All Forum Posts by: Kai Kopsch

You found the right place BP! now connect with members that buy homes in you're area ASAP and make a deal before it's too late. 

Wholesaling is one exit strategy for RE investment that got hiped over books and online courses to make fast cash. The truth is the opposite. To become successful in wholesaling, you need to be a long time in the RE Industry and have local connections, and Financial strength to you're own transactions. Doing this out of state is not impossible, but the toughest way to start in RE

The good news moving forward is that the housing market in Charlotte and Raleigh is cooling off, which means there will be less pressure on home buyers to put in an offer immediately. I helped a BP member a week ago to close a home in Charlotte that can be described "as the deal of the century"! There more deals out in this market shift. The fundamentals in Charlotte and Raleigh strong, meaning job growth continues to be robust, people continue to move here, and the cost of living is relatively low. We only have 1.6 months of inventory in CLT;a stable market is six months.

It's against FHA rules to change ownership to an LLC within one or two years. You will be required to move into the property within 60 days of closing and reside in it for at least one year. Please talk to you're lender before doing anything. If you like to add a family member or someone you live within this home, this can be done easily by a quick claim deed

I was one of the first agents in my area to try out the Featured Agent program. My conversion rate was around 4%, and I was out after the heavy price increase.

I love BP and helping new Investors get started, but the 4% CR is so low because the biggest obstacle for first-time Investors is analysis paralysis and comparing a deal to once-in-a-lifetime examples posted in the forums. To be clear, a seasoned investor is not using a, please match me function on the featured agent BP program. The learning out of over 500 leads was 20% like to sell me something next 20% "I was reading about the 2% rule" if you have the deal of a lifetime, please call me and 60% are actual leads. 

Every loan has underwriting; some require more, some less. But it's all about the risk an HML is willing to take first-time investors are at higher risks, so what is it you bring to the table that the HML waives an Appraisal & contractor estimates?

@Samantha Otero, You can do renovation with a Business Credit card. They don't difference if it's you're primary residents or Investment.
Everyone I know does this to take advantage of that 0% for 12 months plus CC spend bonuses. You can make a nice free trip after you're Rehab.

Simple fact HML work with professionals the business works B2B. Why should an HML deal with the headache of financing a primary residence with all the regulations that come by law? Sure it was done before, but this is a very rare exception. Conventional lending with and good to average credit rating get you into your first home starting with 3.5% down.

Never make a verbal offer if you're serious about the deal. All my offers include the following:

-offer to purchase and contract standard form 2-t

-proof of funds, copy of bank statements, and or Pre-approval letter

-a personal letter from my Banker asking them to call and verify references

-Copy of the Earnest money check 

this should be the minimum most investors do even more the get their offer accepted. Last but not least, don't overthink or think you know what the seller things make youre best offer and move on to the next opportunity.

I talk a lot to first-time home investors; less than 4% of all BP members who contacted me in the past four years pulled the tricker. It was already mentioned Analysis paralysis and comparing their deals to once-in-a-lifetime examples posted in the forums. I hope more first-time investors see their first few deals more as a learning curve than a home run. The main goal should be a clean transaction, not to lose money, and to get new connections and experiences and do the next deal considering all the experiences of the past ones.