All Forum Posts by: Brian Cam

Hey Guys,

Can anyone recommend a good agent to me?  I'm looking for a multifamily/mother-daughter/2 family house in either Nassau or Suffolk county NY

Hey Guys,

Lately I have been running across High End Home sellers.  Rather than just pass on these leads I would like to give them to someone to make money on.  Can any Luxury agent (or someone that knows an agent) contact me?

I'm really looking for people in the Oklahoma City and Middletown CT markets right now.

Thanks!

Brendon,

Take my advice with a grain of salt because I haven't done it yet.  But my plan is to wholesale properties to build cash, then buy rentals to get cashflow to match my current income.

simple as that.

Hey Bobby,

If you don't want to take the wholesaling route, which is very crowded these days.  I would recommend taking your NY income (which is typically higher than many other parts of the country) and Invest in rental or maybe flips (if you have a good team of locals) in cheaper markets.  

Ex. I live in Long Island where the cheapest investment property is over 100k.  So I'm looking to buy rentals in Philadelphia/Birmingham/Raleigh markets where you can buy properties under 50k and rent them

Feel free to PM me if you need anything

Hey Tony,

I'm happy to say this shouldn't be as hard as you expect.  Since there are 9 other people involved they would all have to agree to the sale.

If you want help with the analysis feel free to PM me and I can walk you through it.

Hey Darrell,

1) Attorneys get paid on the sale of the house.  There fee is wrapped up in the "closing costs" of the transaction.  When you structure the deal, you decide who pays the closing costs.  Your options are

A) Buyer pays all closing costs B) Seller pays all closing costs C) Buyer and seller pay their own closing costs.

As for the inspection.  When you contract a property you should be able to get the investor in there to see it.  I wouldn't show your buyer the house unless its under contract, or they don't need you for the purchase (unless you have a good relationship with the buyer).

Hope this helps.....feel free to pm me if you need more help.

I think your best bet would be to find someone with a multifamily property that needs to get rid of it.  Work out with the owner to either offer 100% seller financing or let you simply take over the mortgage (these options would prevent you from needing a down payment). From there hopefully to can generate enough cash flow from the rented units to pay your expenses. 

Good Luck, and if you have any questions you can always PM me!

I think it could work, but I would have something in writing.  You wouldn't want to put money down only for them to fall in love with their newly renovated house, which now they don't want to sell.

This agreement should also set up a schedule of repairs, because again, the people living in the house might not have the same incentive as you when it comes to making repairs.

I would treat it like any other wholesale deal.  You just need to target Buy and Hold investors as your target buyer.

Get all the relevant information needed to make a decision (rent roll, taxes, condition of property, etc) then just add your profit to the final selling price.

PM me if you have specific questions,

Good Luck!