All Forum Posts by: Dvorah K.

Hi Kevin,

No we do not. My lender and our company are open to anywhere in the US for investing. Honestly, with OPM, I don't feel Dayton (where I am from) is the best place right now for buy and retail - except for a few areas near the air force base.

This is why we are looking for established wholesalers that work and know their own area and have contacts already in place.

We are working with established wholesalers now in the KC, MO area, Jacksonville, FL and Dallas/Ft. Worth.

The 3 people /companies have proved to us that there is a retail market and have been able to get us good deals and the contacts we need to follow thru.

We will not pretend to know an area that we are not familiar with, thus we are forming tight relationships with the wholesalers we choose. We will be repeat customers, looking to buy between 5-12 properties a year from each one.

At this time the few PM lenders we have are all looking to buy, rehab and retail. As word gets round and we bring more on board, other PM lenders may want to buy and hold, but for now we need hot areas that have retail buyers.

Usually cities that have a big military base near by are good choices, but we know there are many more opportunities.

If you are wondering why we don't have specific areas - all my lenders thus far do not live in the US. They could care less where the deal is, as long as it gives them a super ROI. Also, I am not a wholesaler at the moment, just takes too much time. We would rather work WITH a wholesaler and become a team rather that go it alone.

Hope this answers your question more than sufficiently. :-)

Thank you for your inquiry! Hope we hear back from you!

Looking for wholesalers that wholesale homes in the area they live.

Our strategy is to buy, rehab then retail - so the property needs to be in an active retail sales area, not a buy and hold rental area.

We will rely heavily on the Wholesaler's contacts such as contractors, inspectors, title company, Realtors, etc.

Please do not reply if you do not have these contacts well established and know their work/practices.

This PM lender has $55K to invest. Period. So this is a max of $55k for purchase AND repairs. LTV needs to be at 65% or better.

Looking for single family, 3br/2ba only. NO foundation issues please. Light rehab only - no more than 3-4 weeks for repairs.

If you are a wholesaler with the qualifications above, we want to build a lasting relationship with you.

Respond only if you have a property that fits this criteria right now, it is in your area, you have the above resources available and you are ready to close. You must include the location of the property and we will check it out and get back to you.

Please put, "I have property available" in your email subject line, so that we know you read all our criteria.

More PM lenders are coming and we will need you. Most of our PM lenders are not in the US, so where we decide to invest does not matter - the DEAL matters.

We are ultimately looking for 4-5 wholesalers to build a long term relationship with in different areas of the country.

Please contact us via my gmail address in my signature below.

PS. If you do not have these qualifications right now, please save this information and contact us when you do.

We look forward to hearing from you.

We are starting to fix and retail now and we have been told to make sure there is current activity in the last 3 months in the market we buy. DOM is very important in being a determining factor. Take a look at the props sold near your possibility, with similar sq/ft and ammenities. Take a look at the ones that sold in less than 2 months - this is the price of the market, so make sure you can fix whatever is needed to still make your profit at the sale prices you find. If you can't find recent sales and the DOM is over 40, I would walk away. That is just what we are doing now to protect ourselves.

Good luck!

I think both are important. Hold for long term wealth and flips for cash infusion.

It also depends on the area you find the property. Some are good flip areas and some are better holding areas.

Of course, you need to take into consideration what you have now. You might want to find some great strong flip areas and do a few of those to build up some quick capital, then buy and hold a few properties.

Hi Jonathon,

Welcome to BP! You will certainly find direction on this wonderful site! Investing in the US is MUCH different than South Africa. I wish you all the best in OK!

Welcome to PP Raj,

Take your time, start small and work up. You will be successful if you are persistent.

All the best!

Hi Scott!

Welcome to BP! I lived in Chicago for a long time - loved it!

I think you have a great plan and I wish you all the best!

Thank you Joshua! And thank you Matt! Would love to talk to you! How is your marketing going???

Sorry for the long winded post! - just wanted be upfront with everyone coming in! Thank you for the warm welcome James!

And Michael - thank you as well! If there is anything I can help you with, please let me know. Testing the waters is always a good idea before you jump right in!

Hi all!

Dvorah Kane here. Just want to start off with saying this site is fantastic! So much knowledge here!

I grew up in Dayton, OH and Wichita, KS and lived in Chicago for several years. My company is based in both Dayton, OH and Kissammee, FL.

My philosophy for any relationship is to be honest and transparent, and this goes for all business relationships as well. There just isn't time for BS.

I've been in RE for just over a year and things have just started connecting over the past few months. I would consider myself a newbie.

What I have focused on is building relationships with lenders and servicers to source bulk product and developing a small list of qualified buyers. It is a good pay day when a tape is sold and I like it. But it doesn't happen every week.

That is my background in RE, and I want to continue to do that. I also want to get into the following, although not all at once:

1. I recently stumbled across a few private money lenders and now understand the value of OPM! Wow! I can see how this opens up opportunities!
So I am ready to start finding great wholesale deals I can buy and do cosmetic to average rehab on and resale quickly under current market value. Anywhere in the US. The deal just has to be great and have a great ARV and meet our price criteria of buy and rehab being no more than $60k - for now.
My goal is to buy, rehab and resale 4-6 properties with each of these lenders within the next 12 months. If you can help me out here, PLEASE put me on your buyers list. Those wholesellers who really know their area and have a knack for getting really great deals that they too make money on, you get me pointed in the right direction - I will be back again and again, you will be stuck with me. I forewarn you though, I will probably ask a lot of questions. :wink:

2. I want to tie up the loose ends I am not quite clear on with 'subject to' deals and start marketing for those. I think the idea of getting to a seller BEFORE he is caught in a SS situation or FC is absolutely fantastic. The seller gets to sell with dignity, the buyer gets to buy a great home because of financing already in place, the bank stays in business, we get a bit of profit... I just see it as a win-win radiating in every direction.

3. I would like to ultimately get into wholesaling. Outside of the few properties I've cherry picked off the tapes that come in front of me from time to time, I have not wholesaled anything.

This would be my last area to get into though. In my humble opinion, it would take a lot of money to market to get continual leads in. I do not see myself getting into this until I see I have a considerable amount of money saved up for at least 3 months of continuous marketing and a staff trained on how to talk to the leads and process them. I would find it depressing to listen to all the owner's sad stories day in and day out.

Once I save up a considerable amount with the help of PMLs, I will be buying mini bulk tapes, rehabbing the assets and reselling them or keep and hold, depending on the area they are in.

There you have it -
My name
Where I am from
My RE background
What I am doing now and
What my goals are... well not in detail, I have a few goal lists short, medium and long - personal and financial. It is nice to see them start being realized.

I hope to one day soon to be able to start pointing people in the right direction - as so many of you have done already. Thank you! Happy investing!

:mrgreen: