All Forum Posts by: Daniel Yohannes

We clearly understand...in fact those are the only type of investors we work with. We would rather you do a thorough inspection / investigation before making a decision. We sometimes even have to fill out a pre-inspection form for some investors before they order the actual inspection. Our main issue is that we are getting exhausted with people who say they're cash buyers and can't produce a POF. To us those are just wholesalers who are in the way and can damage a deal. So that is the reason we ask for the POF letter before we even start sending addresses.

Can you provide a POF letter?

Depends on which market you're looking in. My advise would be to obtain properties in multiple markets

I would recommend Homeadvisor or Angi. ALL contractors that sign up with them has to be licensed, bonded, and insured. I would also recommend that you buy your own materials instead of letting the contractors do it. They seem to upcharge on materials if they pick them up. Another tip would be to put your own scope of work together as contractors will also charge to do that. We always put our own scope of work together then have 2-3 contractors bid on the job.

I would hire a property management company, but make sure you do your DD on the property management company

You can also get a acquisition line of credit as we have done for one of our customers/partners. On top of the line of credit, we have also equipped them with unsecured revolving lines of credit totaling $377K in which they use strictly for renovation. Since you're going to be renovating houses, it is also good to obtain credit cards from Lowes, Home Depot, Menards....etc

Ok, got it. We will keep you informed of any mult-unit properties we receive. We get a lot of them and turn them down because we are only in the market for SFRs.

Proof Of Funds.

Do you have a specific type of houses you're looking to purchase?

We are very familiar with the area. Can you provide POF? What is your buy box?