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All Forum Posts by: Jarred Black

Jarred Black has started 11 posts and replied 27 times.

Post: I am giving away a free rental house in St. Louis

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5
Hey I'm interested in the house you plan to give away. Where is it in STL and how extensive is the rehab? I have proof of funds.

Post: Metro East - Investor Secret...until now!

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5
Don't leak the secret lol. I invest here with little competition while everyone flocks to the St. Louis counties. Prices are low with small appreciation gains but high returns due to the high rents. Very stable market! Perfect for the cash flow investor.
Hi Lindsey, Welcome to BP!! This is seriously the best site for real estate investing. I'm currently wholesaling in Belleville. It's awesome when I meet others doing business in my market. Feel free to reach out anytime. Good luck in your business!!

I have a seller with a well maintained 3/2 house with no A/C in a C neighborhood. Seller has very little equity. 52K mortgage on a house worth 60K. The seller is older and wants to downsize and move to a duplex. She only wants what she owes or for someone to take over the $623 payment. $138 principle, $485 interest (she showed me the bill). He mortgage has an 11% rate.

She's currently refinancing to get a lower payment. She's open to lease option or subject to for the new mortgage payment. My strategy is to hold it as a rental.The house will rent for $800 or $900.

I'm just not sure how I should structure the deal. Lease option or subject to? I'm concerned about the due on sale clause but i do want interest in the property.....looking for some good feedback BP

I have a seller with a well maintained 3/2 house with no A/C in a C neighborhood. Seller has very little equity. 52K mortgage on a house worth 60K. The seller is older and wants to downsize and move to a duplex. She only wants what she owes or for someone to take over the $623 payment. $138 principle, $485 interest (she showed me the bill). He mortgage has an 11% rate.

She's currently refinancing to get a lower payment. She's open to lease option or subject to for the new mortgage payment. My strategy is to hold it as a rental.The house will rent for $800 or $900.

I'm just not sure how I should structure the deal. Lease option or subject to? I'm concerned about the due on sale clause but i do want interest in the property.....looking for some good feedback BP

Post: Refinance to Seller Finance

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5
The seller wants to move badly, very motivated. She only wants what she owes. I would consider subject-to financing if her mortgage payment was lower . I thought if she refinanced and got a lower payment., I could do the deal.

Post: Refinance to Seller Finance

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5
I have an opportunity I need some feedback on BP. I have a lead on a single Fam that would make a great rental. It's a 3/2 in a C+ neighborhood. The seller owes 52K. The ARV is between 75K-85K. The house is good condition, maybe a couple grand to get a occupancy permit, rent for $800 The seller is open to seller finance (very motivated). Im thinking I could do a subject-2 (need info on the due on sale clause) but the seller's mortgage is 623/mo with an 11%. Now the seller mentioned she could refinance for a much lower payment. Can I still do the subject to after a refinance?do the numbers support it?

Post: Wholesaling Business

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5
So I've decided to take my wholesaling business seriously this year. It all starts with marketing. I bought a mailing list from listsource targeting absentee owners and postcards from yellowletters.com. My mailers went out on Jan 12th and I got my first calls today. So glad to see I'm getting responses. Now I plan to keep working the phones until I find a deal. I'll keep mailing to this list for next 5 months. This is definitely getting exciting again!!! Just looking to vent my progress and take any comments or advice. I like talking about this stuff!! Can't wait to get the next deal!!

Post: Southwestern, Illinois

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5

Hey Fellow BP Members,

I am a active wholesaler in the St. Clair County, IL market. Right now, I'm ramping up my marketing campaigns for leads. I deal with single family and small multi's (1-4). 

I'm looking to connect with other active investors who are looking for deals. 

Please feel free to contact me with what you're looking for or if you just want to talk real estate. I'm looking to surround myself with like-minded investors.

Post: Is rental income taxed?

Jarred BlackPosted
  • Fairview Heights, IL
  • Posts 31
  • Votes 5

Thanks for the feedback everyone!! Good to get a consensus from BP..