All Forum Posts by: Dennis Pressey Jr

@Daniel Brown It depends on your timeframe and the rules of the loan. Conventional will typically require ‘owner occupancy’ or a ‘seasoning’ period before you can sell. A rehab loan from a conventional lender will also come with various restrictions. Private lenders are first, followed by HML, IMO. (This is for buy, fix and resell. Buy and holds can work without HML many times)

@Sunny Burns Really creative man! Not sure on this...could def be creepy. Tough call, I commend the ingenuity!

@Daniel Brown If using HML there is no need to come up with so much cash out of pocket. Leverage the cash to put down payment on HML (10% for the best lenders as they’ll lender 90% of purchase/100% rehab funds). He comes out the down payment cash and you front the ‘credit’ guarantees/liabilities - split the back end. Done.

@Aaron K. Cold calling certainly works :) @Sai Krishna Byra Id check the do not call list to be 100% sure and not risk it, there are plenty of leads available. We’ve found leaving voicemails is less effective than not leaving a vm. A missed call from a local phone number typically will yield a higher return call rate. You want to quickly convey you are not a bill collector when you do make contact!

@Jamie Lashley What is your ideal purchase price? Do you mind fixing the property or do you want turn-key? We operate in NJ including Ocean County :)

@Branden Robinson Podio. Call fire. Google voice. Active campaign. Zapier zaps to connect leads to all crms. A landing page makes sense as well.

@Eric van Dalen Great News. *note I did not read every comment I believe it really comes down to financials and the threshold of risk you can withstand. If you can confidently and comfortably carry 2 projects at once, go for it.

@Rufus Crumble Never use your own money! I’d source private or hard money using your funds as leverage. Lenders are giving it out, no reason to use your own. If your deal is truly a good deal, you will have plenty of room to take on a lender within your profit margin. (Do it correct and you can do 2 at a time)

@Amy Thatcher Get them out!

@Mike G. Skill 1 is marketing. Skill 2 is time ans people management. Skill 3 is making logic based decisions and leaving your emotions at home. Being a successful wholesaler or rehabbed has nothing to do with going to trade schools or picking up hammers - learn how to manage people. The hardest workers are the poorest, smart workers are the wealthiest.