All Forum Posts by: Jonathan Barr

@Fred Watson

I would find a partner that can fund part the deal with you. Maybe they have more experience and can help with contractor contacts and other tips and tricks.

@John Laney

Sorry to hear that John. I think you will need to be that squeaky wheel. I also think that you operators true colors when issues arise. Maybe it’s time to look at new syndicators. A lot or great smaller syndicators out there where you will get more that red carpet treatment. I can connect you with some if interested.

@Philip Coiro

I have bought a couple deals online in California buts definitely very rare and tough. This was also a few years back. If the economic impact COVID hits real estate hard I could see deals coming to does sites. It’s definitely buyer beware on these sites usually they are on there because they are problem assets.

sort of like the ebay of real estate and you can finance it as you can complete in the time period.

@Giancarlo Sarmient

Not yet put I was told they will be putting out a nationwide product soon.

@Anthony DeMichael

PropertyRadar.com

Auction.com

Hubzu.com

Xome.com

Hi have you talked to buying it directly from your in-laws?   If they are under water you maybe able to negotiate a short sale with the bank at a lower price. Maybe help your in-laws on the side for moving cost and 1st months/deposit etc... The only thing you may need partner with friend because I know some banks don't allow short sales to related parties. The other thing is you maybe able to reach out the bank directly and see if you work something out .  Lastly if it does go to foreclosure you will be the most prepared to bid it and most can bid anyone else out most likely.   I don't know the foreclosure process in your state.   In Ca you would need the full purchase price in cash to bid. You can quickly cashout refi your money out. I've been involved in the purchase of hundreds of foreclosures so definitely have wealth knowledge with this.

Hi I haven't used my HELOC yet but I plan to invest it into apartment deals I am working on. The spread between what I'm paying on HELOC and what my returns will be nice. So the way I look at it, its free money!

I swear on propertyradar.com its the best data you will find and website is very intuitive.   You can try them out for free.

I would just put into your model that the rehab will cost 25-30% and that same amount in additional time. Just make sure you have enough room for error.