All Forum Posts by: Joseph DiBernardo

I am interested in connecting with any wholesalers or investor friendly realtors in Suffolk County, specifically in Eastern Suffolk County. I am interested in distressed / off market properties for fix and flip opportunities. Thank you!

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Long Island, New York

Shot you a connection. Would love to be added to your list ! I have one STR in the area and am looking to expand. Thanks!

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Myrtle Beach, South Carolina

Thank you all for your thoughtful insights ! We negotiated but couldn’t Come to an agreement. A “follow up” deal for sure. Thanks so much!

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Long Island, New York

thank you for this insight. I am certainly going to check this out

Quote from @Pace Jordan Morby:

Joseph.... first off... congrats on taking action and jumping all over this!!!!

I have done a few thousand seller finance and subject to deals in my career. In my experience the seller is not looking to sell to an investor and most likely does not care whether you will cashflow or not.

I would assume that this seller is not HIGHLY motivated and I would put them in the "follow up" category. 70% of our deals (we bought 15 this week) come from 13 follow ups or more. Our team does not try to create motivation... we try to wait for motivation through follow up.

If you are looking for a deal TODAY that will give ZERO dollars out of pocket... and yes they are abundant... I would go FOCUS on motivated sellers. In fact Im typing as I do a youtube LIVE and Ill talk about a few deals this week I purchased with zero down and between those 15 deals our average interest COMBINED is less than 3%.

Where are the motivated sellers?

A: ON MARKET.... Listed properties OVER 120 days on the market. I would never reach out to a broker/realtor and ask for creative terms with low down payment and less than 4% interest until they hit the 120 day mark.

B. OFF MARKET... my preferred strategy. Go for Low Equity. Expired listings. Add a filter for homes that were originated in 2018 through 2021 and you will get ZERO down and VERY low interest. Go watch my youtube and Ill give a few examples.

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Long Island, New York

Thank you all for the responses !

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Long Island, New York

Good morning -

I have come across a property I am interested in. The PP is 263K. The seller is offering terms of 15 years , 6.5% and 30% down. This property is a condo on Fire Island and generates roughly $20k in Net Income per year.

With those terms - the cash flow is essentially 0.

I have a call with the broker tomorrow to try to understand the seller’s position and motivation for selling, among other things. With that said - I’m wondering if anyone has recommendations on ways to get creative with seller financing that could generate positive cash flow? Granted I understand that will be dependent on what the sellers goals are but curious what levers I could pull.

Thank you in advance !

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Long Island, New York