All Forum Posts by: Michael Galloway

Nice work Gentlemen. Very well planned out. Very thoughtful with the links for more insight.

This is the key ingredient that i use as well;)

Tyler Bond, "well that was no good," your right it's fantastic! What i mean is this... Your competition, this self proclaimed controller of the area, has absolutely Zero business sense! What this means is YOU are going to DOMINATE this area!!!

Think about it. People do business with people they like. Not very likeable= not a lot of business.

If he had half a brain he should have been able to see that training you could only increase his business not take away from it.

Tyler, start building your buyers list of all cash buyers at your local REIA/Club you are going to. You can also place an AD in the marketplace section here on BP. Wanted Brigham City Utah ALL CASH BUYERS.

Get your leads and start knocking doors, flyering, mailing, talking to everyone you can. Find those motivate sellers, YOU ARE AN INVESTOR.

Get those deals under contract. (not sure how?) try keywords, sub2, option to buy, no money strategies, etc) There are so many ways to get a house under contract. Do the research.

Once you get a motivated seller come back to us BP- tell us the situation. We can guide you down the path to $.

Be excited that the only competition in town has only half a brain!

NOW GO... and don't forget to update us as soon as you get a motivated seller.

James Zachary, Jory Sandusky, you guys are invited as well. I will keep you posted when we close.

As soon as it closes we can go check it out. Maybe there's some treasures in the attic? keep you posted

Angel Perez, Welcome back. Looks like you Graduated.

Fred Dray, i do not consider myself a private lender, however i borrow millions of dollars from lenders that are still in business and have weathered the real estate cyclical storm.

This is your 1st transaction and you are way too deep in this transaction. Your goal as an investor is to protect your money. you need to operate on LTV (loan to value) at most of 70% of the purchase price. Given your example you would lend a maximum amount of $16,100. of the purchase price. (23,000)

You want the rehabber to have skin in the game. This keeps them in the project. If you gave them a check for $7000 (for the rehab) What's to keep them from just walking away and never lifting a hammer? they would. This amount is more than they will make in the end, so why do the work? ... Then your stuck with a house, and your not in the rehab business, your in the lending business, right?

I was a stock broker, also insurance licensed for annuities, second to die life insurance.

Andrew O. Not only am i confident, i am actually shocked at what is selling for the $2M mark in this area.

It amazes me everyday that home buyers continue to buy price per sqft, compared to quality. Just in this area the 40-50 year old houses that are remodeled sell at $2M+,

These areas are highly desirable with no new quality homes. I build in this niche.

Just got the verification today on a small house large lot in Alamo California. My team will be tearing this one down to one wall. (existing 1500sqft) We will be building a 4000 sqft new house in its place. Lot Cost $700k, Build cost $400K exit $2M+

This deal works because the neighborhood is full of solid comps of $2M. $500 per square

Might be partnering with Jory Sandusky's architec on this one.