All Forum Posts by: Account Closed

@Anthony Patton

Try this: interview the “REAL” RE Guys in your area doing deals... see what each of them look for property wise. Pre-qualify them > meaning, make sure they actually have the money to close on a deal... find a deal that would suit their criteria, take an “option to purchase” out on the property. Sell that option to purchase to them. Get paid, even if they don’t close by selling them that option.

Dont waste your time building/fixing stuff/saving $.

Try this out. Then pull out $ for taxes lol and then pay off the debt. And repeat.

@Austin Youmans who did you get your

Loan thru? Those have been hard to come by lately

@Trevor Aydelott lol maybe if you bunk up with 4 other men and they pay you rent... sure.

Awkward mornings and late nights tho lol

@Carey Lynch its a no brainer. Yes.

Here is a basic reason:

You find a motivated seller and give them 3 options.

You can pay 70% ARV. You can pay them full price on Owner Finance or you can list it for them... All three ways you get paid..

And when you buy/sell properties you save $ on commissions and can even make $ via referrals.

Last month I made 15k just on referrals. So yes. Get your liscense and then yr brokers and run your own show.

@Brett Berger easy answer: do you have a tenant/buyer lined to cover the cost?? That is the biggest question. Forget the amount of the loan, focus on the payments, and what tenants/buyers would be willing to pay.

Find a different lender man. You should be able to do soon. I would shop around. 

Look into buying and selling Exclusive & Non-Exclusive property options to investors. Helps with the cash and gets you into the business without any money. BOL

Exactly. You got it.

Reason why I say make sure you have the money/financing first is so you dont look like a jerk to a seller and your agents if you can't close for whatever reason. Not closing on deals gets your reputation killed! Especially in a small town like yours, your reputation to close is pretty much 60-70% of your deal flow once you get going. 

@Dalyn Hazell capital always first. Saves you alot of time and stress. Interview local banks and find out there terms and discuss working capital. Then go interview 2-3 agents per week (bird dogs) and tell them what you are looking for exactly. But do not sign a buyers agency etc.

Open up a home depot/lowes credit cards for 10k a piece. This will help you save alot on financing etc.

Hope this info helps-

Goodluck

@Jason Larson nice.... now owner-finance 3 yr ballon that puppy and get a big down payment ;)