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All Forum Posts by: Jason Holmquist

Jason Holmquist has started 3 posts and replied 6 times.

Post: Meeting with a wholesaler

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2

Hey guys, I meeting with a wholesaler tomorrow and it’s my first time going into this.  I’m using a local company that has actually been posted on here (Networth Realty). Anything thing I should ask the broker on my first visit? be weary of? I know at the end of the day it’s my decision to pull the trigger on an investment property but I want to make sure I’m a little prepared before I go in.  I do plan on walking in with reviews about them to see if they can explain what may have happened in certain situation (is that a bad idea?) Any suggestions would be much appreciated, thanks!

Post: Cash only deal myths?

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2

Thanks everyone! @Andrew Johnson I’m using propelio because they offer comps in dallas ft. worth where I’m at and a group I’m involved with on Facebook. It’s almost overwhelming to see the amount of properties going up for sale in my area for a flip, wholesale, or rental. It’s just the ones that make sense from an investor stand point are all cash deals, but the point you made about multiple deals falling through really makes sense to be honest. I also learned from an investor friend of mine today that most cash deals accept hard money loans as a “cash deal” as well. I was under the impression that any borrowed money wouldn’t qualify as “cash only.” 

Post: Cash only deal myths?

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2

Hey everyone, so as I'm trying to get into my first flip I'm finding the best deals as "cash only." So before asking here where I knew I'd probably get the best answers I went to google first. I'm finding (most notably trulia) that the main reason for a home to be sold cash only is because a bank won't finance it mainly for 1 of 2 reason. One, there is something wrong with the property that would take so much to repair that it's not a good investment for them. Or, their is some type of litigation going on with the home it's self or the HOA. I'm not saying there is anything wrong with trulia, but maybe the people on that forum are not in the flipping business. Are these reasons actually the main reason someone only wants a cash buyer, or does a cash buyer just make that transition much easier and faster?

Post: Foreclosure Question-Courthouse Foreclosure Property

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2
There’s apps you can use and pay monthly for that offer listings like that in certain areas, don’t think it is in PA though. I also think it’s against the rules of BP to advertise these services. I’m not a licensed realtor so I had to find out how to get these listings without having the resources most realtors have.

Post: First time purchase

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2
Thank you Patrice. I wouldn’t be living in it, just a flip. Although I’ve thought about getting a conventional loan on a fixer upper then paying out of pocket for the remodel and renting it out. Just seems like that option for my first property wouldn’t give me the returns needed fast enough to move on to my next property

Post: First time purchase

Jason HolmquistPosted
  • North Richland Hills, TX
  • Posts 6
  • Votes 2

Hello everyone. I had a question regarding my first purchase. When applying for the loan, should I do it in my own name, or create an LLC and apply in a business name. Eventually I want to put all properties in a business name but I'm worried going to get a loan, whether or not hard money or conventional, that my first attempt will be more difficult if it's my business's first attempt at getting a loan. Any suggestions?