All Forum Posts by: Alejandro Flores

If you want to make a quick cash and not worry so much about the funding or the house, wholesale the deal and get quick cash. You can easily make 5k. For example you found a house and you have it under contract at 50k assign the contract to me for 55k and you make 5k 

Ok no, get your funding first then find the property. If you can get 70% - rehab offer accepted then you should have no problem finding the money. What's hard is finding the property. I'm doing DM to get my house, that's where you can find the best deals (off market).

You have to be 18 or older to put a house under contracr but your dad can help you, just put it under his name

Well, congratualtions on getting started. It took me 6 months to find a wholesale deal but fell throurgh 

Yes, you can but make sure your number are strong. If you have any other questions let me know I might help you. @Account Closed

@Brian Gibbons The ROFR  Is basically tenant has the option to buy the property at a certain time as getting first dibs on it. 

@Steve Vaughan I would love to hold the property since it's value from last year has gone up to 49% more. A lot of investors are buying like crazy in that area. In the property street only, there are around 6-8 flips going on (not gone out for sale yet). But since I need money to pay my tax for next year and bills, cash is needed for me to continue. You said lease option could give me a pretty good amount chunk of money right? 

So I bought a house with No money just 2,500$ for closing, my lender is giving me 100k at 7% interest for a year.

Bought the house at 63k putting in 25-30k into the house and once I fix it up I'm thinking of refinancing it with a bank. The appraisal will say it's worth 120-130k. The bank will loan me 75% LTV, I'll put if any what's left to pay (I'll have 60-70% equity)

Since it's my first house ever bought I'm going to take the advantage of first home buyer where I can get pretty low interest. 

Then set the property for sale by owner with owner finance at 145k, ask 10-15% down payment with a higher interest rate (not too much). I'll put 5-year ballon. 

Get a real estate attorney to give me the right papers and protection. Once I have a buyer set up, I'll set up a loan service company to manage the payments. I'll get paid the down payment and cash flow will come in.

Let me know if there is a mistake or something where I can do to improve!