All Forum Posts by: Kris Haskins

wow, too much to type for a same day meeting. U sound like one of my coaching clients. She calls me the day of closing and says "kris, im closing on my 1st house today, what do I need to know" anyway. Just having fun.... I recommend just going to see her and collecting info from her about why shes selling and what major repairs are needed ie. Roof, siding, windows, hvac, electrical, plumbing issues. It may be challenging to learn all u need to know in a few hours. Once u know her reason why, major repairs and her time frame, u can then meet with a more experienced person and give them that info. We like dealing w newbies that hv some info about the situation. Get out there you're gonna b great....

good q antonio... ur talking about apples and oranges here. Typically private money is borrowed from an ordinary person that has capital getting a low rate of return. Ur going to use their capital and get itworking in a flip or a hold property. You'll pay them a % on the funds usually an apr(annual percentage rate

transactional lending is typically used for a very short time frame, maybe 1 day. This is when money is borrowed to close a deal quickly (a-b) then there is another closing that usually takes pplace the same day for a higher price where uwill sell the same deal (b-c). the c buyers money pays off the b buyers funds(transactional funds) and the b buyer gets his check for the difference. T funding usually has a flat fee for the deal. I charge $200-$250 per $10,000 or simply a flat agreed price for the day. There are tricky issues w both so get knowledgeable b4 u do either... t funding is my fav and gets me paid the fastest w no risk. I love it because I never even see the houses I lend on. Sounds crazy but true... Good luck

have u been successful in changing the zoning from sf to multi?

I never had success w mobile homes but we had great guy in our area who owned several parks and wrote 2 great books "deals on wheels" by lonnie scruggs. Google him to get it. Good luck

I have seen a lot of people use those flat fee companies. all of whom were disappointed. however did you approach a local broker and offer them the flat fee to simply list your house? U can do all the work and they can put in the mls for u, thats what we do...

I am NOT a CPA but I have done several lease options. From what I thought you only have to pay taxes on the option consideration once you sell the property hence a taxable event. . May be a cpa question.... good q..

this is a great forum. we typically shy away from doing doubles closings as costly. as long as you have equitable interest in a piece of real estate via purchase and sales agreement or an option to buy.... you can always sell your interest in that contract to a third party... good luck and don't be marketing properties you don't have tied up.

u hv a good deal, finacing is the easy part.... may not seem like it now, I assure u... money follows deals not the other way around.. my 1st recommendation is to find a friend or qualifying family member that has some ira/401k money getting a low rate of return. u can then use that money for ur down payment as long as the 1st lender doesn't mind YOU not personally bringing the funds. Ira money has been a life saver for us.... hang around the equity trust co. site for some good people too...

good luck...

did u verify the arv the agent gave u? in my experience some agents are a bit off the arv when they aren't putting up the $ to buy...

im sorry what is a shariff sale?