All Forum Posts by: Brian Rowles

I want to say thank you for all the Comments and suggestions. I do plan on giving the buyers realtor his 3%. And I am going offer my realtor 1%. 

To answer the question On how she was able to let the realtor in the house, I had put a lock box on the door  the day we signed the mutual release, she told me she had previous clients that wanted to look at the house that day so I gave her my lockbox number.  

@Jay Hinrichs she is her own broker. :(

I am not sure what to do looking for advice. I bought a house December 31, 2018 from a realtor in Indiana. The house was rehabbed and put back on the market with the same realtor on May 24, 2019. The house was shown 57 times with no offers. I asked my realtor to Have an open house I wanted it blasted on social media and an email sent to all local realtors that I would be taking offers over a certain amount, which was about $15,000 less than asking price of 79k. I want to make a big deal out of it was going be cooking hamburgers and hotdogs etc. etc. Basically she told me that she thought I lost faith in her ability to sell the house and she thought we should part ways. That was about a 12 days ago. I signed the mutual release send it back to her, she received it took her signs down and left me the key. I put the house on Facebook marketplace had approximately seven showings in one week. A young couple wanted to make an offer so they got a realtor to make the offer. Their realtor went into the MLS system and saw my had realtor never took her name off of this listing so he contacted her for another showing this morning. She allowed him to show it and they made an offer. now she wants her full commission even though I bought the couple to the deal and the only reason she was contacted was because she never took the listing out of her name. Is this a normal practice? Do I have any recourse in this situation or should I pay her the commission and be done with it?

Ok, I know we all have fears about this real estate investing adventure we are on. I feel I have a good base knowledge of how to buy houses and what to look for. I have found a lot of good deals but hesitate on pulling the trigger because I don’t know what the ARV will be and what the banks and or Apprisers look for. I have bought one house and have an offer on another using my own money (houses cost under 50k with rehab, so hard to find private money under 50k) How do I get a better understanding of what banks are looking for to refinance or in my case finance homes I already own. God Bless Brian

Hello, 

I am new to real estate investing, been doing a lot reading and watching video's and pod casts. I feel I am ready to jump in the game. I have been looking and researching hard money lenders just to find out there is a lot of lender who keep wanting to throw money my way (this makes me happy, I think) I am not sure what is a good deal in hard money lending. I have been offered 75% of the purchase price and 100% of the rehab, 80% of the ARV and 100% of the rehab but I have to have at least 15% of the loan and 3 months of payments in an account set aside for that deal, another one was $150,000.00 9.9% one time fee zero interest for up to 24 months on a revolving line of credit, and a few variations of these deals. I have excellent credit, not much debt besides my residence, not sure this matters, but it make me feel good :). lol

I am curious what hard money lenders y'all have used and what kind if deals are out there. 

I am looking for something like an 70%-80% of the arv at 12%-15% and no more than 3 points for 12 to 24 months interest only. 

Any input will be greatly appreciated. 

Brian 

Thank you for your help. I was able to get in contact with the owner of the home and she might be willing to work something out with me. Thank you again for your response, very helpful! 

I am interested in a house that I know is in foreclosure  , I have contacted the trust company, they refereed me to the mortgage holder.  The mortgage holder  said they could not give me any information on house until it goes up for sale.  Am I taking the right steps, or should I have done something different?

Your input is greatly appreciated. 

Thanks Wendy, big help!!

Thanks Jeremy!!!

Hi, I am wanting to refinance my current home and then either seller finance or lease option it. Do I need to tell my new mortgage holder of my plans. I have lived in the house for about 15years.