All Forum Posts by: Account Closed

So many options here- 1. Contract for deed for 12 months while you rehab 2. Contact your local title co. for the contract. Use this- my bank won’t give me the money unless this property is repaired. I will fix it up, and refinance it in 12 months.

David Hildebrandt I just heard of this last week. I will be honest and upfront... unless you want to do 1 deal a yr... that isn’t going to work to becoming a mogul—- but you can be a rich 60 yr old utilizing that strategy.

Do this—— Contract for sale for 12 months—- get a 10-15k credit line at Home Depot (pay off in 60 days!) And then get some short term financing for the repairs—- if you have an LOC,great! This should take only 60-90 days for the full reno unless I am missing something.

Try this- I owner financed a property for 12 months- and told the seller my plans to fix it up, and rent it out. I put 45k into the complex, and after the appraisal upon completion it appraised for well above asking and the 45k I put it—- hello infinite return! Run the numbers and see if that will work. Paying for two closings and holding fee’s essentially is dumb. Tips if your seller mentions “cap rate” etc—- they may be too smart lol... and I only make offers subject to me being able to make the offer directly to the seller!

Jay Hinrichs What do you think about townhouse community’s? Of course we all want to build and HOLD—- but ya need to sell for $$$ of course. 2-4 units is a great play as well- why limit oursleves? Me, never. Looking online GC liscense seems to be a pretty reasonable process to achieve??

Originally posted by @Jay Hinrichs:

Originally posted by @Account Closed:

Jay Hinrichs and many can’t. Too much debt and self esteem issues, anxiety etc. Why do you think I am moving my business to manual labor and trades i.e home building, new construction etc.

NO ONE WANTS TO DO IT! US Pop to double by 2050- Renters, Renters everywhere. But the problem will be the proletariat voting in pols that are anti-landlord.

On your new builds do you do any type of Contract Sales post build? Big down payment, foreclose in 4-5 yrs repeat? No maintenance?

NO need to we cash out within 10 days of CO  .. I reserve the loan to own to those who say they are helping the poor people when in fact they charge them more make them maintain the home then rip it away.. not a fan. 

GREAT! 

FOR THOSE W/O EXPIERENCE--- WHY NOT JUST BUY A HOUSE WITH YOUR FHA? AND START THAT WAY--- IN 2-3 YRS OF REPEATING YOU WILL HAVE YOUR "EXPIERENCE." I BOUGHT AN OFF MARKET 4-PLEX 4 YRS AGO, IT GOT ME GOING AND I LEARNED MANY LESSONS ETC.

Awesome Story Mark! CHEAP is a very expensive word my friend. Learned that the hard way a couple yrs ago on a deal--- lesson learned Yes? Yup.

Jay Hinrichs and many can’t. Too much debt and self esteem issues, anxiety etc. Why do you think I am moving my business to manual labor and trades i.e home building, new construction etc. NO ONE WANTS TO DO IT! US Pop to double by 2050- Renters, Renters everywhere. But the problem will be the proletariat voting in pols that are anti-landlord. On your new builds do you do any type of Contract Sales post build? Big down payment, foreclose in 4-5 yrs repeat? No maintenance?

Jay Hinrichs they get it because it is the “easiest” play... but in all honesty. It is “easier” finding someone or firm with money, and no time to partner with... God forbid you split something with someone 50-50 for all of your “hard work” etc. Lame. Pay your dues. At 26 yrs old, even I know that s”””. Also if I might add. In my opinion- if you want to stay small, think small. But if you have a goal to build a 1000 units- better think big. Big money. Big team. Etc. But what do I know? Im a snowflake millennial POS!