All Forum Posts by: David Ramirez

Yes, but not for rental listings.

Price per square foot for new construction varies based on location and finishes.

It's not something you need but some wholesalers do one to provide to buyers when promoting the deal. 

Deal Machine, PropStream, and BatchLeads are all websites for data and skip tracing; they do not provide leads. You are essentially building a list with all the records they provide of owners who, based on the filters you add, might be interested in selling. Cold outreach is all about volume because you are trying to find the 0.5% of sellers who are motivated to sell.

If you are looking for leads of sellers who are already looking to sell, you are better off doing inbound marketing such as SEO or PPC, or buying leads from companies that run their own PPC campaigns, which are called PPL (Pay Per Lead).

For PPL, I would recommend https://propertyleads.com/

Have you thought about applying for a 0% interest rate, 12-month credit card such as the Ink Business Cash® Credit Card? Financing with the HVAC company usually comes with hefty costs and interest rates. I would keep cash reserves in a money market fund that gives you 4.5%, and take out a 0% interest, 12-month card so you can pay the minimum each month without interest.

We double close if our fee is more than 20% of the purchase price because most hard money lenders will flag it if they see more than a 20% fee on the hud. 

Hey Justin, 

Welcome to the community! 

Feel free to reach out with any questions regarding flipping or wholesaling 

I completely understand the frustrations with bad wholesalers. So many people underestimate what it really takes to build a solid wholesaling business. The way it's portrayed online brings too many unethical people into the business, giving the good ones a bad reputation. I actually love that regulations are coming into place, to be honest. I'd love to jump on a call to share my experiences and discuss what has worked and what hasn't in my business. Feel free to reach out to schedule a time. Looking forward to connecting!

Since you just bought it and haven't done any significant force appreciation, a HELOC will probably not be an option, as you typically need at least 20% equity in your house.

The big question is: Is there a pre-payment penalty on your 30-year conventional loan?

Most of the time, they make you decide the pre-payment penalty based on a range of interest rates they offer. If you chose the lowest interest rate possible, your pre-payment penalty is probably 5% in the 1st year, 4% in the 2nd year, 3% in the 3rd year, 2% in the 4th year, and 1% in the 5th year. This means that if you remodel and refinance in the first year, you will have to pay a 5% pre-payment penalty.

Work with integrity in anything you do.