All Forum Posts by: Jarred Ross

Fees vary, usually a few thousand. We do a lot of the legwork to keep costs down.  Lawyer has fiduciary to the seller so they will pay. Let's connect on it if you are serious about taking this down

Glad to hear

@Steven M. Did you give up on this one? The foreclosure timeline is definitely a consideration, but all that's needed to start is to verify the owner's identity and see if he has any surviving relatives, there's almost always someone. Then work expediently to probate his estate with a competent attorney and buy it from his estate once an administrator is established. I do deals just like this in Philly regularly 

Do you know the identities of her children in the Philippines? I may be able to help, if your client hasn't taken other action yet. I'm not familiar with the exact process of probating an estate to out of country heirs and I'm not an attorney, BUT I know the proper identification and documentation are required regardless. 

@Carlos Carrion My company handles this exact thing. We do historical research and heir locating for attorneys and title companies. I'm sending you a DM also

I'm a brand new agent, just got a call from hudexchange.com regarding their $250/mo lead program and the lady on the phone essentially told me I could expect to close 3-5 deals from he leads they give me in 2 counties in my first month. Obviously at that point the return is great, but I'm new and I've never heard of these guys before. Anyone have experience with them?

Here's what I'm looking to do, I've been calling it a "land contract on a land contract". I want to buy a property from the seller at $21,000 over 6 years. I want to then find a buyer to take it at $40,000 over 6 years. Guess you could kind of call it a wraparound mortgage? Is there a way to set this up, maybe a specific term to call it? I'm cautious because of the Dodd Frank stuff. I'm not looking to break any laws here.

Reason to do land contract vs just renting it out is the work that it needs. Garage demo'd, roof redone, some plaster work etc. Please let me know your thoughts. Thank you!

@Juan Bravo Did you ever end up buying property there? 

PR very recently came onto my radar. Whoever in this thread has interest in or has already invested on Puerto Rico, shoot me a message and we can chat some

I'm practically brand new to investing; my first wholesale deal is in the works, hopefully closign soon.

I cam across a very exciting opportunity; seller has a 7 unit, 5 unit, and 4 unit he's selling for $150,000 to pay off liens and back taxes on some other properties he has. If I buy these from him, he said he would owner finance another 17 single family homes with no money down.

I've been calling lenders all over and I'm getting kind of tired of dealing with them. I have some loan apps in the mix seeing if they get approved, but I've been leaning toward syndication more and more. What would you say if I told you I'm looking to get 5 people to put down $30,000 each for a 10% stake in 2 properties that make $65,000/year combined (total value= 325,000 at the local 20% cap; yearly return of 6500 per person or 22% ROI). I would be keeping 50% for myself and essentially not be putting any money into the transaction. Is this greedy? If so, what kind of numbers should I be asking for?

I would much rather have the passive income that take some kind of a fee for this deal by wholesaling it. I don't know, it seems like I'm hitting a wall over and over with lenders not wanting to go so low and really ripping me for not having a "steady job" since I do this full time. I figured they'd focus more on the fact that the proprieties bring in so much money. 

Any advice is appreciated. WHEN I make this deal happen, I'll triple my income from my old 9-5!