All Forum Posts by: Robin Ferrier

Luke,

what a concise and detailed reply. Thank you very much. Most informative. Do you/ your firm look at notes from all states or do you specialise in a certain area or field?

Robin

Hi, I am new to the concept of holding notes as I am contemplating offering my property with seller finance. I have a property I would like to sell for 30k. If I were to receive money down of say 10k (probably less) and I held a note for the balance, if I went to a note buyer what rate would they likely be able to offer.

It is hard for me to work out if it is better to offer seller financing or offer a reduced price, so the discount on the note could be very important.

Is it reasonable to assume that the rate of discount on the note decreases as the note amount increases? Would 20% discount of a 20k note apply but say 15% for a 200k note. I really have no idea. Can anyone advise?

Does it vary widely from note buyer to note buyer, ie does it pay to shop around or does shopping around lose you credibility?

Many thanks.

Robin

Hi there,

I invest in REO fix and flips in Washington in Indianapolis. I use a group called Investors Choice Indy

They do a great job for me as I am based out of state by about 4000 miles!!

If I can be of any help drop me a line or talk to the guys at ICI.

Welcome to the forum.

Robin

Eric,

thank you for taking the time to reply to my post. Sorry for the delay ion replying. I'm much obliged.

Robin

Hi Folks,

I wondered if anyone could direct me to a good book, article, manual or other document that would give me a better insight into how joint ventures work in the property business. I am looking at possibly getting into a joint venture with a property investment colleague to rehab residential properties to then flip or rent out. Yes, the adviseability or otherwise of this idea is in itself a subject for debate but my main concern just now is to get the JV right, at the very outset. I believe there are many strategies in structuring a Joint Venture but I don't seem to be able to find any good info on the subject. Can anyone provide any guidance as I don't even know if I need/want to set up a vehicle for the JV such as a limited liability company.

What are the pros and cons of a jv?
What are the dangers and benefits?
Are there any particular financial issues I should be wary of?
Are there any goods tips for profits with a JV versus going it alone?
If the joint venture was for projects overseas, would it be better to establish the JV agreement here or in the country of the project.
Any absolute no nos as regards JVs that you know of?
Any success or horror stories?

Sorry for so many questions but if anyone can either guide me to a book or manual, or better still provide any first hand advice I would be most grateful.

Boab

John, thank you very much for welcome and your offer of help. I make it down to London quite regularly so hopefully I might be able to bribe you into telling me all about the US market by using copious amounts of beer and food - I know it works for me.

I spoke to Gypsy today and he spoke very highly of you.

Thank you again and I look forward to speaking to you soon.

Boab64

Hi there, has anyone had dealings with these people or a guy called Roger Farney? They now seem to be calling themselves REAL ESTATE ADVANTAGE. Had recommendations and all the good stuff before I started to deal with them. Didn't hear from them for a few weeks, emailed called etc but they seem to be 'unavailable for comment'. (sounds like an old girlfriend of mine). The new company name is on their answer machine message. Glad to say they don't have any of my money (unlike the old girlfriend).

Does anyone know of a GOOD property manager in Buffalo/WNY?

Boab64

Hi John, Like Gypsy I am interested in investing in the US however with little or no exposure to US real estate I am finding it just a bit frustrating. I know what I want, just not sure about how to get it. I'm not overburdened with cash so trying to make what I've got go as far as possible.

If I may I'd like to pick your brains a bit. there will be no rocket science, I suspect more like 'how do I place an offer?' Hope you don't mind if I email you sometime soon.

Many thanks.

Robin

Can anyone point me in the right direction. I am looking to buy investment properties in WNY and finding it hard as a non resident alien to source a mortgage for several reasons:

1 The amount I want to borrow at any one time is only around $30K-$50K - ie to a lender, not really enough to justify the extra exposure to a foreigner.

2. The necessary funds must be seen to be in my account for anything between 2 and 6 months. I understand in the US this is normal but for me in the UK as long as the bank considers I can pay the mortgage given the last two bank statements, then they have supplied the funds. Some lenders have even lent on the basis of income from rental alone.

Can anyone suggest other means by which I can finance investment properties at purchase prices as low as US$30K. I could pay for the property in cash but to my mind you don't make money by spending all of your own. Any thoughts?

Many thanks.

Hi there, and congratulations on a great forum. It looks like just the place to get the information I need on US real estate. I am an amateur property investor based in UK where interest rates but more importantly house prices have reached an untenable level. The housing market looks set for a major slowdown if not a level off (talk of a crash I think is premature). Has been stratospheric for years. Now I can't find many investment opportunities in my region at a price I want and find the US an interesting prospect. The problem I face is that although I know what I want in terms of real esate services, in the USA at least, I am not too sure how to get it.

I hope therefore if I ask what to many might be silly questions to a local, you'll not laugh too loud at the rookie Brit. On the other hand should anyone like to know more about the UK market, I would be only too happy to help where I can.

Many thanks in anticipation.