All Forum Posts by: Gerald Thompson

Hi Dawn,

I will PM you.

@Jim Viens,

If you haven't done so already, fill out the BP deal analyzer named "House Flipping Calculator" and send it to me.  I am would like to take a look at it and see where the $70K is at.

Thanks,

@Chris Harrington,

The 5000+ units you are referring to... Are those the downtown lofts?

@Ross Ellington,

I have a mortgage broker whom deals with VA loans. I will give him a call and get the details. This information was never offered to me, so it makes for a good meeting as I am really curious of the ins and outs of this program. Thanks for the great information!

Good to know!  Thank you.

@Sidney King,

If you become a member of MAREI, you will receive a squeeze page for free with your membership.  It is not great, but it does the job, while you become more sophisticated and develop other means of lead generators.

@Melodee Lucido,

Are you looking to sell the 174 unit complex as well?  If so, I may know somebody who is looking to buy.  Where is it located?

@Blake Woodham,

As a veteran, I am familiar with the VA loan process; however, I don't think I know what a

2nd Tier VA loan is. Could you explain? I have never used this type of loan on investments; only my personal residences.

Thanks,

@Carrie Hallensleben,

@David Roberts brings up some good points.  In our line of business, I believe leverage is the key to your success, especially if you are looking for buy and hold properties.  After all, $100,000 could buy you 1 house, or it could buy you unlimited houses if done right.  That said, I also have friends who believe that 100% cash flow is better than leverage, so I guess that can be debated all day long. 

If you are thinking of using cash, instead of bank lending, then I suggest you get a better deal.  My cash offers are always much less than financing because it is a guaranteed approach that is capable of closing much faster.  Nonetheless, if you decide to refinance you will have to pay closing twice.  Maybe you could have the current owner pay your closing costs up to a certain point to avoid some of those expenses.

Good luck!

@James Ward,

Are you trying to wholesale a property?