All Forum Posts by: Benny Gelbendorf

Hi Caleb, you have mentioned you are investing in Memphis and Cleveland (very popular investors areas) by following the numbers (pop. growth, economic data), but I have some concern with those. First population growth is negative in both cities, as too higher crime rate in comparison to OH and TN states. Could it be that when you started those numbers made sense but do not anymore ?

Thanks @David S. for the solid advises.

I'll put them into good use.

Hi @Oren K.

I assume that the aforementioned is relevant to official lenders (banks) and hard money lenders.

What about private lenders ? I'd assume ITIN / SSN / credit score is not as important as how attractive is the deal (flip / cashflow rental), Am I correct ?

Thanks,

 Is that the absolute truth ? Are all wholesellers charlatans with bad deals of D-calls neighborhoods ?

I've heard people who made great deals with wholesellers (B, C & even D Classes). I guess what I'm really asking if those are rare, or is it a legitimate source of deals ? 
 

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Hi BP'rs,

I'm a bit behind on my podcast listening pace (but I'll catch up).

I recently listened to couple of older podcasts where Brandon Turner had mentioned that there is a lead generation system in Beta stage for pro members.

Is this correct ? Is the system already in GA state ?

Thanks,

That's great.

As I am in a similar situation as your buyer it would be very interesting to know whe whole process.

Can I PM you about it ?

Hi,

I'm interested in working with wholesellers in several markets i put my eye on (TN, OH, and SC).

I could only find small amount of wholesellers (which are not even in my market).

My question is, where do I find them ? (and why is it so hard to do so)

Thanks,

Benny

@Wayne Brooks @Kim Martin I encountered with a property in TN under foreclosure by the bank and I've been told that for a period of 21 days I, as investor, can not bid on it (fiest dibs goes to people who will gonna use it as primary residence).

I guess this may change on case by case scenario.

Hi @Nicholas Aiola

Thanks for suggesting your service. I think this demonstrate the spirit of BP community (and why I love it so much).

I wanted to ask, since I'm a foreign investor I don't have SSN, than my options to get mortgage on a property are kind of limited (putting a side other financing options).

The only way I've heard of is by forming LLC , creating track record for credit score,getting ITIN and then apply for mortgage.

My question is: does it make sense to form LLC for that purpose, and what will be the tax implications of such a move (or if you've got better idea, I'm all ears).

Thanks,

Benny

Hi Scott,

Have you managed to resolve this issue ?