All Forum Posts by: Gena Kirkwood

I was wondering if Shrivers Lending is legit too. I'm in Missouri and my local PML's aren't lending any more or if they are, they are maxed out on funds for funding. I would appreciate any help with legitimate Fix & Flip lenders and Buy and Hold lenders! Thanks

Who is your title co.? If you are purchasing an investment property you should put it in a business name (that keeps others from being able to tell who owns it) and decrease your personal liability. It could be as simple as using the address in the name. LLC's are better than sole proprietors but you can do any of them.

I am in Springfield, MO and when I purchase a property I sign all of the paperwork until we get to closing. At closing my husband has to also sign since we are in MO.  When I sell that same property, my husband has to sign at closing also. 

What type of investment property is it? I am a RE Investor myself and I work with many others. Let me know if you are looking for anything else. Good luck!

Great job! 

@Kirk Brown - I made the mistake of joining and he doesn't give refunds either. See my previous post. 

You should figure everything as if you aren't living in the property to be accurate. That includes expenses for maintenance/rehab, utilities, trash, and management (even if you are managing). That will tell you if it is a good deal or not by looking at the cap rate. FHA has a lot of restrictions so I would be talking to an investor friendly banker and realtor to help you with that. What is a good deal for me might not be for you. You need the cap rate, etc. whether you are buying it to live in, totally rent out or flip to someone else.

Wholesaling is the best place to start if you don't have a cushion of money. It is also the fastest way to pay off bills, etc. until you can afford the set backs with rentals and believe me there will be plenty! I'm dealing with a built in oven for a tenant today.  

Have you gone to any of the REIA meetings? There are investors and bankers there that can help you with your numbers too.

It is hard to live in the same place that you are renting out. You see and hear everything that your tenants are doing and they will be right there at your door every time they need something whether it is big or small. 

BEWARE OF PETER VEKSELMAN COACHING: I got involved with just coaching from Peter Vekselman 9/22/16. I was contacted by someone in his office who turned me over to Frederick Weiner who is the supposed credit coach. He proceeded to help me get a credit cards requiring him to be on the account also. At that point he ran the cards up and over the limit (2 cards with a $5k credit limit). One card was ran up to $12k the other around $8k. Both cards allowed me around $1k each plus coaching fees. My fees were supposed to be $6,300 and I was charged around $9k. My coaching calls with Peter last 5-10 minutes and they are far and few in between. I need coaching that is consistent and doesn't have scammers on the team. 

I have asked for a refund which was denied. I'm not sure how I can continue coaching with someone who is allowing part of his staff to scam people. Fred was supposed to pay off his part of both credit cards on 2/1/17. He is supposed to pay them this Friday and hopefully that will happen. I am in contact with another student who had even more credit ran up than me and still hasn't received any monthly payments. The payments that he did make have been late and many of them bounced and were reversed. 

How did I allow Fred to be an authorized user on my credit cards that he helped me get? Because he said he was doing it for Peter's students. Lots of promises and "trust me" lines going on here.

If there are 2 of us trying to get our credit paid due to this coaching, I can assure you that there are many others!!! Please beware!!! 

Peter is not concerned with this practice or he would be appalled and understand that you can't continue coaching with him after everything that has happened and should refund the $6,300 that put me further in deabt. 

I purchased Matt Larson and *************'s REPS program. It is filled with lots of information. I have learned more from watching his videos in 2 days than I have in my coaching with Peter Vekselman for 4 months which was very expensive. Matt's course is very much worth the $997. 

If you list it on the MLS then you have to add a Realtor's commission to the deal. That doesn't work if you don't have a big enough spread for closing costs, etc. I'm not sure why you would put a lease option on the MLS when you have alll kinds of FSBO sites and rental sites to advertise on. Plus, what is the cost of putting it on the MLS if you aren't a Realtor yourself?

@Account Closed if your market isn't good for wholesaling, what about lease options? You can wholesale those too. Look for properties that are over leveraged and can't sell with a Realtor or normal bank loan because it won't appraise out. If that isn't something that you can do in your area then do regular wholesaling somewhere else to get started. Cris Chico has a virtual wholesaling program meaning that it can be done in other states without you being there.