All Forum Posts by: Terry Burger

@David T. - How do you like to structure your JV's?

@Ndy Onyido Do you know when the seminar will be in Atlanta. I want to look it up.

Thanks.

I would tear it down. I've worked with home buyers for 13 years and they are going to go in there and say "what should I do with this?". Gardners would be a less than 1% subset of the market. If it's my flip, it goes. Hope the advice helps. 

I scanned most of the posts here and didn't see this suggestion:

What if you found a trusted person to lend your money on your behalf. Someone who knows the real estate game, perhaps an agent/investor who has a lot of experience and can spot a deal. He/she doesn't lend the money unless they know for certain your interests are protected. 

You become a private money lender at say 10 to 12%. The "lender" charges a couple points, that's how he gets paid, and you're paid a 10 to 12% rate and hold a first mortgage secured asset in the property. 

In the Metro Atlanta area, hard money loans are anywhere from 13 to 16%. There's definitely a value play and people like me that hate paying rates that high. There is a market here for California rates on money. 

That's a pretty passive strategy with low risk.

Nice job Julie!

Keep your eyes on subdivisions up Baker Road in the 30144 zip code. Near Pie in the Sky Pizza. I had a rental in Winterset that was a cash cow for us. Bought it for $115k, rented a year for $1300 a year, almost turnkey, and sold for $165k a year later. The deals aren't quite as good in there anymore but I feel like rents are high because of the KSU crowd. 

Winterset is one n'hood, and I think Summer Stream might be the other.

Jerry, thank you. I don't know how I missed it. This is what happens when my wife asks me to find something in the pantry. 

Hello BP family. I need some help analyzing the nuances of a deal. 

I am buying a house where the mortgage stays in the current seller's name. I'm going to buy the house but pay the mortgage for her since she has such an unbelievable rate. I want to pay her mortgage for 7 years and then I would need to refinance or sell the house. 

What is the best way to structure the contract for this type of deal? Are there any pitfalls I need to watch out for? Due on sale clauses, etc. 

Thanks in advance for the advice.

I love ListSource and use it for almost all of my lists. That said, I would like to build a list that includes the age of home in my list. Does anyone know of a provider that includes this filter? Thanks for the help.

Julie,

Transitions property management. Great company, I know the owner personally.

http://resultsthatmove.com/

OK gang, wanted to get the BP investors' opinion on this scenario. I had a house under contract for $75k, ARV on it is $130k. Needs 25 to 30k in repairs. 1,200 square feet in a great location. Discovered a convicted rapist from 2002 lives directly behind the house. I bailed....what would you do?