All Forum Posts by: Rick Cutrera

I'm interested in modular building (as an investment)

This company is holding a webinar Thurs 4/29 2-4pm EST.  I don't know anything about them but was given to me as a referral

here's the link

https://www.s2amodular.com/events-gtw/

or go to their home page under events

please reach out if you want to chat post call.

Rick

If a Landlord / Owner has property  that's currently a rental, would there be a tax disadvantage if they sold the rental & owner financed?  The monthly mortgage collected would be considered passive income vs. active on rent?  I'm trying to point out any income benefits of selling owner financed vs land-lording given the person is neutral on either.

thanks

Hattie - thanks for responding.  

The price is $750K and he's looking to settle by the end of the month.  Hard Money Lender is going to make him pay more points to hold the loan.   I have a builder interested but need to protect myself bringing him the deal.  Rick

Does anyone have or can share a document for a real estate finders fee?  A friend is over-leverage with his hard money lender getting ready to foreclose. 

 I have a builder buyer who will buy the property and is willing to pay 3% finders fee.   Any suggestions would be helpful.

Rick

I listened to Podcast #91 (Ben Grise).  In the event a wholesaler overpays what happens next?  Forced closing and / or forfeit your deposit? 

I live in an area of N. VA where home prices start $650K making whole-selling a good strategy.

Thanks,

Rick

what's a bump?  that meant something growing up in Miami but not familiar in Terms of RE.   If I was this owner I wouldn't sell until I had another bird in hand.

I'm after a triplex with a sale price of $800K.  I'm having to "coax" the seller into the deal.  Gross proceeds headed his way will be approx. $100K.  The seller's reluctance is the tax hit and where to move the money after closing.

His gross rents are $5000 per mo. and claims to net "a couple" thousand each month after paying PITI but not sure he factors in repairs or the value of his time spent toward management.

My partner suggest financing the deal at 7% using a wrap around and balloon. 

If he were to accept, he would earn 3-4% over his current note plus a full 7% on the $100K in equity.  

Is my proposal sound? Any other suggestions especially on the tax hit? He might be willing to make a 1031 exchange or open a SEP IRA but the case has to be compelling.

Thanks - Experts of BP

I live in Arlington Va, I've been in RE for many years but have -0- experience as a wholeseller. Area properties range from $650K to 1.1M and by knocking on doors have found a few "sellers" looking to cash out.

I now have a verbal interested seller and buyer. How do I lock up the deal so I can get paid for my efforts? The buyer(s) would happily go behind my back if given the chance. If someone can recommend a podcast or form file, advice or direction that would be terrific. Thanks as always, Rick