All Forum Posts by: Ed Register

Talk with some local Community Banks, they have different lending standards as often they keep their loans in-house and do not have to comply with the Fannie Mae guide lines. I have done multiple loans with Community banks with fantastic terms. Also consider owner financing. If you can get owner financing from the seller there is no need to wait for your 'pre-approval' Realtors want you to wait so you don't waste their time driving you around. Go out and look for your own properties without the realtor you may find properties for sale by owner with owner financing. I purchased a 10 Unit apartment building outside of Charleston WV about 3 weeks ago. I got the owner to carry a second mortgage for 20% of the purchase at 5% interest. I got a community bank that would loan up to 85% of the purchase to provide me the rest of funds. I walked away with about 1400.00 at closing with putting no money into the deal at all. Essentially I got paid 1400.00 to purchase the property! The property cash flows and has room for improvements in NOI. As a bonus my wife got her Realtors license only to use on investment deals we do, since she was the realtor on this transaction she got another 5700.00 of commission at close that we put back into the company so effectively we got 7100.00 to purchase a property with cash flow!

Read and learn all you can but don't believe anyone who says this is the way it must be done or it can only be done this way.  If you find the right deal and simply ask for what you want you will be amazed at what you can do.

Good Luck!

I'd like to know what people are using for inbound lead capture.  I'm looking for software where I can rent a number anywhere in the country put that number on marketing collateral and then capture lead information a a people call it.  I'd like to be able to record message SC for people to listen to and the also use the software to send voice-mail, text, and possibly email blasts.

PM me your number and I'll be glad to give you call with some details that may be helpful

In wv you can become an agent under a broker and only deal with your own properties not buyer and sellers for others.   That's what my wife and many other investors do.

I've got a 3 bed 1 bath in Charleston,  4415 woodrum lane. 23k

I'm new to doing a deal Sub2 and wanted to know how you handle a loan that has Taxes and Insurance included? I'm assuming once you get the deed and recorded the Taxes will become your responsibility and Insurance should be a policy you own not the Seller. However if you try to change these things then the Lender would be notified and I would try not to raise questions and chance them triggering due on sale.

Any ideas or advice would be greatly appreciated!

Charles - GREAT POST, thanks for all the ideas!

If you wholesale or flip in Odessa, TX.  I have a lead for a property I'd like to Bird dog.  1400Sq Ft. 3bed, 1.5bath, Brick with wood trim.  I'm not very familiar with the area and would like to pass this along to someone who can use it.  Seller said he would like to get somewhere around 70K for the property but he seems to want to get out and I suspect he will take less.  The property is free and clear.

I've read the low and no money down,  great book just looking for additional resources.

Does anyone have any good resources for determining the best method for structuring a deal to purchase a single family house.  I have a decent understanding of flipping, wholesaling, lease option, sub2.  But looking for perhaps a book or some type of advice on pros and cons of various options and maybe exploring even more options than the above.  My desire is to have many tools in my tool chest and gain some guidance on which tools to use when.