All Forum Posts by: Tim Ball

@Justin Lloyd That is what an option period is for.  If you have no plans to purchase it yourself, just be straight up with the seller.  "I work with a handful of investors who buy properties like yours for cash.  We would be interested in this property for X amount of dollars.  We just need an option period to make sure our numbers are on point."  If you are unable to sell it during the option period, then obviously, you were unable to make the numbers work.  That is what an option period is for.  You have the "option" to back out in a certain timeframe if you can't make the numbers work.  You can be truthful with an owner without saying, "Im looking to wholesale your house, which means I will be selling it for more than what you are selling it to me for."  Thats really none of their business.  You agree on a price that they are happy with.  Whats it to them if you have $50,000 off the property, or light a match to it once its out of their hair?!....know what I mean?....America!!!!!!

@Einar Mykletun Cash flow is king!!! Look at it this way.  Can you pay bills right now on speculation?  If you got into a horrible accident, God forbid, and you could never work again, what will be better for you?  Would it be income coming in every month or the hope for appreciation?  I understand that money is not an issue for you, but it could become an issue if something happened that you couldn't work anymore.  I imagine when senior citizens are retired, they care more about what is for sure coming in every month compared to how much money is sitting in the bank.  Hope this made sense.  Good luck with your endeavors!!

@Sean Kelly sorry for late reply.  Yea, I was saying sell the rental and use the cash that you receive from it and leverage that cash using hard money financing.

That cash flow is terrible. You can take the 70k in equity and buy true cash flow rentals by using leverage of hard money lending/ or conventional lending.  You can do cash out refi to get money out after seasoning title for  6 months to a year and buy more.  

Cocaine and hookers.......Just kidding.  Take the profit and leverage the cash using hard money financing to put rentals.  Refi out of the hard money into a conventional loan with good cash flow.  Build a rental portfolio for your retirement/cash flow later on in life.  Only way to build wealth.  Lets say you use the money to just do flips....great...now you have cash in the bank....now what?  Gotta put the cash somewhere and make it work for you. They say cash is king...no....cash flow is king!!!!

What is their mortgage payment?  Could be a good cash flow rental for you if you did a sub-to deal and caught them up on their payments and became new owner, but keep them on the mortgage. Or you can Get with a short sale specialist in your area.  They work the short sale and try to get bank to agree to a price that makes sense for an investor.

Come to Dallas, TX

Your Net Worth is big as your network.

Welcome.  How much liquid capital are you currently working with to invest? You may have enough to leverage your money with hard money financing if you are looking to start buying properties.

ARV: 610k

Cost: 435k

Rehab: 75k

Hot area! Highly desirable Deerfield Sub! This house sits on a very nice cul-de-sac. The sold comps in the packet are nothing fancy in terms of updates and they still sell quickly. Average price/sqft for the comps is $132.61/sqft. After putting $75,000 in updates, you should have zero issues selling it for projected ARV. Toyota Headquarters in Plano is continuing to expand and will bring more jobs to Plano, meaning there will be a continued influx of people looking for places to live. Perfect project to take you into the New Year!

Call me with interest! 214-690-9010

Cash or hard money buyers only!