All Forum Posts by: Delon Hall

As an agent, I have an auto searches for Pending properties and "back on market" properties. If you have access to the MLS i suggest you do the same. When the market is very hot, as it is right now in Atlanta, I see myself making a lot more back up offers.

If the deal looks good enough I suggest just putting a written back up offer and let the seller know to call you if anything goes wrong.

What is your exit strategy?

How much time and effort are you looking to give up to find 1 deal?

Do you have the funds and the knowledge that goes along with going direct to seller?

Are you working with the right team to assist you with buying from the MLS?

Hey, not sure if you made it through Atlanta yet, but if you havent I have 5 projects going on at this moment and 3 more heading to closing. Im sure when ever you come to Atlanta I should either have a property or 2 either under construction or finished and on the market.

Message me with what you need exactly, and if im not able to assist you im sure I have worked someone that i can refer that can. 

I have 3 GC's that I use a lot. message me for their contact info, i dont believe i can put it within the post.

1 Eric- my goto guy, also has a interior designer (free)

2 Linda- Cheapest new build prices i have found

3 Leo- with asset safe

I got my ticket and ill definitely be the first one there. :-)

Make sure you are very clear about what each members responsibilities will be. 

Agree on how the 1st $10k will be spent.

figure out if this is going to be a business that will least until one partner reaches a goal or for forever. 

There are 3 big things that you should do before investing out of state:

1. References  2, Track Record   3. Follow through

I have partnered with many investors from out of state, a few were from BP. You should consider what class of asset you plan to invest in and work your way backwards. Then figure out where you can get the returns that your looking for. Finally and maybe most importantly building a solid team. 

Im 50/50 on how and when i take the 70% rule into consideration. Honestly, I think its a way for lazy investors to do half of their due diligence and bank on the 70% rule ENTIRELY. When another investor finds an easy way to evaluate multiple asset classes by one simple formula, it creates opportunity for the next. 

I ask investors all the time "would you take on a fix-and-flip that had 90% Seller Financing, 0 interest for 6 months- balloon payment after 12 months, Purchase $150k, rehab $10k (cosmetic update), and ARV $200k, comps avg DOM under 10 days?" Its hard for me to believe any true investor would past this up and if they did either they do not know what they were doing or they arent investors at all.

So the 70% rule definitely has a place in flipping but it is not the ultimate determination of a deal. along side a few other considerations the 70% rule is a great tool, but like all tools they are only valuable when the are used correctly

Have you picked a market that you were interested in lending to?