All Forum Posts by: Lizina Green

I would check out this podcast. Has very helpful info that you might work for you. But with yellow letters its persistence and finding the right niche. Check out the podcast. 

https://www.biggerpockets.com/renewsblog/2016/05/2...

In order to a pics you have to have plus or pro account. You can add with the free account. I hope that helps

Finding deals are getting harder and harder. Also try connecting with other investors, get to know multiple real estateagents to get pre-listed properties or expired listings, drive for dollars (if you have the time), find a wholesaler (you can always call WE BUY HOUSES sign and see they have any homes they want to unload) and another source is possibly a foreclosure auction properties by the county or with an auction house. 

You can not accurately value a property based on the registry of deeds. Their value is usually not the true value of the property. In addition, you should not use this value to base an offer. Your offer should be based on true ARV (After repair value) minus rehab costs (which you may not be able to accurately assess if you are unable to get access to inside of the home), holding costs, unforseen issues (always occur), and profit potential. ARV can be obtained by looking at sold comps which your realtor should be able to provide and if you do have not access to a realtor some websites such as realtor.com can show the list of some recent solds.

The 93,900 is the $$ value of the house and 20,000 is the land which is why the total value is 123,000.

Since you live in B-more, there should be a local REI or BP group that might be a good source to present your deal and get more input.

This was very informative thread. I had thought about using them instead of my current HML but they are way too expensive. There are many HMLs that have better rates with lower DPs and points. However, as we all know do your due diligence and make sure your purchase, rehab costs and holding costs, and potential profit are all accounted.

@Nicole Graves My portifolio lender will finance a fix/flip as a conventional or ARM but does not offer any avenues for rehab line credit on a habitable house. So you will have to have to find other sources to fund the rehab. On a non-habitable house they can be more creative and finance this as construction loan. My lender will finance in my company name with 20% down payment. It is difficult finding a line of credit for a substantial amount if one has little experience. I am still working on getting a line of credit. The other possibility would be a business loan.

I have now finished a total of 3 fix-n-flips. My second closing on 5/16/16 and my third closing on 6/3/16. My goal this year is to complete 6; however, it is getting harder and harder to find a deal. On my last flip, I had 2 offers and 2 other buyers who were too late to the table and that was in the first 6 days of list. So I know there's a market.

I need more properties and more funding. I have a fourth property that I got from another investor which requires ALOT of work. My portifolio lender is going to finance it as a new construction. I have also used hard money but boy do they cost.

I am excited for the next several projects.

Thanks for the detailed response. But I think my brain just overloaded. I will have to sit down and read through this response and the link a few times to grasp it all. What I do understand is that is all about how you structure the agreement.

I have been getting prepared to present a seller financing package but I am unsure concerning taxes and the balloon payment. Will the seller have to pay taxes on the balloon payment? If they sell the property in form of a note with terms, do they just pay taxes on the note payments?

HELP

So last night at 12:30am I was up looking on the MLS, going to county assessor site at the vacant properties I had scooped out during the day but I should have been in bed because I had to be up at 6:30am. I find myself listening to everything real estate and my conversations seem to gravitate to real estate. I have a great job with very good income but I am finding that it is taking over.

When did you realize you were addicted to Real Estate?