All Forum Posts by: John O'Leary

Id partner with a local wholesaler. Where are you looking to buy?

Yes, you should be able to get it through the Secretary of State, and I believe it is the same as a Certificate of Good standing which is needed if you plan to finance any investment property. 

@Ryan Taylor    In my experience New Western is not direct on the most of their deals. They daisy chain other wholesalers deals and mark the price up, cherry pick comps, and threaten investors with $20,000 fees via a NDA so no one goes around them. As a tenured Lender in this space we do not finance New Wester deals, and many other lenders have stopped  for some of the same practices. I don't want to label all NW franchises, because I'm sure there are some doing legit business but FL,GA, and NC have been horrendous. NO WHOLESALERS threatens a $20,000 fine or makes buyers sign NDAs. I know this because I lend money and wholesale and New Western is always quick to act like they are "cash buyers". Proceed with caution

@Ryan Taylorundefined

As a new real estate investor, it is completely normal to have questions and seek guidance from others in the industry. The world of real estate investing can be complex and overwhelming, and seeking advice from more experienced investors can help you make informed decisions and avoid costly mistakes.

One of the most common resources for new investors is online forums, where you can connect with others in the community and ask questions in a safe and supportive environment. Asking basic questions in forums can provide a wealth of information and resources, and help you build relationships with other investors who can provide ongoing support and advice as you grow your portfolio.

Additionally, it is important to keep in mind that everyone starts from somewhere and there is no shame in asking for help. Asking questions in forums allows you to learn from the experiences of others and tap into their expertise. It can also be a great way to gain new insights and perspectives that you may not have considered before.

Researching on your own is important, but it can also be time-consuming and may not always provide you with the answers you need. Asking basic questions in forums can save you time and ensure that you get accurate and relevant information to help you reach your investing goals.

Iit is perfectly okay for new investors to ask basic questions in forums. Doing so can provide you with a wealth of knowledge, resources, and support as you navigate the world of real estate investing. Don't be afraid to reach out and ask for help, as it can be a critical step in your journey towards financial success. 

These individuals are TAKING ACTION which is the first step.

@Peter Richardson  As a Hard Money Lender I frequently engage with both new and experienced investors who are seeking financing for their real estate ventures. I understand the challenges they face in finding profitable and financeable opportunities. Rather than wait for my clients to bring me a deal, I took a proactive approach to sourcing deals by leveraging my network of wholesalers, joining the Boardroom Mastermind and conducting my own marketing to go direct to seller. This allows me to not only provide financing in a timely manner but also assure my clients of the deal's viability through my willingness to invest in it. This has resulted in building a strong network of clients and expanding my brokerage.

Yes, I feel the analysis is fair, and if you were flipping the property it has a decent margin. The $15k cash back is not a bad thing, It's just probably not every dollar you put in to lock the deal up. Just make sure that you don't over improve the property thinking you will get a higher value. When it comes down to the appraisal when you refinance they need supporting comps. 

Wholesaling is a low risk way to get into REI. Just takes time, and a little bit of cash to get started.

Hi Mason,

Neutral paint, laminate floors, and I wouldn't go overboard with expensive cabinets and countertops on rentals. I would make sure you dive deep into the numbers as a new investor to make sure you can pull cash out on your Refinance. From a lending perspective it's getting more and more difficult to do unless to buy deeply discounted. 

Welcome Jay

Hey Zach,

Max Cash-out LTVs for Hard Money are maxing at 70-75%, and rates for the most part are in the low 7's. There is obviously a range depending on buy downs, credit, and final LTV but 80% is gone for now.