All Forum Posts by: Justin Fernandez

The VA loan has an option that will assist with rolling in the rehab with a fixer upper. So if you can I would avoid the FHA if youre going to occupy and have not maxed out the loan. I would also check to see if the 417K cutouff is still in effect, but you can get the jumbo as well. I would consult with a professional that specializes in VA loans. Maybe House hack the first year or two, since the VA loan has higher upper limits for 2-4 units. Thanks for your service.

Welcome Shaun,

Your best bet is to get one from a real estate attorney. You can create a relationship and have a pre-vetted contract. People are hesitant to give them out simply because of liability. While they got it vetted, you may change it for your benefit. You could see why someone other than lawyer would be hestitant to give you one. 

Another point, people are more likely to respond to questions than requests.

Good luck and hope this helps you on your journey!

Really just depends on how you want to play your game. You can do it the way @Aaron Mazzrillo does, or @michael quarles does. Both are licensed but are on either side.  Aaron wholesales, Michael wholetales. So really, you just have to figure out what you want, and how you want to go about it as long as you follow the rules. 

Has he spoken with his Loss Mitigation officer? 

Has he tried a loan modification?

Has he tried forebearance? 

Has he tried to cure the loan himself?

Has he tried using loan companies like prosper to cure the loan?

90%LTV is difficult since there is no relationship. So your HML won't really want to help (Not an investor, no relationship, no experience).

A call to his officer is his best bet. The smaller the bank the better, but it's the 11th hour. 

Hope it helps!

Are you referring to a daisy chain?

Hey, utilizing the system comes from knowledge and the internet! If trulia doesn't give you the number use the other multiple sites that have it. Redfin, Tax assessor, Rentometer. But understanding repairs is easier said than done but there are ways to leverage time with ability to learn. Pick up J Scott's book. 

But really, before you even start using the analyzer, what do you want to do with RE? How do you want to get there? When do you want to get there? What niche of the market do you want to tackle first, last or not at all? Learn about your market and understand inventory and what metrics you should pick up. How is the economy of your market? How will this play into your strategy. 

Analyzing the deal is the easy part. It's getting the data and how valid that data is. 

Hope this helps on your journey!

-see previous disclaimer. 

You can shop around bud, but you want on your team anyways. If your state is title or lawyer either one can provide a copy for you to use. 

-Not an attorney

-Not legal advice

-Just advice from another wholesaler

No. You need to create some type of protection for yourself and one that is compliant in your state. 

Seek an attorney's advice. It is easier to be honest, ethical with valid protection. Remember you can be sued for false pretenses. You can be sued for tieing up property, but you can avoid this with a legitimate contract. 

if your budget is the issue, check out beltline.org. If you meet the housing requirements, they will make the down payment and you own the loan. I think they even forgive it after 5 years. Worth a look if you meet the requirements. If you're looking there, you might as well give it a go. 

Thanks bud. It's what I love about these forums! I'll gladly help anyone because people gladly help me!