All Forum Posts by: Andrew Flora

I get $200-300 per door on my SFH but it's a lower ROI long term. I have some larger MF deals only doing $50-100 per door but will generate great long term wealth. Sometimes I play for supplemental income, sometimes I play for wealth/equity gain. Depends on the deal.

I have a private investor(family friend of mine) interested in helping me fund a large acquisition. His main concern is that he will be in a 2nd lien position and he is afraid of what could happen to his investment if the deal goes bad. Obviously I'm showing him numbers and explaining my system and my past success and he feels safe with me, but he has never invested in residential real estate. How do I convince him his money is safe in a 2nd lien position?

what is the best website to buy notes?

can you get it zoned commercial then build the storage facility?  Otherwise I like the idea of donating it for the tax write off.  Maybe someday the government will purchase the land to widen the highway.

Thank you Patricia,  this is the answer I was looking for!

I agree It’s most likely a scam.  Although I did come across the lender here in Bigger Pockets it still feels sketchy.  I likely won’t waste my time with it but before I walked away from it I wanted to know if there’s a website to look up a license number or a website to verify a business or something like that.

I have recently came across a “direct private lender” that claims to be from a company named Inclusive Properties.  The website is very basic with not much info or content.  I inquired and set up a phone call, after speaking on the phone they quickly offered to move forward with a very large asset based loan but they didn’t ask any details about the property I’m looking to purchase.  It smells fishy to me and I know typically if it’s too good to be true it probably is.  But my question is, how do I find out if they are a legit lender or not?  I would hate to assume they are and miss my shot at closing on a great deal.

Thanks in advance for any help!

@Dominique Mickles just go open a savings account at a local bank they won't give you any trouble

If you're paying all cash you can do whatever you want! The only issue is a lot of title companies require a wire transfer now. You can do this without a bank but if you have $20k just go put it in a bank account for your own good.

Banks want weird things. I once transferred money from my savings account to my checking account to write a check for closing costs at the same bank that was financing me and they held my money and delayed closing for like 72 hours because they claimed it through a red flag for fraud and they needed to investigate where/how I got the money. It was like $2k.i think.

I hate banks so much.

At least 30 minutes per day in the forums. Not real sure about how much I'm here for the calculators and other tools but quite a bit when I'm analyzing a deal. Also spend a lot of time listening to podcasts while driving.

I'm not on Facebook, Twitter, Instagram, etc and I dont listen to much music while driving I listen to bigger pockets and other podcasts instead. I've learned more from podcasts in 2 years than I did in college for four. We're an extremely lucky generation, there's never been this much free education and resources available.