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All Forum Posts by: Chris Murdien

Chris Murdien has started 8 posts and replied 38 times.

Question to the apartment owners, management companies, single family portfolio investors and the like.

Would installing solar panels on your income producing assets make sense if there was no upfront installation cost and you could "bill" the customer for electricity that the sun produces for each property?

Post: Hard Money Refi - Texas

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 12

Hi,

I rehabbed a house earlier this year and have been paying an interest only hard money loan for almost 10 months.

Can anybody recommend a lender who can refi me out of this hard money loan? 

Post: Consulting Fee? Wholesaler

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 12

@cameron,

I wholesaled two REO properties; both were my first wholesale deals.

1st method. End buyer cut me me my assignment check post closing. Risky but there was trust. 

2nd method. Instead of "and or assign," the buyer on the contract should be a trust. Make yourself the trustee of that trust and sell your trust to another trustee. 

I know this post is old, but as I'm looking for answers to a way to wholesale another property, I came across this. Hopefully this one "yes you can do it" offsets the 3 ignorant answers for others who come across this thread. 

Thank you. I've been looking for 2 years for a way out of this current loan.

Originally posted by @Jaysen Medhurst:

@Chris Murdien, your challenge is going to be the relatively low values of the condos. Lots of lenders won't touch anything below $75-100k each. Talk to all the local banks and credit unions. Ask about a "blanket" loan, which would wrap all the properties under one loan.

After taking over an LLC that controls 4 condo units, each with mortgage balances of $13k w 75% equity, I need to refinance into a more favorable mortgage. Who can help me refi this?

Post: Backing off an assignment contract

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 12

@Charlie MacPherson dope answer.

@Cody L. You're right Cody. The daisy chain gang is crazy.

3-5% is what we ask for. But we also require a non- disclosure from everybody and POF if you're ready to purchase the contract.

We can continue to communicate offline vis email; I just came across 10 units directly across U of H. I already called U of H and someone from their team is already looking into it. Allow me to follow my process, agree to thr non-disclosure; I won't waste your time Cody.

Post: What's the best way to market off-market apartment deals in TX?

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 12
Originally posted by @Ryan Johnson:

Boris Sanchez with Sanmore investments brokers some MF deals in Houston. He also owns apt complexes in the city. He’s on Facebook and Sanmore has a web page but I personally have never done business with him. 

I can likely get you his contact info if you PM me. I have a friend that’s bought 2 complexes just outside of Houston that he brokered. He also does lectures in the city etc.

 I'm on his mailing list and he is very active. Thanks

Post: What's the best way to market off-market apartment deals in TX?

Chris MurdienPosted
  • Rental Property Investor
  • Posts 41
  • Votes 12

@Dennis Maynard right. We don't need licenses here in Texas.

I'm still looking for answers on where to market off market deals as I have a bunch of multifamily opportunities where I'm direct to the sellers here in the Houston area.

We already scratched the idea of hiring a BROKEr (a wholesaler often times have better deals than broker) and the false assumption that I need a real estate license. Now can anybody that has wholesaled or even purchased from a wholesaler share what platform was the deal introduced?