me just under $7,000 to borrow.  I am always looking for cheaper money, and I am now connected with a company that says that they can get me a line of credit to work with on all of my projects.  PM me if you want to take a look into what they have to offer. They have daily conference calls to go over the process on getting on the list.  When I signed up, there was a minimum of $2MM loans.  I applied for $5MM.  I can make a lot of progress with access to funds like that.  Still waiting on an answer though.  

1. Below is what they offer:
   
   5yr Interest Only - 5%
2. No Pre-Payment Penalty, No Personal Guarantee 
   Lines of Credit available
3. No credit check
4. No maximum
5. Only a Federal Background & Business Plan required

Thanks for your interest in my project!  I wish you all the success!

Josh

@Alex Olson - I primarily like to do fix and flips in Johnson County, KS.  You are almost always guaranteed to sell; at least, until now.  Even though we are in the times that we are in, houses are still selling to qulaified buyers.  I do look at properties all over the Kansas City Metropolitan area.  I just prefer to invest in locations that I am most comfortable.  I have been fortunate to have built a team to do most of the work.  I just have to make sure that my numbers work and I can walk away with a decent profit!  Thanks for the comment/question!  I appreciate it!

What is your area of interest or focus?  

Investment Info:

Single-family residence fix & flip investment in Platte City.

Purchase price: $72,000
Cash invested: $2,000

Single Family House built in 1888.
3 BR
1 BA

What made you interested in investing in this type of deal?

I have a soft spot for old houses. This house from 1888 was tempting based on it's age and the amount of original pieces that existed, along with the potential to modernize it.

How did you find this deal and how did you negotiate it?

My friend and real estate agent that found it before it hit the MLS. I had just told her that I would be buying up properties to flip and the got right on top of the situation, looking for properties that I might want.

How did you finance this deal?

Hard Money - 12%

How did you add value to the deal?

New Kitchen, New Bathrooms, Increased Square Footage Upstairs to Build Out Giant Bathroom, New Windows, Refinished Original Hardwoods, New Roof, New Paint

What was the outcome?

Under Contract for $204,900.00 - Occupancy Prior to Close at $1000/mo, $2000 non-refundable EMD

Lessons learned? Challenges?

City Inspectors can slow you down by 2 months for very simple issues. They are slow and they don't care about your schedule.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

YES!!! Melissa Burns and Richard Steffen in the Kansas City Metro

I was really hoping more people would have chimed in with their experience with Zumeral by now.  I went ahead and paid the $2500 to get into the pool.  But this is the information that they are asking for.  Please share your thoughts as this looks sketchy to me.  I understand that some lenders do things differently, but this is a situation where I can't find quality, verifiable, 3rd party reviews of this company's reputation.

CIS Application

In accordance with Articles two (2) through five (5) of the Due Diligence Convention and the Federal Banking Commission Circular of December 1998, concerning the prevention of money laundering, and Article 305 of the Swiss Criminal Code, the following information may be supplied to banks and/or other financial institutions for the purpose of verification of identity All parties have an obligation to respect professional secrecy and to take all appropriate precautions to protect the confidentiality of the information each holds in respect of the others’ activities. This legal obligation shall remain in full force and effect at all times.

DATE:

Beneficiary / Client / Company

Client / Signatory Name Nationality Driver License Number Date of Issue Date of Expiration Country of Issue Date of Birth (MM/DD/YYYY) Place of Birth Contact Address Passport Number Country of Residence Date of Issue Date of Expiration Contact Telephone Client E-mail Address

Business Information

Business Name Business Address Mailing Address Registered Office Domicile Country / State of Incorporation Business Telephone

1. Attach a copy of Passport and Drivers License 2. Attach a copy of Social Security Card

I just got off the phone with the CEO. He just told me that you get a minimum $2M LOC at 5% interest. They require 25% to be held in escrow and they can raise it. They also make the interest only payments from the escrow account.

The catch is that you need to pay $2500 to join.  I just want to know that I'm not being scammed and throwing $2500 down the drain.  

Would love to hear from anyone that has had any experience with Zumeral.

Sure Chad.  I'll send you an email!

Josh

View report

*This link comes directly from our calculators, based on information input by the member who posted.

I am just seeing this now, but I am going to do my best to attend!  Thank you for setting this up!  I look forward to meeting everyone.

Josh

@Carol Arnold I would like to learn more about obtaining targeted lists in my area. I know I need to get down to the court house and get lists myself, but would like to know of getting what I want without having to take off my belt 😁