All Forum Posts by: Jeff Fairchild

"you will at least need a hard money lender to give you pre-approval letter for financing."

So you get a preapproval letter to show them but you don't take funds out using it right?

Can someone explain the whole process including what happens at the title company so I can get a feel for it?

Also, what should I tell the realtor and investor buyer?

Will it need to be a double closing?

How much money will I need to put up front?

Is there a way for the investor to pay all of the up front costs instead of the wholesaler?

Isn't there a way to use the equity in a different house, like when you buy a property from the homeowner subject to for example and you also need to give them a $20,000 loan. Most people would secure that loan to that property and when they fix up and sell it in 6 months, they would need to pay off that loan. But, if you give them a $20,000 loan secured by this other house, then you don't need to pay it off when you sell that house you're buying, right?

Hey Eric,

What are the best places around Portland to find the best deals and which places do you avoid?

Bird dogging is where you are only doing marketing and nothing else. You get a "lead" aka someone who is a bit interested, and you give the lead to an investor. A wholesaler does a few more steps, following up on all leads until one is an actual deal, and writes up the contract. Then, also markets the contract to investors and sells the contract.

How are you doing now 2 years later steve?

Portland metro/vancouver is pretty high in foreclosures. The market is pretty stable due to it being a great place to live. There are plenty of houses that need rehabbing.

You know what, what matters is "is it possible to make very good money in oregon real estate investing"

Who cares whether a property cashflows or not. If you aren't making money in the portland metro area it is more due to your attitude or lack of knowledge/action than because of the area.

I'm in vancouver WA. I'm looking to build my list of investors, rent to own buyers & private money lenders.

type
real estate private money lending
into google, buy one of those courses or just do a lot of research. You'll learn how to do it from doing that.

By the way guys, hard money lending is quite different and more costly than private money, so don't confuse the two.

I don't own the course, but alan cowgill is supposed to be the man when it comes to private money.