All Forum Posts by: Jordan Ray

@James Wachob 

Its actually called "interested party" but you need to be listed as this on their policy and they will send you mail notifications

LLC insurance? You mean business insurance? Are you running a short term rental operation? If you are build a portfolio of LTRs you don't need business insurance, only a landlord policy per rental.

A good investor's agent knows when its necessary to request repairs or even concessions to offset the cost and even have repair money escrowed for the buyer to draw from after closing. Another thing to consider is the opportunity cost of the property. if you are unable to negotiate repairs while under contract, a price reduction, or a credit at closing. Consider the lost opportunity cost if you did not close on this property, regardless where your numbers could be at. Some factors to consider are appreciation and tax strategies. Just a few things to consider whenever underwriting properties during negotiations. If none of these factors work and your crunching numbers to the final dollar... it may not be a deal worth buying in the first place.  

Yes! Short sale/Loss Mitigation applications with your agent can avoid foreclosure. You need to hire an agent in NJ that specializes in short sale transactions and has experience with this! The short sale real estate agent should be able to advise you on all of the loss mitigation options and laws specific to your state and help you with each option prior to listing for sale as a short sale and trying to liquidate the property. They should also be able to get paid in certain scenarios other that selling and/or they can charge an up front retainer fee to charge you for the paperwork if that is all they do. In most cases the short sale listing agent would be able to advise of each scenario during your consultation and not charge unless they sell the property. Hope this helps! Let me know if you need help finding an agent that specializes in short sales in NJ!

I love section 8 and its always a nice cherry on top for my BRRRR deals in Memphis TN!

Hey not sure partnerships really change the terms of your hard money loan. I use a hard money lender here in Memphis TN that is 12% interest paid 1% monthly, 100% purchase & 100% rehab w/5points up front. (Usually results me less than $10,000 out of pocket on the front end) I am pretty sure wether operating independently or partnering with someone using their loan it would be the same terms. Let me know if you would like me to connect you with them! Good luck investing!

Your welcome

I know one of the biggest investors in the area, his name is Dustin Ring. Call him, https://dustinbuys.com/

Potentially or I could be your buyer on 1 or 2. I am also buying!