All Forum Posts by: Josselyne Lugo

The strategy I used to acquire my first rental property was using someone else's money @Josselyne Lugo. I partnered with another investor on the deal(who brought the funds).

The deal was beneficial for both parties instead of taking wholesale fee I took the long-term route. However I already had a well established relationship with the investor

Thanks for your input Sterling.

Can you please tell me a little more about the terms of the deal.

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Hello BP!

I was looking for some advice on how to purchase a home with no money down.

I am currently interested in purchasing a rental property that is owned free and clear. I wanted to get creative on purchasing this home with no money down. The property is currently being rented out. I am a newbie to investing so I would really like to hear strategies from other more experienced investors. Any ideas on how to get this deal structure? Thanks in Advance!

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Originally posted by @Kyle Leinart:

Where is the home located? I may be interested if you still have it available. As long as the numbers are there, comps and repairs, and the property is in a good location, I think it would be a decent deal for a buy and hold. For a flipper you would need to be all in (purchase price, repairs, and your wholesale fee) at 70,000 or less.

Hi Kyle the property is located in Alamo it is near the highway and current tenants would be willing to pay $1000 to stay in. The property is still available

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Originally posted by @Kyle Leinart:

Hi josselyne. I am interested in deals here in the valley. Feel free to reach out to me and we can talk. I am actively buying in McAllen, Mission, Edinburg, and Pharr. My contact info is on my profile.

Hi Kyle. I just saw your post. I sent a couple of deals to your email.

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Hello BP!

I was driving for dollars the other day and I came across a property that looked abandoned. I searched up the property address on the tax assessors website but the mailing address was the same as the property address. I know for a fact the property is abandoned but someone has been paying the taxes. How can i find the owner? I know that if i send a letter i can request the mailing address. My question is what am i supposed to write on the envelope to get the new address? is it "Do not forward" or "Address Requested"? Does anyone else know another way to find an address for the home owner besides skip tracing? Thanks in Advance!

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Originally posted by @Eric H.:

Originally posted by @Shawn Duncan:

I was wondering if i could get some feedback on structuring a good owner finance deal. I have a seller who owes 95k on a home that has an ARV of 170k. The home is needing about 8k in work. I plan to wholesale the home to an end buyer. My question is, if the seller does not accept my cash offer, how could i structure an owner financed offer that would make sense for the home owner as well for the end buyer?

What terms and downpayment would make sense for you as a buyer looking for a rental or potential flip?

Owner finance deal won't work if seller owes mortgage. If you are looking for owner financed deals look for sellers that own property free and clear, have no mortgage. A good book on structuring owner financed deals is Owner Will Carry.

Hope this helps!

Sincerely,

E. Harris

IF the property is free and clear. How would the owner financed deal be structured to wholesale? I am in a similar situation but the home is free and clear and I want to wholesale it but seller wants owner finance.

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Hello BP!

I just wanted to know if there are any investors on BP that are interested in investing in the South Texas area. Specifically the Rio Grande Valley. Mcallen,Edinburg,Alamo,Mission etc. I currently have several deals ready to be closed on. They range from rentals to raw land. If you are interested please send me a message with your interests. I look forward to working with you. Thank you.

-Josselyne Lugo

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Originally posted by @Lafi S.:

@David Ward @David Battle Honestly not long enough. If you check my recent forum posts you can see we just started this weeks ago. But I can tell you that in 2 visits the kid I hired got me about 700 leads. There's been a lot of set backs setting up so the campaign hasn't launched yet. But again this is why I'm really excited, getting our hands on these leads in bulk has been a real pain so I'm assuming there's very little investors out there doing what we're doing on this scale. Waiting to hit a 1000 leads before I a launch so hopefully I'll be able to discuss my results very soon!

I know this post is old, but how did your campaign turn out?

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Originally posted by @Steve Vaughan:

I would buy a property like that from you in a heartbeat for a buy and hold. Not enough room for your average flipper. Find a buyer looking to increase their rental portfolio. Go to a REIA meetup and advertise it. Other landlords in the area looking to expand? Call some PM co's and see if any of their owner's are trying to grow @Josselyne Lugo!

Thanks for your input Steve. I guess I would need to target buy and hold investors. Im used to targeting rehabbers. I will give it a try. The next REIA meeting is in a couple of weeks so I will see how it goes then. Again thank you so much.

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I don't want to lock up a deal that would give me a bad rep as a wholesaler (Not bringing valuable deals to the table)

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All Forum Posts by: Josselyne Lugo

Josselyne Lugo has started 16 posts and replied 73 times.

Post: Buying a home with no money down???...

Post: Buying a home with no money down???...

Post: Deal or no deal?

Post: South Texas Investors

Post: Where is the owner?

Post: Wholesale owner finance

Post: South Texas Investors

Post: Probate Leads

Post: Deal or no deal?

Post: Deal or no deal?