All Forum Posts by: Andrew Casal

@AJ Wong that's what I thought, but wanted to confirm.

Thank you!

Got an odd question and believe I know the answer but am looking to confirm.

If I bought a property with seller financing, when the note is created the bank would still see the loan under the title correct? It would not appear to the bank that there is no debt on the property correct?

I'm working on locking up a property with seller financing and was wondering if I would be able to get a HELOC right off the bat.

Hello fellow RI Investors!

I am now offering Handyman services for investors in Rhode Island. Currently available for small to medium size jobs within the state that include anything from swapping out a toilet to turning a unit.

I am registered with the state (GC-49691) and insured. If you are interested in having work done on one of your properties, either shoot me a message here on BP or text me at 401-315-4600 and I will call you back.

Thanks,

Andrew

I have a coin-op in the basement so it is only 1 set of machines to take care of.

Good Afternoon

Is there a good resource or starting point for gathering some info on the tax lien rules and regulations for Rhode Island? Looking to get my foot in the door and not sure where to start.

Hello everyone!

My mentor and I are looking for an appraiser to help a potential client in Richmond, RI (about 5 minutes from URI). We are not really getting anything upfront but could lead to several land deals for us. Client has a court ordered settlement so time is a little bit of the essence.

Appreciate everyone's help in advance!

Hello everyone!

I'm looking to switch one of my tenants to automated payments with a service I have been using. Is there a template for a letter to notify them? Looking to save some time if I can with writing a letter if possible.

Excellent job! Congrats!

Investment Info:

Single-family residence wholesale investment.

Purchase price: $186,000

Single family flip lead that turned into a wholesale. Originally my partner and I were going to split the wholesale, but partner wanted to do the flip so I received the full wholesale fee. Wholesale fee received $5k.

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

I am looking for leads both as an investor and as a realtor. Client was very adamant that they did not want to list the house and sell fast.

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

An ongoing Craigslist campaign

How did you finance this deal?

End-buyer provided deposit and obtained hard-money. No financing on my part.

How did you add value to the deal?

Outside and mechanicals were all in excellent condition but interior was very outdated. Final buyer just needed to update kitchen, paint, and replace carpeting.

What was the outcome?

Put under contract for $190k, negotiated down to $186k after first end-buyer backed out. End-buyer putting roughly $25k into house and will list for $265k when completed roughly 1 month later. Wholesale fee received $5k.

Lessons learned? Challenges?

My partner came up with the original offer of $190k and the client jumped at that offer right away. My initial thought was to be more aggressive with my offer as I have been learning from my mentor. I believe a lot of meat was left on this bone for this and it could have been a good opportunity to work on negotiation skills as well becoming more comfortable with making aggressive offers.

Congrats David!