All Forum Posts by: Chris Delacruz

Hello all

I was wondering, has anyone ever gone to local bank for a loan on their first deal. I was wondering if a bank would pay any mind on your first deal. I dont have a deal right now but was just wondering.

Thanks

chris

Thanks for info will offer my max and move on thanks all

Listed for 84k

So I placed my first offer yesterday on a property, and did my numbers and my MPP was 65k... I wanted to see if maybe I can get a better deal or bite to negotiate and offered 50k..agent said he has been getting numerous offers as low as 47k but seller hasn't given any response. Now I'm anxious and feel maybe I should offered closer to my MPP which is higher but don't know if I should call agent. Should I just wait it out and look for next one

Thanks

Chris

Hello all

Where can you find wholesales in your area?

I'm looking to get on some wholesaler lists in the ny long island area

Chris

hello bp. Im looking to start making some offer, maybe i should start slow by looking at a house first.lol. anyway I want to look in the Long island area and was wondering if anybody know a good Real esate agent to help me get started. Also where can i go to find a wholesaler in my area to find some houses to flip. I should have stated that first im looking to fix n flip

please help

hello BP

well i have been crunching numbers on multiple property and am ready to make my offer on my first reo flip. But every body says i need to providea VOF with my offers. Problem dont have funds to verify because I would like to use a private lender. How do i go about this issue.

Is there an article or something which gives a full detail of doing a deal using private funds, and how to make my lenders feel secure loaning me the money...does there name go on the deed or where in the deal does there info go to secure there money in the deal

sorry so long of a post, and alot of noob questions

chris

Hello all I have two questions I would like to ask 1- when buying REO do they come free and clear, or should I still worry about liens or judgements etc? 2- I have had a couple of people will to lend me money as pvt lenders for deals. But their money is literally cash. How can I use this money Ted deals when trying to show proof of funds to make offers and just in general cause its not in banks and I know banks have issues when depositing large cash? Thanks Chris

Hello all,

I have 3 questions that I am a bit confused about.

1- They always say do your research and due diligence on property, but how can i find out if the property has any back taxes or liens that will affect me later on?

2- I am a bit confused with wording and numbers, when reading about Hard Money lenders, In a book i was reading recently is stated " …a typical hard money loan may be 70-90% financing for 6 months, paying 2-3 points and 15% interest or more." What the heck does that mean? Can someone explain for simplicity sake the arv is 100k and purchase price is 20k, and 15k in repairs how this deal would work out.

3- With those same numbers how would the numbers pan out using private lenders?

Thanks

what other ways are there then to get a good comp of area. Without use of an agent