All Forum Posts by: Jonathan Hart

The attorneys and clerks in the probate office are not going to be a reliable source of leads. You will be better off using a pre-foreclosure website and then a skip trace website to locate the owners.

@Lindsay Favazza

PM is a must for me. You can’t put a price on your time and freedom. My PM Company screens my tenants, collects deposits, direct deposits my rents, and doesn’t even bother to call me for the minor issues that pop up. They dispatch a handyman and I see the invoice on my monthly income statement. I pay only 8% PM because I have numerous units with the same company. They also have all of my tax documents ready come tax season like rent rolls, invoices, income statements, etc... LOVE PM!

Price and photos!!!! Make sure it's easy to show as well. I have not shown homes in the past if the sellers showing instructions were too complicated. 

Hi Khory, I would ask yourself two questions. 1. What are you wanting to accomplish? 2. How much capital do you have to invest? If you're looking for a quick cash on cash return or have limited capitol to work with rentals may not be for you. If you have a lot of stored cash and are looking for somewhere to park it other than the stock market or financial institution then rentals may be your choice. 

Keep up the good work here in Enterprise!

Hi Everyone, My name is Jonathan I reside in Southeast Alabama. By trade I am a licensed realtor but my real passion is flipping homes, and building spec houses. I flipped my first home several years ago at the young age of 24 and have built a nice portfolio since then. I've recently started building spec houses as an investor using a licensed home builder to do the work. 

Long story short, the local lender I have worked with for years on flip homes, and spec homes has me not wanting to work with them anymore (best way to word it). I grew their loan portfolio exponentially, introduced them to new investors, and teamed them up with the largest builder in our area. Despite all of my good deeds they've decided they have "bigger" projects they have to fund and aren't interested in servicing my loans at this time. 

So here I am....I'd love to meet other like minded investors, developers, and flippers in my area and hopefully get some tips on whom to use for financing specs. Flip homes are not as important as anyone local will do those with a conventional mortgage. My issue is finding a lender to do at least 80% LTV on a spec.

I would also like to partner with someone that's in a hot flip market (near me) since I'm in a smaller market with very limited inventory! There's nothing more frustrating than waiting on a decent flip opportunity to hit the market!!!

I look forward to engaging with you all here at BiggerPockets