All Forum Posts by: Hector Perez

@Paul Jamgotch 

Thanks Paul for your reply, I understand your concerns. 

We have a Texas Real Estate attorney, Residential Loan Originator (RMLO) and a servicing company that will take care of the sell side process to meet Dood-Frank. I  also will put money into the deal and with my business partner  and I will personal guarantee the loan to give the private lender a peace of mind, just need a 12 to 24 months commitment

On the buy side we use a Real Estate Attorney to draft the note, the PML get first lien position, we do the closing at a title company, we get title insurance, and PLM gets listed as an insured in the hazard insurance.

Let me know if you have any questions on this deal, i will be happy to answer them

Also, We just got 3 more deals under contract this week just like this one, but we would like to keep them as rentals. all in costs are $30,000, with a 12 to 24 months commitment on the note. there are located in Notheast Houston, with rentals between $750 to $800.

Let me know if these may be of your interest as well

Hello BP,

I am a local real estate investor in Houston, Texas. My major focus has been mainly  wholesaling properties to other investors, I have rehabbed a few homes and with my business partner  we hold notes in 4 homes that we are currently owner financing

I am currently looking for a private lender to fund $30,000. This will cover purchase price, rehab costs and closing costs. I have funds to close, but would like to build a relationship with a private lender and I am willing to put money on the deal as well to make it work. 

Our exit strategy is to Owner Finance the property for $69,900, thus we are looking for a commitment of 12-24 months on the deal. 

If you would like to learn more about the deal send me a message or call me at 281-215-3415

Property info

404 Texas St, South Houston, TX 77587

This is a link with photos of the property

https://plus.google.com/u/0/photos/108495550520653...

Blessings

Hector Perez

832-454-1215

[email protected]

www.janezrei.com

Thank @Nuhan Demirkan for the great response and explaining how you show the owner finance aspect to the seller

I will check your videos as well. Take care

these is a great option to increase the lead pipeline

Thanks @Justin Scarborough for the comment. I know that motivation is crucial.

Probably I need to phrase the question correctly.

I would like to know what is the best way to ask the question to a seller to do owner financing based on their experience and that have worked in the past.

The one that has work for me the most is

Would you consider selling it with terms at the price you want it?

I have been trying several ways to ask for owner financing and most of the time, I get a "not interested" message from them.

Based on your experience what has provided the most results?

This is what I usually say

• Will you consider owner financing?
• Are they willing to take payments instead of a lump sum of cash?
• Do you need to be 100% cashed out or are you able to provide any financing?
• Would you consider selling it with terms at the price you want it?

Any suggestions

Thanks all for the feedback.

I will make sure to get it under contract and have some extra room to cement the pool.

@David Rundle I like your joke of the day

Hello BP,

I have been wholesaling houses for a while in Houston, Texas and today I am going to my first appointment in which the house has a pool?

Any comments from Buy and hold investors?

ARV is $155K

repairs $15K

rents $1350

zip code 77084

Yr built 1981, 4 bed, 2 1/2 bath, 2099 sqft

I think I might get it under contract for $90-$100K

I appreciate your comments

Thanks to all for the great suggestions and feedback.

I am going to put focus on the Elevator Pitch for the REIA and one on one presentation of past accomplishments.

Great information

@Jeff Rabinowitz and @Wendell De Guzman thanks for the input.

What I was thinking was to give an elevator Pitch at the local REIAs and tell people I will be in the back if they have any questions.

I will hand out a flyer to tell them who I am and then follow up by tel, and email, set up a meeting to go over what I do and deals I have.

Do you think it will work or scratch the idea of the flyer?

@Brie Schmidt . Thanks for the input. I really like the suggestions for past accomplishments. I don't have a deal yet to pitch, but I can mentioned what I am looking for to buy and the strategy

@Paul James . the flyer is based on past accomplishments and what I am planning to do. Just wondering what others use so I can benchmark from it