All Forum Posts by: Account Closed

What are the numbers? Some info about the deal would help. What is the property's ARV, repair cost, the amount you are buying it for etc.? And what are some of the specific terms and requirements of the HML? 100% here could just be a marketers way of saying no out of pocket expense. 100% LTV by a HML is rare but a product an investor could certainly use.

Any contractors able to provide a repair estimate for a SFR from an inspection report? Send a private message.

Thank you!

I certainly wouldn't discourage looking around to find where you can get the best value for your money. I happen to be on the wholesale/rehab side of things, so with 40K to 50K free cash flow, there are a ton of avenues to deploy the funds.

Word of caution though.. have you dealt with renters previously in some capacity and/or have you considered the challenges of dealing with possible renter and building issues from a different state? 

If you live in California and absolutely have to go the rental route, might make sense to look at other areas within California before looking out or perhaps you did?

Flipping is somewhat different from rentals and where outside of California would be good is really tied to your personal goals and objectives, your risk tolerance, and of course cash reserves. 

Within California though, these might be some good areas to look into, if cost of course wasn't a factor: San Jose, Ventura, Fremont, San Francisco, Los Angeles, Bakersfield, Fresno, Sacramento.

The short answer is no, there isn't. If you find anyone offering such a product today, liquid funds that pays anything meaningful, that can be withdrawn at the drop of a dime, and with no penalties and no minimum balance, be sure they have FDIC insurance on the funds and be sure it is actually a legitimate financial institution.

To earn a better rate of return of funds, you have to literally take charge of the investment and assume some sort of risk.

Are there any search engines, skip tracing tools, websites etc. out there, hopefully free, for use in getting the valid contact information (phones, email etc.) of vacant property owners? Anyone have access to a service of some sort with a very high level of accuracy in regards to the recency and quality of the information?

How are you doing? Good to hear! Where can you find a formal inventory or listing of properties in Nicaragua? The prices seem reasonable compared to some areas and apparently they have good coffee beans.

The issue (from what I am hearing) though is that often, determining who actually has clear title could be a problem, and that is an issue in most of these areas. Subsequently having to divert resources to stage a title defense in a foreign territory could be quite a headache. 

Government confiscation of property appears to also be (or was) an issue -- not sure if this is still going on or how recent but there are quite a few horror stories regarding property confiscation in Nicaragua.

Do you know about this?

That is usually true Brian. Just trying to give him a chance though, as it just might be that it is the way that he knows to negotiate. Of course you could find extremely motivated sellers who either require negotiating a short sale of some sort or just with insufficient profit in the property.

Good question. He is somewhat quite elderly but surprisingly firm and active; is an 'out of towner' and did mention his previous tenant where a pain so the property has been vacant multiple years for this reason (at least that's what he tells me).  He told me that he travels to and from the property just to mow the lawn as a form of exercise and apparently wants to dictate the terms of the negotiation.

I seem to have a seller here that is either unmotivated or just bluffing. The property is a fixer and does require a ton a work. In our initial conversation he passionately wanted to sell and said to make him an offer and that he had turned down a previous offer for $35K from an interested rehabber.

Reviewing actual sales comp, $165K ARV very probable. I made him a conditional offer of $40K cash and he refused; says its too low and that he is going to go to his previous offer (which he apparently forgot he told me was $35K). It appears he keeps turning down any offer but when asked what price he wants to sell for, he never mentions a price. Have any of you encountered any such sellers? Shouldn't a legitimate seller, tell you at what price he wants to sell a property?

Usually I would move on but the property might make a good rehab project; it is however very risky in that the property has been vacant for a very long time and actual repair estimates if in excess of the current estimate, might cause some problems.

These are some of the numbers:

ARV = $165K (but, Zillow =190K, homesnap=189K, homes.com=$145K, realtor.com=270K, eppraisal=$312, average=$221K)

Repairs = $52K (based on sellers contractor, unverified. Offer was based on receiving verifiable repair estimate)

If using the 70% rule, $50K (or mid $50K) might be justifiable but not without concrete repair estimate. Shouldn't a motivated seller at the very least mention his selling price? 

Feels like some sort of 'hard to get' game with a damsel. He is somewhat elderly so not sure if this is normal negotiation in some circles?

I recently had a conversation with a colleague about some possible locations ideal for acquiring and holding (or building) offshore vacation and residential properties. These locations were sort of central to that discussion. Anyone here with direct knowledge or experience living in any of these areas or know of someone that does? Or aware of any stories (from a real estate investment standpoint), good or bad, of any of these areas?

Europe:
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* Bucharest, Romania
* Lisbon, Portugal
* Nicosia, Cyprus
* Abruzzo, Italy

Asia:
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* Ho Chi Minh, Vietnam
* Hong Kong
* Bangkok, Thailand
* Shanghai, China

South America:
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* Basseterre , Nevis
* Belize City, Belize
* GeorgeTown, Cayman Islands
* Santa Cruz, Bolivia
* Managua, Nicaragua
* Panama City, Panama