All Forum Posts by: Brendan Moehn

@Alexander Trotter sounds great! I'll look for your message.

@Alexander Trotter

It is my understanding it is not illegal. You can do 1 wholesale transaction per year, otherwise if you do more than that, then you need to be a licensed realtor.

I purchased a property from a wholesaler in Aurora, but have not wholesaled any properties myself.

@Richie Thomas Do you mind if I ask why you decided not to pursue the mentioned property?

@Richie Thomas Did you end up purchasing the property? If so, how'd it work out for you? I have one rental in that area that's doing well and currently looking for more, so always interested in conversing about the neighborhood!

@Carrie Alluri I've been looking and with Covid, everything seems to have tightened up leading to higher interest, lower LTV, etc.

I haven't used them, but I got info from The Dominion Group for up to 85% loan-to-cost on purchase, up to 100% of rehab, up to 65% ARV. IDK interest rates and fees, though. Likely 10% + interest.

Looks like a solid deal! What property manager did you go with? 

@Joshua Schindlbeck sounds like a solid deal! Have you done anymore or still doing deals on Aurora?

@Ruslan Isakzhanov as noted above i doubt you'll be able to profitably build a multifamily where you'd want. There are multifamilies in Aurora but as noted, most are not in very desirable areas. However that also depends a lot on what you're looking for. Good schools for kids? Unlikely to find unfortunately. If you don't care about schools you may be able to find decent neighborhoods with multifamilies.

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I'm looking forward to the podcast! 

I purchased the rental application from Mike Butler's website ($5) and it's about as thorough as you can reasonably get on one page front and back.

As far as credit check agencies, IDK if I've heard of any better/worse ones. I've used MyRental.com with good luck. Cozy.co is another many ppl use. I know there are plenty more out there, but not sure one is any better than another.