All Forum Posts by: Glenn Espinosa

Owner finance with decent downpayment, 6-8%, 5 year balloon, no prepayment penalty?

A little late to this thread but its great to see fellow Hampton Roads investors on here.

I've been on BP for a while and am actively flipping and buying rentals in Hampton Roads (mainly Norfolk).

I've mentioned this before but with the influx of Hampton Roads people coming to the forums, we all really need to get together and network sometime!

Looking forward to talking and sharing knowledge with all of you.

Glenn

Could be asbestos siding. In that case, and depending on the exit price point of the house as well as the condition of the asbestos, I wouldn't eliminate the possibility of just painting it.

I've seen some really nice looking homes with painted asbestos siding. It's worth considering.

Ah, I see how you're getting your HML #'s now. Four months is fast! I might need to pick your brain regarding rehab efficiencies.

Anyway, we find most of our deals via networking and catering to the in the know realtors/agents in my area. They're starting to open up to my company and I'm getting first look access to escrow fallouts and other deals that aren't closing one way or another.

We're going to start a big marketing push here soon once I get our systems in place to properly tract and analyze the different lead generators. Gotta do it right this time around!

Looks great! Are you doing less that 6month HML loans? For the first one, I got $15,440 for the HML costs on a 6 month loan...

Looks like we're at a similar point in our real estate investing careers. We're hoping to turn 10 homes this year. Gotta keep the pipeline full with leads.

Let's connect sometime.

Glenn

Great work! Now go out and find 20 more of those and you'll be that much closer to closing a deal.

And Josh Farrer - never thought about that. Might make for a very awkward conversation, however. lol

And how do you address liability, Roy N.?

Out of curiosity - what percentages of funds are you doing with these type of transactions? 30% PM + 70% HML?

Mike Baker - I like the way you think. Remember, however, that there are other things of considerable value that aren't necessarily monetary. A lot of times you only realize these things only after you've invested up front.

Mike Baker - Glad to see you here. From reading your profile you seem to be very knowledgeable and experienced. Please don't get too busy to the point where you can't share your knowledge with us.

BP first, deals later. Or is it the other way around?

Glenn :)