All Forum Posts by: Gavin Welch

Sorry about the confusion... 1. Find homeowner in foreclosure. 2. Negotiate the sale of note from bank to note buyer. 3. Possibly keep homeowners in place but now paying note buyer and note buyer giving new mortgage to homeowner... 4. After a length of time.. Note buyer could resell the now performing note to bank..(at higher price plus interest)

Sorry about the confusion... 1. Find homeowner in foreclosure. 2. Negotiate the sale of note from bank to note buyer. 3. Possibly keep homeowners in place but now paying note buyer and note buyer giving new mortgage to homeowner... 4. After a length of time.. Note buyer could resell the now performing note to bank..(at higher price plus interest)

I'm a realtor and investor looking into a new idea.. Here it is.. Find a homeowner in foreclosure negotiate with the bank to sell the note.. Find a note buyer to buy it and resell it to the existing homeowner for 3-5 years... Then the note buyer could resell the note to a bank.. Any thoughts??? Thanks Gavin

Nicole, not sure which lending sources you are dealing with but that is Not so.. Three financed properties no matter how you divide up the LLC.. But I have recently found a couple of banks that are allowing more than three, but it's still not easy and you really have to have all your ducks in a row. Outright or private finding you are free to do as you please..

Renovated a rental house and a guy knocked on the door while I was there and asked to walk through. I let him.. He walked through and said "I really like the house, it's in great shape. How much is the rent and deposit?" I told him. He responded " I'll give you $$". Which was about half of what I was asked.. My response.... Perhaps your mistaken.. This is NOT a negotiation.. Would you like an application?

Any thoughts.. I have a single family home that I own outright. I paid 40k for a couple of years ago. It's not in the best neighborhood, but is not a war zone either..cute place It rents for $800 a month and we have not really had any tenant problems. I was thinking of selling, I could probably get 50-55k for it and using that as the down payment for a better rental property in a better neighborhood. Maybe 60 to 80k then finance the difference.. 20 to 30k. I hate debt and mortgages. I also have three other free and clear rentals that would easily cover the note in case of vacancy. Do I sell this cash cow? Or keep it?

Hey, I'm an investor and realtor. I'm looking to network with other FL investors. Thanks Gavin

@tom Goans Great post. As a second generation investor I also am a bit more conservative and try to consider 'outside' costs rather than just a quick formula learned from the Internet. Funny thing is...that most formulas don't always work.. like the 70% rule does not really work well under 100k ARV or over 1 million.. I'd love to get more of your wisdom.

Hey, I am a realtor looking for dead wholesale Leeds.. Specifically, ones that you could not reach an agreement on price with the seller..
So what do I have? I occasionally have properties that are investment properties that need to be sold quickly. These sellers are motivated.. Lets work together.
Oh yea, I'm in Fl.

Thanks
Gavin

Hey Luc, Its true. I'm an investor in Lakeland, outside Orlando. I have put offers on properties the same day it hit the MLS and the bank already had an excepted offer!
In addition, sometimes there is a waiting period so owner-occupants can bid first, but the crooked investors are snapping them up also..
Depending on the neighborhood, we are having now to big over asking most of the time. We could really use the extra inventory.
G