All Forum Posts by: Greg Carr

"I might be able to replace the roof and store something there."

Ha! Yeah, maybe all that money you just made off of it!

@Wayne Brooks Well, they would have to have been in a storm within the past year, of course. If there's no storm damage, there is no point even filing a claim. There are quite a few storm areas in my city that still have been neglected by the homeowners. I do this with the storm maps we have of DFW.

I definitely should have mentioned that in my original post! Thanks for mentioning that, otherwise people would get the wrong idea right off the bat. If you don't live in these cities, you obviously would be unaware of the storms.

In terms of fraudulent claims, I'm actually not sure how that is even possible, considering an adjuster has to approve the claim anyway.

I work for a roofing company in DFW, and I would like some input on my proposed strategy.

I am thinking of working with sellers to file insurance claims to get their roofs replaced prior to closing. The investor would pay for the deductible, and we would pay the homeowner a small bonus for having our yard sign out for a month. This way, the homeowner actually makes a little money (though the closing is delayed), and the investor pays only for the deductible rather than a whole roof, gets a higher quality roof upgrade and a transferable warranty. Seems like a win all ways.

Does anyone have any experience doing this? I was talking to an investor recently and he told me that he is looking for a roofer to help him do this, and I gave him my card. What difficulties can occur with closing, negotiating with the seller, and the insurance claim process?

Who We Are

We started as a roofing, siding, and exterior restoration company in Illinois. We have since grown to include remodeling and general contracting. Some of our employees, including Joe Drew, the owner, have investment real estate experience, and we are looking to grow our business with investors.

What We Do

We do free inspections and are excellent at working with insurance companies. We are always looking for work, so if you need roofing/exterior restoration, remodeling for an investment property, or general contracting for that beloved addition, we would love to help! We can work on single family and multifamily properties as well as commercial, and have experience with all of the above.

We pay to earn your business. Refer a friend, get paid again. We pay a $125 referral bonus. A lot of real estate agents, wholesalers, and investors keep us in their back pocket to earn extra income.

Credentials

We are licensed, insured, and bonded. You can find all of this in our information packet.

We are also have A ratings on the BBB and Angie's List.

Contact and Cities

We have offices in Dallas/Fort Worth, Chicagoland, Michigan, Indianapolis, South Bend and Fort Wayne.

For any of our services, including referrals, please contact Greg Carr.

Mobile: 682.560.3705

Email: [email protected]

Partnering is the best way to get started, in my opinion. I am glad you didn't go with a guru, too. There are loads of people out there who can teach you for free and give you real experience, while making money, too.

Attend local meetups and educate yourself a bit more. There is a meetup tomorrow in Arlington, at an investment property, where an inspector will teach you how to do rehab estimates.

Ask local investors at the meetups how they do their due diligence. Ask them where they run CMAs, estimate repair costs, etc. I always give my investors a contract that outlines the repairs to be completed, at what price, and a per diem for going over a certain time period.

Consider partnering with another local investor for your first deal. You will learn more doing that than any other way, and it's a lot safer because your partner knows what you are doing. Plus, you'll even make a cut of the profit doing it.

I am currently offering secured credit facilities to experienced real estate investors in 26 states across the nation. Apply now and secure up to $2,000,000 for the acquisition and rehab of distressed properties.

Details

• $150,000 net worth required
• Experienced Investors Only (Must have completed two flips or existing rentals)
• One time approval process with updated credit/financials every 9 months
• Advance rate up to 85% of Cost (Acquisition + Rehab)
• Single Family and Small Multi-family (less than 40 units)

States Available:

Alabama, Arizona (Minimum Loan of $250,000), California (Coming Soon),Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Vermont, Washington, Wisconsin

Application

Fill out the pre-approval application and email it to:

[email protected]

Pre-approval can be processed in as little as 20 minutes if received from M-F. After the pre-approval, we will need supporting documents and then you are ready to go.

About Us

New Western and Sherman Bridge Lending provide investors with everything they need to get started. We provide investor consultation, discounted investment properties, contractor lists and other local resources, and several different loan programs to meet our investor's needs.

New Western and Sherman Bridge Lending are BBB accredited businesses.

Questions? Email: [email protected]

Or post in the comments below.

Welcome!

Make sure you set up keywords for Fort Worth and Dallas.

What IRA custodian do you use?

Well that explains it.

I do speak a bit plain, to reach a broader audience. The details can be a bit complicated, and what this situation will lead to is a negotiation. The broker may want a fee/commission. Therefore:

I think it is better to talk with the agent first. Tell them why you feel like you aren't being served. Then ask for a written release and termination of the agreement. Arm yourself with some TREC/NAR threats. And lastly, use an agent from another brokerage to explain it if it comes to that.

As you can see, the broker has to sign off on the termination agreement. I am not sure if writing "0" in C (1) and faxing it to the broker, with no communication, will be very effective. Then again I am not sure what your experience is on this.