All Forum Posts by: Brian Lenz

Thanks for the quick responses.  I'm very impressed.

@Victoria Winters @Jonathan Quintanilla I'm looking for a wholesaler to buy from.  I have done some wholesaling myself and am transitioning into rehabbing and buy and hold investments.  Wholesaling is not what I want to focus the majority of my time on currently.  I have an active marketing site and also send out targeted direct mail to bring in leads.  I want to start building a team and one of the key components is a wholesaler.

What I'm looking for is a wholesaling partner that can follow up on the leads that come in from my marketing and get the deals under contract along with finding other deals.  I'm open to discussing compensation with anyone who is interested.  Currently, I'm thinking along the lines of an upfront assignment fee plus a % of the final profit from the deal.  PM me if you want to discuss details in more depth. 

I'm looking for a wholesaler to partner with in the Fort Worth/Tarrant County Texas area.  Does anyone work with someone you are willing to recommend?

I'm not looking for one of the large wholesaling shops that are present in town, but instead an individual who is focused on wholesaling.  It seems to be a challenge to find a good wholesaler in this area.

Thanks in advance for any suggestions!

-Brian

@Tim Bishop @Jeff McCaskey 

My last post didn't link to y'all for some reason.

@TimBishop 

 Thank you!  If the lender accelerates the current note I will take out a personal mortgage on the remaining balance.  Hopefully this won't occur if the note continues to perform and bring in a decent (5.5%) rate of return for the lender.  As for value, I consulted with a real estate broker and she told me that the house will appraise for around $100k based on recently sold properties in the area.  My price may be a little high at $110k, but it is something that I'm willing to adjust if I don't get any interest.  This is my first go, so it's all trial and error.

@Jeff McCaskey 

This deal would be very tight as a rental and nearly impossible as a flip, it will have to be owner occupied. The current owner is facing foreclosure, still owes $92k on the property and is 7 months behind on payments ($10k to bring current). The market value is around $100k and that was given to me by a local broker who ran comps. The property is in good condition with little to no repairs needed to be move in ready. Average rent for this area is around $1095/mo. The current terms on the note are 5.5% APR on a 30yr note with a deed date of 2007. The owner is leaving all appliances except for the washer, dryer, and fridge. If I can owner finance the deal to a buyer at a 9%APR with 10-11% down ($100-110k sell price) my monthly cash flow will be in the neighborhood of $190-280.

I would appreciate any bit of advice you can provide.

Thanks for the interest!

-Brian

Hi All!

I recently acquired a property in south Fort Worth, TX.  It is a subject-to deal that I am planning on selling owner financed.  I'm currently looking for a buyer and need some help.  If you know someone who is looking to buy in this area, let me know.  Poor credit is not an issue.  The house will be available for move in on March 1st.

Property Details:

Address:  9005 Hunting Green Ct.  Fort Worth, TX 76134

Year Built:  1985

Size: 1,402 sqft  3/2/2

Sale Price:  $110k

Down Payment:  $11k

Term: 30yrs

Monthly Payments:  between $1,135 & $1,180 depending upon insurance amount based on the buyers credit score (this includes principal, interest, tax and insurance)

HOA: none

Let me know if I left out some important piece of information.

Thanks,

Brian