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All Forum Posts by: Brandon Chen

Brandon Chen has started 6 posts and replied 27 times.

Post: LLC virtual address needed?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Chris Seveney:

@Brandon Chen

We just get a P.O. Box

Thank you Chris! I'd have to update that with the state so my LLC reflects that new P.O Box correct?

Post: LLC virtual address needed?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6

Hey BP!

Was wondering, Legalzoom is charging me $30 a month for using their virtual address that they gave to me when I used them to get my LLC up and running. Was wondering if I actually need this? What is a way around this?

Thanks guys! 

Post: Potential Seller Finance deal to purchase primary?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Jonathan Greene:

Anything is possible, but most of the time people are looking for seller finance, it's because they don't have enough money for a downpayment. But they forget they need money for upkeep and maintenance and reserves. Why do you want another property right now if you only want it via seller finance?


I don't need a downpayment because I have yet to utilize my VA home loan, I want another townhouse or SFH in the San Fernando Valley because of where my job is currently located, just makes everything way more convenient for myself. I would rent my Town home out right now and cash flow really decently. I do not want to let any property go though.

Post: Potential Seller Finance deal to purchase primary?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6

Hello BP,

I currently reside in Valencia, CA, I own my Primary residence (townhouse) and a 4-plex here in Valencia. I have been thinking for a couple of days now that I want to purchase another townhome / SFH in the San Fernando Valley, would it be possible to find a seller finance deal to purchase another home in the area that I want? If so, what would be the first few steps in the right direction? Would I just need a realtor?

Thanks! 

Post: Personal Loan for purchasing power in Midwest Market

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Mike Grudzien:

Brandon,
Credit score?  Personal guarantee?  Collateral?  Interest only payments?  Exit plan? 
It helps to provide more info when framing your ask.
My 2 cents,
Mike

Hey Mike!

Excellent credit score (795), personal guarantee I make 115k annually from my 9-5, no collateral at the moment. Also no exit plan, I guess the only solid thing is the loan isn't TOO much. 

Post: Personal Loan for purchasing power in Midwest Market

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6

Hello BP!

Been thinking about taking on a personal loan of 50-70k for purchasing power in my Midwest market, the loan would just be for down payments and closing costs on sub 85k SFH / Duplex properties. Any thoughts or insight? Anyone done this themselves or know someone who has done this before?

Thanks!

Post: Potential Seller Finance deal to purchase primary?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Ellis San Jose:

All are in California. I will meet in person with a potential seller if they show interest. It usually takes multiple interactions to build rapport before meeting in person 


 Amazing! Mind if I shoot you a message to talk a little more on this subject?

Thank you!

Post: Potential Seller Finance deal to purchase primary?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Ellis San Jose:
Quote from @Brandon Chen:
Quote from @Ellis San Jose:

It's rare to find a realtor are skilled with seller financing. However, any realtor can look up those keywords in the MLS to find listings where they are open to seller financing.

I have had better results direct marketing to owners in my target areas & negotiate for seller financing.

 Thanks for your insight Ellis! It is unfortunately rare to find someone with that skill set,  Can I ask what's your go to marketing move? Cold calling? Mail? 

Thanks!

My favorite is to implement a direct mail drip combined with phone call and personal visit follow up.


 Interesting, you do the in person follow up after they agree to terms? I see you're also in CA fairly close to Valencia, you do your SF deals in CA or OOS? 

Post: Seller Financing Questions

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Alan L Donald:

Does anyone specialize in selling properties with seller financing? I own an investment condo, my expenses went up and my tenant just left, and I'm considering selling it with seller financing but want to learn a lot more about it. Can you recommend any courses to learn more about this?


 Where is the condo located? 

Post: Potential Seller Finance deal to purchase primary?

Brandon ChenPosted
  • Rental Property Investor
  • Valencia CA / Detroit, MI
  • Posts 27
  • Votes 6
Quote from @Ellis San Jose:

It's rare to find a realtor are skilled with seller financing. However, any realtor can look up those keywords in the MLS to find listings where they are open to seller financing.

I have had better results direct marketing to owners in my target areas & negotiate for seller financing.

 Thanks for your insight Ellis! It is unfortunately rare to find someone with that skill set,  Can I ask what's your go to marketing move? Cold calling? Mail? 

Thanks!