All Forum Posts by: Jesse Moran

@Lauren NA

Go on the county assessor site and find the owner and contact them directly from there after doing a white page search.

This is like the rental scam where they list the same properties for rent using someone else’s photos and tell their tenant to change the locks and they will reimburse them as they are on vacation and won’t be back for awhile.

It is definitely a scam. I bet if you contact them and say that you want to use your escrow company they will yell and get pissed.

@Christopher Freeman sounds like you could have spent that money on a better WiFi router to extend it further than the internet provider would. I bought one at Walmart for $80 with multi-signals and it travels well. WiFi extenders will connect the signal strength that it gets from where it is located at and then gets even weaker and slower from there.

You would have to still do 20-25% of the loan anyways not the appraisal unless this is a REFI. In which case a BRRRR type strategy would be in place to pay cash and refi it back out after 6-12 months at 70-80% of the value of the home.

I’m also getting into land. Want to connect or email sometime?

How much is he selling it to you for? How much are you putting aside for capex, repairs, loss of rent and property management each month? Why is he selling? Just a few questions to help

I would call your insurance co for a free quote and get an idea of what it could be. Also I see you have CapEx but you don’t have a section for repair cost and vacancy I usually do 10% rent for repair and 8% vacancy. Do you have PMI ? Also brings up another point if the rents have the opportunity to increase if you have a good neighborhood. Good luck!!!! Let us know how things turn out.

Helps prevent against money laundering. But some other big banks are already doing this for years now. Unless you have a business account. I can’t remember what I read but I think business accounts are excluded.

I should also mention that this is for personal accounts. As of right now business accounts are good from my understanding. But I see some investors use personal accounts as business to avoid fees.

Chase said they stopped in 2015. Wells Fargo is stopping I think next week. All due to prevent money launderers https://www.bizjournals.com/bizwomen/news/latest-news/2017/11/big-banks-ban-cash-deposits-into-others-accounts.html?page=all Just a heads up for cash deposits. They could do a money order and deposit that still I believe.

Banks are starting to not allowing people to deposit cash anymore into other peoples accounts unless they are on the account now. This is to help protect against money laundering. But direct deposit or something into a business account is still an option or money order but risky of a fake one and you getting stuck with the charges.