All Forum Posts by: Jonathan Barr

there will definitely be an uptick in foreclosures but like @Andrew McGibbon nothing like we saw 10 years ago.   Don't systematic loan issues we had last time around.

I don't think so....I think they put hold regardless if you win it or not.

I've bought from them a couple times in LA successfully.   The process can be a bit cumbersome.   Those was a couple of our better deals though.

I use propertyradar.com depending on the state you are in.   I know they will coming out with nationwide product soon.

I would just put nest and call it day.   I have worked on multi-million dollar flips in LA and have gotten away with just a nest.   Especially at that price point not necessary.

I would suggest probates. Sometimes for whatever reason they don't marketed on MLS and you can go bid at court with less competition. It takes more work going through court records trying figure it out. Most info is now available online. The other thing I like about probates usually the bones are good they just major cosmetic updates. I also think the probate can be intimidating if you don't understand it. Its quite a simple process that you shouldn't be scared of.

Hi,

On my first flip deals I had private high net-worth investor put up all the cash. The private cash secured by a note on the property and vested ownership.  I then did all the work and we split the profits 50/50.  Though there are ways to make the deal more profitable there are inherent benefits with this strategy as follows:

1. Don't have worry about making payments therefore delays in project aren't as costly.

2. No costs involved that would normally be associated to an expensive hard money loan.

3. If you do well for this investor they will most likely expose you to their network.

4. You can close quicker and use a cash offer as negotiating tactic to get a better price.

5.  You can buy at foreclosure auction with cash as well( Though this is much more risky proposition and you need to do your homework.

Ultimately this option gives you the most flexibility and doesn't put burden of an expensive hard money loan over your head.  I think this best option when starting out.   Right now is time to create those relationships to be ready for opportunities down the pipe.

@Caleb Brown

Looking in midtown, kck, Shawnee, Overland Park, Lee’s summit and was looking something in Benton.

I'm looking in the midwest mainly Kansas City for my replacement.   I already bought a 14 unit apartment there.   LA there is nothing that cashflows YET!  I'm prepared to take to hit instead of trying to make something work that doesn't really work.

@Kevin Lisewski

Hi my accommodator said my funds could be released after 46 days with state withholding a being taken out.