All Forum Posts by: Hugo Alves

@Allan Szlafrok Great point!

Trudy make sure you review the HUD market rent files for your area also.

You can find the link to it on BP under "tools" "rei resources"

Eric,

Thanks for the update. Feel free to add me to your buyers list. I'm always on the lookout for a great deal. 

James,

Here's a few pieces:

• Pick your niche (spend time deciding on which one realty gets you energized)
• Pick your farm area (learn it)
• Stick to the two above until you have consistent business
• Don't skip any processes, don't get caught up on which comes first (finance or deal)
• Market yourself and your brand
• Network as much as possible (REIAs are great, the networking is just as much if not more important than the information being downloaded)

Hope these help, because that's everything I did the opposite of when starting out and delayed my growth.

Just being honest

Sam,

You determine their value. There are a ton a wholesalers, some add more onto the price than others. The key piece is to vet them like you would anything else. Once you find one or a few you like, give them your criteria, not the rental information but more based on the areas you're are looking at. If you know the area, know the market rents, then by quickly looking over the "deals" you will identify if it's really a "deal" or make a counter offer on the asking price.

With that said, buying it right is the MOST important thing in real estate. I spend most of my time searching for the deals myself, with assistance of a few agents, then i automate everything else going forward due to my lack of available time.

Wholesalers are a good resource. You have to sit back and decide which part of the equation you want to be most involved what you can are willing to automate.

Hope this helped

Trudy,

Are you registered with section 8? They always have people looking for a place.

Found this o another thread....Don't know if it helps at all....Guys name is Bob Cannon

 25% down, 660 mid-score, 75,000 minimum loan amount on the purchase. They will require 12 months payment seasoning on the loan before a cash-out refinance. Terms are 5/1 arm or 30 year fixed. We do this loan in 35 states and Florida is one of them. You must have previous housing history and own a primary residence.

801‑573‑7070 | UT Lender # 305694

Forgot to mention, you can gather cash from other sources but the requirements adjust a little. It's explained within the link i provided.

Chris,

I listened to the same podcast. Below is the link to the fanniemae website which breakdown the requirements. The process itself is simple as long as you use your own cash or a HELOC cash to purchase the property originally. Then when going through the finance application, you must meet the standard mortgage requirements. Hope this helps

https://www.fanniemae.com/content/guide/selling/b2/1.2/03.html

Eric,

Surprising enough, I'm unable to find this information without paying for it. Have you thought about contacting the buyer's agent to see if they can provide you with a lead?

Varinder,

Interested in reviewing what you have available. Email me @ [email protected]