All Forum Posts by: Daniel Mieldazis

Hey everyone,

I've been doing a lot of research and I think the first deal I'd like to get under way is a subject to deal. It seems most appropriate. It's quick and can yield either a fast money or long term wealth scenario. I also like that it takes little to no cash and we won't have to transfer the deed.

My first question would be, what do most subject to investors typically do to find a situation where an owner is looking to willingly get out of their current situation?

My second question would be about the mortgage company. One investing strategy with subject to deals that I've heard are to, upon reaching a deal with the seller, contact the mortgage company and try to work out a deal to lower the loan on the home. After lowering the amount, you can either move a tenant in to cover that loan and typically generate a bit of positive cash flow. Or, to then sell the home at market value after lowering the amount due on the home and pocketing the difference. The question would be about the closing and mortgage company. Do I need to find an investor friendly mortgage company here in Indy that deals with creative financing and deals of this nature? And if so, are there any investors that are aware of any mortgage companies of this nature. Or does anyone know somebody else that may know a little more about this? I went and talked to the mortgage guy down at the bank to see if he had any connections and the guy was useless..

If anyone has any experience with this type of acquisition feel free to leave anything you feel is important to know. What do you wish someone would have told you when you first got going?

Thanks in advance everyone. I really appreciate it.

Daniel

Again guys, I'm overwhelmed by the amount of support and encouragement I've already encountered through BP. I can confidently say I'm going to be a long time user. Thanks again, and I'll be sure to pay it forward when I reach a point in life where I can be the teacher.

Thanks everyone, I appreciate the feedback. With that kind of response to a simple introduction post, I'm looking forward to the benefits of BP.

Thanks again.

Hey everyone,

Hopping right on into things here.

Over the summer I reached out to a former math teacher I had in middle school. He owns about a dozen or so properties. I had a couple questions for him about investing and rentals. Those questions turned into a pretty nice relationship that ultimately had me mowing yards and re-roofing..

The nice thing is though, that was my ticket. I worked my *** off for this guy so he would see my burning desire to pursue a similar future. I wanted him to "like" me, if you will.

Since, he has had me back multiple times to help with other odd jobs whenever the properties need something. As of last weekend, we are setting up a time to get together and talk about my plan to getting my first house or houses.

I've blown through books these past couple days trying to learn everything I can about this business. It's been a long time since I've been so passionate and dedicated to learning something. I'm excited for what is to come and any of the connections BiggerPockets may yield.

Thanks for taking the time to get to know me.

Tenaciously,

Daniel Mieldazis

Indianapolis