All Forum Posts by: Julio Velazquez

@Mark Durham that’s what I was a bit confused on. I take it you’re currently doing or have done these creative deals.

@Oluwatobi A. Welcome to Bigger Pockets. You've come to the right place. BP is all about helping one another and networking.As far as wholesaling and fixing and flipping requiring less capital.. There's a lot that go into both, stay engaged in BP ask question read forums listen to the podcast. There's some thing's flippers (newbies) often miss or don't take into account would be "Holding cost" ( this is the cost of having the property while you're rehabbing. EI: Mortgage, insurance, utilities etc. ) ..

And with wholesaling just make sure its legal where you are, find someone who's done it and see how they're doing it to avoid any legal complications.

To your success.

Hello BP,

When it comes to Seller/Owner Financing how does this work when the seller/ owner still have a mortgage on the property? Do they pay the mortgage via your payments, Do you make the payments to the lender.. if the payments go to the seller how can you protect yourself in the event that the seller stops making the payments to the mortgage and you don't lose the property?

Thanks in advance.

@Aaron K. Understood. The population is about 16,000 in that area.

Hello BP,

If a hotel and casino is proposed to open up in a city or town and let’s say it does open up.. what does that mean for the real estate in that city or town? I understands it does open up more jobs. so that’s a good thing; but does that mean real estate prices would go up automatically ?

Hello BP,

I often hear there are deals everywhere, some even say they got their first deal from a listing off MLS, Zillow etc.. I've been using the BP calculators to analyze deals but a lot of the information being asked is all estimates.. For what ever reason the area I'm looking at when I search for comps in the area on zillow or trulia usually other properties with similar price points were sold. The rehab is an estimate as well, So how do I know I'm analyzing the deal correctly?

I know you have to look at around 200 listing to probably come across 10-20 worth actually looking at. 

The uncertainty of doing it correctly is a little daunting..

Thank you in advanced.

@Mike Sullivan If the numbers make sense then Detroit does make sense. By numbers I mean population growth.. unemployment rate, poverty, things in that nature..

I’m curious as too how the Detroit market is as well.. I’ve been reading and hearing good things. To my understanding property value increased 20% in the Detroit area best it’s been in a while from what another member on BP wrote.

Best of luck.

@Lorenzo Wright Wow that’s a huge difference. I’m not surprise that pictures can paint a different perspective of what it totally is. But in this case they didn’t hide anything. Everything looks terrible like a full gut job

@Brian Pulaski that’s what I figured as far as pictures but for one property I was looking at it looked like it needs a whole gut job.

Is there any way you may share the spread sheet with me?

@Greg Dickerson Makes perfect sense, thank you.