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All Forum Posts by: John Rogers

John Rogers has started 17 posts and replied 456 times.

Post: Hello- Real Estate Licensing

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

If you are an investor, and also a Realtor, keep the revenue and costs separate.

As an Investor, you will pay yourself (as a Realtor) to find and close properties.

If you flip, then you will also hire yourself to market, list, and sell the property.

By being separate, there is no perception of conflict of interest.

Post: I need a relationship with an individual who lends "privately"...

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

We are a Brokerage that provides services to a network of investors.

To that end, for some of them (read that as out-of-Country) we take title and rehab for them.

When we do these, we need to borrow 100% funding money to rehab. This typically is $ 25,000 or less.

Timeline is 6 months, but we always complete earlier.

We can pay 12% interest on the money... and provide scope of work, property data, Realtor CMA's etc. to justify the loan amount.

Been in the business since 2005, have been offering this service for several years and volume is making it necessary to develop this type of relationship.

Post: Loan Approval: Sweat Equity Report

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

Do a Google search for a "scope of work template".

Breaking it down by task might be what they need.

Post: Hi everyone I do things a little bit differently

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

@Jeff Howard Great story, Jeff... as well as a great game plan for success...

For the next one, you might consider "house hacking". Purchase a 2, 3 or 4 plex.

Live in one unit and rehab another, then move into it and rehab another, once it is done, rent it out... Now you have cash flow to fund the rest of the rehab.

Post: Become an agent or not!?

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

@Jeff Copeland has it correct...

All of us here are Realtors as well as investors.

Do the simple math...

You are both an investor and a Realtor...

You get paid commission to find yourself a property, then pay yourself for the priveledge.

As an investor you rehab... As a Realtor, you shop the property.

Once done, as a Realtor, you get a listing... if you did it correctly you also have potential buyers lined up.

You sell the property and pay yourself for the sale.

Simple...

Post: This may sound funny...

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

I do them as a buy and hold investment.

Considerations:

  • My tenants are lease options
  • My tenants are small business owners and self employed
  • The properties are usually 2 acres minimum and usually have "stuff" (pole barns, stocked ponds, workshops, barns, etc.)
  • Houses are 1500sf  3/2's and above
  • Option period is a year
  • I help them with credit issues and intro them to a lender

Post: Needing help with loans in Orlando Area

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

I would suggest a conversation regarding funding scenarios with @Sam Ally, a member here who is a lender

Post: CFL Hard Money Lender Preferences

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

We should meet and chat. We do HUD homes for around 30 investors that range from "local" to as far away as Canada and Norway. They are always interested in funding sources.

On the rehab, the difference between cost to acquire and ARV is around $ 130K so not an issue...

Post: CFL Hard Money Lender Preferences

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

@Sam Ally

Our needs are "deal dependent" and we do a lot of them with and for investors, or on our own.

Examples:

I just did a $ 192K HML on a flip

I just did a 20K 100% rehab loan on a flip for a client where I am doing the rehab

I am currently looking for a source for a $ 25K 100% rehab loan for an investor rehab... (less than 6 months -closer to three, and the client will pay 12%)

Post: Using an MLS to build a buyers list

John RogersPosted
  • Real Estate Investor
  • Davenport, FL
  • Posts 516
  • Votes 152

You are getting some GREAT info from @Account Closed.

Once you find a "farm area" to work, and follow his advice RE the Property Appraiser's site.

There, you can locate homes done by investors.

Once you locate them... two things...

Do a search on the PA site using their name as the owner.

If they are investors, it should produce a list of properties.

Next... on the PA site, make noe of where the property tax bill gets sent. THAT starts your buyer's list.

Good luck...