All Forum Posts by: Jayson T.

Investors looking for deals in Rochester area. My partners and I would like to partner with REO Agents, wholesalers, birddogs and motivated sellers to buy homes. Multi family homes preferred

@Martin Grizzanti..Hey Martin. Thanks for reaching out. We are always looking for deals. My name is Jayson. You can reach out to me with any deals your company may want to off load. If I can help you in any way, please don’t hesitate to contact me

Turn key real estate company looking for contractors and handymen in the Rochester New York area.

Thank you everyone for all the great advice!

I am in her will along with my brother and sister. Mom is downsizing since me nor my siblings live there and is buying  a condo closer to work. Sale price will be a little below market value with a Home Style loan (4% down), rehabbing ($80K-$100K) mom's home into a place my family and I can live in (better schools, bigger yard, and other benefits) comfortably with a growing family.

We plan to renovate the attic of our current home and make some cosmetic repairs ($60,000 HELOC) that take it from a 3 berooom 1+ half bath to a 6 bedroom 1+half bath with a separate 1 bedroom apartment that has a livingroom and kitchen (apartment is already renovated).

We then plan to rent the Air BnB for 2 years and re-finance for equity and leverage to buy more rentals. Our exit strategies on each individual deal will vary between Fix & Flip, BRRR to Air BnB or sell retail. Just to add some context..

Our current home we plan to Air BnB is:

10 minutes to JFK & LaGuardia Airports

30 minutes to Manhattan 

20 minutes to Long Island

Close to LIRR & Subway

Walk to supermarket or taxi stand

Thanks again everyone and I will take any advice I can get according to the additional information I presented.

Hi BiggerPockets friends,

I am about to become an agent and want to buy my moms house from her. What is the most beneficial way to cut costs? My wife and I want to buy it to live in with her grandmother and will be renovating it. Should I run the title through a title company and hire a lawyer only?

@Frankie Betancourt..

get a credit card swiper from Sum or Intuit and use that to withdraw the funds on the credit card.

@David Hanor.. when you sell you can direct money into a "self directed IRA" and reinvest it again on another flip and avoid capital gains tax

@Rufus McLaren Just got on this thread.. you are describIng a “subject to” strategy. You assume their mortgage “subject to” the existing mortgage. Meaning they sign the deed over to you and make the remaining payments.

Thank you so much for the great feedback Hattie. I will definitely consider your great advice. You may have just done a wonderful thing for us. Thank you!

Hello Bigger Pockets! I need some advice on a creative financing scenario. My family member is about to lose her house to a short sale. The house needs work but would be a great fix and flip. She has it listed for $160k. My mom owns a house around the corner that is appraised at $330k. Same house but my cousins needs a $60k- $80k rehab. The recently sold comps in the area range between $345-$430k. My question to the bigger pockets community is about creative financing. I want to work out a deal with my cousin to give her some moving money ($15k-$20k) assume the mortgage, Rehab it, and sell. What would be my best options to make this happen with little to no money out of pocket? I have a contractor that will partner with me on the Rehab and cost of the Rehab. But I need to know what steps do I take to make this happen. Should I go to the realtor (which I am friends with) and try to negotiate a better price with the bank or offer my cousin the money to sign over the deed to me and bring the balloon payment ($25k) up to date, then renovate and sell. Any advice would be helpful Bigger Pockets community. Thanking you all in advance. PS... I already own a LLC that I created for flipping but have not used it yet..