All Forum Posts by: John Rogers

@Account Closed is exactly correct.

We are a Brokerage of investors, and most of our clients are also investors.

As Realtors, we offer services to those investors in exchange for simply acting as their Realtor.

As investors, we do the full disclosure necessary, and use our license to research, acquire, then market and sell those properties.

To wholesale, all you need is a contract... Join a local REIA, and they can help you find one to download and use.

Good luck...

First off... I'm jealous...

Second (check with an attorney, but) I believe that if he lends you money personally and you pay him back, personally, it shouldn't be an issue.

It's where he lends to an entity that it will get complicated and need accountability.

Can you rehab a property?

If yes, think about partnering on a JV deal with a cash partner.

You find it, rehab it, and sell it... they fund it and when sold, you split the profits after all debts are satisfied?

Interview local "investor friendly" Realtors and have them set up search parameters of the types of homes you are interested in. (things like zip codes, price per square foot, etc.).

Join the local REIA and get the word out there that you are looking for properties. That will get you onto wholesaler mail lists,

Gor to social media sites like Facebook and research the Groups for ones in your area that have a membership of folks similar to you.

Good luck...

I am from Florida... the State with the single largest concentration of manufactured homes on land.

There is a huge inventory of homes available in the 15K to 70K range. What they almost all have in common... they need to be rehabbed, their is a definite upside for resale and money to be made, and for the resale, there are mortgage lender who will write a mortgage for an end user, owner occupant.

These should be a perfect low cost, point of entry for new investors that don't have deep pockets, and offer a low risk entry point into investing.

The difficulty here has been in finding lenders who will provide purchase and/or purchase & rehab loans on this particular type of property.

If you know of a lender, I would happily share it with investrs that favor this type of property.

Thanks,

John Rogers

Every market is different and it is all driven by supply & demand.

But... I get it...  Rental pricing is, and will always be... regional.

Consider the 2 1/2% rule...

Take your purchase price as the base number.

Use a service (like rent-o-meter) to see what typical rents are in the surrounding area and look for a comparable property.

If monthly rent doesn't at least equal 2 1/2% of the purchase price... walk away. 

We are a HUD approved Brokerage.

We work with a number of investors helping them purchase. We do this as a Buyer's agent, as HUD pays our commission.

If we rehab for the client, we also act as a listing agent, putting the property back on the market for sale.

Using a buyer's agent for acquisition will work to your advantage.

We can set up a small, multi-family property search for you that is automatically emailed.

Also, we work with investors, so have a Rolodex of lenders, etc.

Contact us to discuss.

Have not tried it myself, but know of someone who found a lender that would do assumable mortgages and uses that to finance the house.

She does disclose to her buyer, what they are buying, and I believe they make up her profit in cash.

Sorry... don't know more than that.