All Forum Posts by: Edwin Brown

I will say this, partners always beat lenders. If your deal is really a good deal, talk to family and friends and see if anyone is willing to put up the down payment for a cut of the deal. 50/50 would be pretty fair.

Old valuations are irrelevant to current value. So I'd stick with current comps. Realtors may help, but there are programs like Zillow that you can use without having to use a realtor.

I'd do it like this.
Cash offer 65k
Lease to Own 78k with 2k down
Subject 2 80k with 2k down

I've met with a lot of investors that couldn't find cashflow deals in their area. It really depends on where you live. But we've done very well buying REO's

Hello bigger pockets,
Edwin Brown here. Making some major changes in my life.
In February, I passed out while taking my morning shower. I spent the rest of the day with a terrified wife in the doctors office getting prodded, poked, xrayed and monitored. Finally, the doctor gave me the verdict.
"There's nothing wrong with you, except that you are fat and way too stressed. Change your life or your going to kill yourself"
That afternoon, I turned in my 30 day notice on our office and took a big step back from our investing operations.
After spending a lot of time talking it over with my wife, we decided the best way for us to continue doing what we loved without killing ourselves was to do fewer deals and begin teaching others how to invest.
We started our company Credicast to provide online tools and education for investors that want to use credit repair in their business.

When you say "hud is eliminating seller financing" I'm guessing you are referring to the current legistlation that would limit the number of owner financed deals without a mortgage license. If this is your first deal, you should be ok.