All Forum Posts by: Christopher Lawrence

Thank you all for the feedback I have taken a look at the private lender's post section.

Stay motivated keep pushing forward because that one good deal is just around the corner. Patience and persistence are key factors in this business alongside relationships. Finding a Great RE Agent that knows the market well and is investor savvy will bring you good deals (Pocket Deals). Trust me all Great RE Agents have them. Build those relationships and don't STOP. Good Luck!

Hello BP Family, I've been meeting a lot of great people in this industry. I recently met a couple of private lenders that offer 4% & 5% rates with a six-month deferred payment plan with no pre-payment penalties. I've never done a deal with a private lender involved and I wanted to know how do you verify their authenticity? We have been talking for months now and he is willing to lend 100% of the funds needed for my deals. Of course, there are fees involved in processing the loan but he is not willing to complete the deal through a Title Company or my Attorney. This is what I suggested to ensure a smooth and secure transaction for all parties. Sounds like fraud to me but I'm not sure how the private lender sector works. Any info regarding this would be of great help. Thanks in advance.  

@Christian Orozco I definitely agree with others about the low rent rate. I follow the exact same process as Jill F. and Curtis Mears when it comes to weeding out unqualified applicants. I just went through a similar situation and I had about 30 people reach out to me within 2 days. I immediately knew then my rents were too low. Before contacting anyone I raised the rent by $200 then sent everyone with interest the new revised listing. At that point, I only had 8 that were still interested, and they had to pre-qualify before tours were scheduled. Only three families met the requirements and this process will save you an abundance of time to use more wisely to find more deals or spend with the family. Congrats on the progress.

@Mike S. Was that upfront fee mandatory for your policy? I do not have 20-30% upfront fee and my rates are lock in for life at 7% with a 3% divided annually. We definitely have different policies.

@Gonzalo Gaston Mike explains the set up very well with the exception of fees in the beginning. I didn’t experience that my policies doesn’t have any new/beginner fees. I was mainly targeting the individuals that has stated they had money sitting around not making money. I want to make everyone aware that on average it’s 7-10% Growth.

This can also be great for those who have 401K accounts that they would love to save and/or invest with. If you have liquid cash sitting and you started one of these policies you can have access to that within 30 days. Now that cash is working for you several way CI, Dividends, Cash Flow (REI), and Tax Free. You truly become your own bank.

@Brian Garrett let’s connect and chat

I definitely have two separate numbers and it only cost an extra $25 mo. I like to keep my personal number for family, friends, and my personal business. It works out great for me and I write it off at the end of the year. Do what best fits your business volume and necessities.

Did this deal have a Disclosure Statement within the closing packet or was this a Cash deal base on good faith from Agent/Contractor?

@David A. You are correct about being apart of the good ole boy gang to get access to the good deals. I do get offers for some amazing MF opportunities on average about 3-5 times annually. I can't do them all so I'll stay in touch with you as we kick-off this new year.