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All Forum Posts by: Doug Silverman

Doug Silverman has started 2 posts and replied 23 times.

Originally posted by @James Paine:

@Doug Silverman are you rehabbing the properties?  

 No, but I will manage the rehabs, find the deals, analyze the deals, make sure it gets sold etc. 

I have a partner who is putting up all the cash...I am finding, managing and selling the properties...what is the standard percentage for each partner in this case...I was thinking 60 for him and 40 for me....is this fair?? thanks

Post: Should i drop out of college to be a real estate investor

Doug SilvermanPosted
  • Wynnewood, PA
  • Posts 27
  • Votes 3

Do both at the same time man. Get that diploma. A 3.2 is pretty solid man!

I believe it is legal and you should have no concern. but do your due diligence.

Originally posted by @Reda Akbil:

will be puting 20% down on a 200k house but it is appraised at 270k. How can I get equity out of the extra 70k? second mortgage? is it easy to do?

Thank you Very Much,

Reda

 Hi Reda, I am a lender in Philadelphia...my questions to you is, why are you putting 20% down? Why not leverage the banks money and keep money in your pocket?

The issue here is any lender is going to use the lower of the purchase price vs. the appraised value. You should wait 6 months and pull money out of property...

Post: I got one motivated sell calling me today

Doug SilvermanPosted
  • Wynnewood, PA
  • Posts 27
  • Votes 3

You have to go there with a letter of intent. Sign it on the spot and give it to them. this will help you seperate yourself from other buyers...

I will be there!

Are you an experienced investor with good credit?

Hedge Funds are swooping in and buying properties for minimal profit as a way to safeguard capital...

Originally posted by @Ralph Pena:

I work part time as an agent,  invest in my own properties,  wholesale,  and work a full time job at Septa.  I'm a kw agent out of Brynn Mawr. 

As long as you're paying your monthly fees and abiding by the pa real estate laws.  Your your own boss. 

 Ralph do you have kids? married? how do you find time?