All Forum Posts by: Jeremy Davis

@Chris Levarek

I'd actually be curious to hear about your experience with Monday.com

What do you think of it, and have you had any experience with other project softwares?

@Caleb Rigby that sounds like a great fiscal!

I'm focusing on the SL valley right now, but with how well you're doing, I have a feeling we'll probably work together in the future ;)

Feel free to get in touch!

@Bryson Cain you can start by elaborating your question ;)

@Pedro Cardoso

Font mean to be rude, but you will more than likely EVER find a property in the downtown area or LA proper that you can Brrrr.

Even house hacking will be hard. Remember, you will need to find a home that rent equals roughly 1% or more of purchase price. If you can find a duplex or a primary at $300k that could work at $3000 a month in rent, but good luck finding that property at that price in Los Angeles. How do I know? I just left Los Angeles after 38 years for more realistic markets.

Good luck

@Caleb Heimsoth

Totally agree.

After skimming this thread, I see something that has not been mentioned yet, and that is "Usery" laws, aka loan sharking.

I myself was luckily saved by a savvy attorney that caught my actions before I lost over $100k. Long story short, a colleague asked for a loan towards a flip, and I would be secured by either a promissory note or backed with a title on another property worth much less.

When I was promised a 10% return in 3 months, I was stoked. But what I wasnt aware of, and didnt think about, that loans are perceived as an ANNUAL percentage rate, APR duh. So in the eyes of a judge or commissioner, my loan equated to a 40% APR, which can be seen as loan sharking.

This information was backed by other attorneys I have since brought the story to. If I didnt get my money and took him to court, the original agreement would be considered null and void due to an unethical APR.

Remember this next to you lend...

Hey everyone, not sure why I didn't get the notice for this topic in my keywords, but count me in!

 Ok Ryan, I'm going to be blunt here, but you need to step away from wholesaling as quickly as possible until you learn the basics of real estate, financing, and business in general.

Let me ask you, do you think the seller is in possession of the title, or the lender that is in control of his VA loan? If he still owes money on the home, it doesn't matter AT ALL what he "wants to sell it for", because unless that original note is paid off, you or your buyer is getting NOTHING in terms of a title.

With that said, this does open up to "creative financing", but you are far from reaching that point. Take a step back, read some books, and try again in a couple months. If you don't "understand mortgages", you for sure don't understand leins, comps, rehab values, etc...

I don't mean to be cold, but you are going to get yourself VERY hurt legally and financially if you keep down this path

Great job! Was this an assignment or did you actually take possession?

Generating lists, pulling data, going to government buildings.... That's the classic approach, we've all done it. But when looking at products like Propstream, or REIPro that have a maximum allowance of list size per month to be exported, do those of you with memberships feel limited, or is that far more than you would need? Or, in the same fashion, do you generate your lists in a hybrid manner, and still purchase equity lists "ala carte" from other providers (where easy to obtain), and focus on the harder to reach lists with your membership service?

I guess I'm wondering how you all feel about these services. I'd be very afraid to pull a list of let's say "10,000 absentee owners", and have the skip data be far from accurate, and now I need to wait until next month to pull more data.

Just some experienced insight is what I'm asking. Thanks BP!

Let me rephrase your statement in to a "less self-defeating" tone:

I believe I live in an untapped market, and because of that, I may have less investors and cash buyers available to me as compared to hotter markets. If you were in my shoes, how would you find buyers looking to purchase great deals out of their normally operating farm area? Thanks

See how that sounds better? :)