All Forum Posts by: Jefferson Gan

@Christie Disinger realeflow is nice, you can also get leads from there and you can use it as crm. But I am still missing follow-up system that I think they don't have integrated yet.

I am looking for a licensed electrician that can do electrical panel and also inspect in the Monmouth or Ocean county in New Jersey. Appreciate your help..

Hi BPers,

1)   Does anyone know how much average cost for Recessed Light both materials + cost in New Jersey? Or if you have experience in other state, feel free to share what's cost based on your experience?

2) Same question with Windows how much is average cost (Materials + Labor)?

Cheers!

     Jeff

Hi All

Just want to ask if you are creating an LLC 123 Main St LLC for the purpose of either flipping the LLC and re-assigning it (Wholesale) or for fix and flip projects only for that particular property (Rehab). Do you always need EIN and open a new Bank account everytime you create this kind of 123 Main St LLC?

The structure we have

This 123 Main St LLC has two members

1. LLC>

      2. Partner Indiviual

* There will be no employees for this 123 Main St LLC.

---Jeff

@Sebastian Wernicke Go with the comment of @J Scott , network yourself with a Real estate agent. But at the same time, you need to educate yourself by looking at recently sold properties in the area and look at description in Zillow or realtor.com since it will mention if the property has new kitchen, bathroom etc.. so that means it was rehabbed. Don't fully rely on what the real estate agent say, you need to do some homework as well, so you don't be included in those who got burned by what the real estate agent told them. There are still a lot of good real estate agents out there, you just need to make sure you find the correct one (best is referral from another investor).

Based on my experience, Appraiser sometimes get into the picture for Hard Money Lenders, they will hire appraiser to make sure your ARV is correct since you will be using their money and need to make sure ARV is not way off. They typically want 65% LTV. But I think once you get the relationship with HML, you will not need this Appraiser cost/step anymore.

Good luck! Cheers!

---Jeff

Hi All, 

    I was thinking maybe we can have some brainstorming and will be helpful to all PRO members on how other people will approach certain scenario. We can help each other out by learning each other's ideas that maybe we haven't thought of. This will be the first of more questions. Maybe we should have a thread on this "How will you structure this deal" segment :)

Mortgage Payoff Amount: $166,000

Tax Lien: $5000 

HOA Lien: $11000

Payment to make Mortgage current again: $20000 

Utilities Lien: 0

PITI: $1100

HOA monthly fee: $410

Seller needs: $20000 to his pocket (this one is adjustable since if Market Price is not that high and liens is a big amount...)

ARV in the area I would think is only $210,000

How will you structure this deal?

I will also provide my terms just want to bring this up to everyone while I am structuring different options.

Deal or NO deal :)

Thanks

    --- Jeff

Hi,

   I am looking for a system that can help me generate offers automatically. Wherein I will have a contract with variables in it, then I will just define  SELLER_NAME, BUYER_NAME, SELLER_ADDRESS, CASH_OFFER, INITIAL_ESCROW, BALANCE_AT_CLOSING etc..  Does anyone know if there is a system that can do like that? 

Since if I plan to submit a lot of offers, I don't want to keep on modifying Word Document everytime especially if I want multiple offer Cash, Owner Finance, Monthly payments etc..

Welcome @Phillip White to BP! Regarding starting, I suggest to avoid auction if you are brand new since in auction there are too many moving pieces and you are buying properties that possibly you will not be able to see prior to buying. Try reading all the free articles and books here in BP to educate yourself of terms, different ways of structuring deals etc.. Good luck :)

@Andrew Franzen No worries. Thanks for sharing, maybe in the future if you have mailed more if you can please update all of us interested :) 

@Andrew Franzen How accurate are the mailing address so far in your experience for the direct mail you have sent out of REIPro properties? If you can share your numbers at least for e.g. 500 mails how many % got returned due to unable to forward/deliver? I am using realeflow's Lead Pipes but I got a lot of returned mails even my mailing service already checks against USPS.