All Forum Posts by: Lance Clifford

Sooo who has applied for any of the new grants/loans that are available to real estate professionals? What did you apply for? Starting to get lots of spam emails on options so I'm curious what others have done.

Example:

Learn about how the CARES Act can help Real Estate Agents

In our ongoing efforts to support Real Estate Agents during this challenging time, we thought it would be helpful to share some information about the recently passed CARES Act and how it may benefit you.

How much Commission did you make in the months of Feb, Mar, Apr, May and June last year? You may be eligible to receive 250% of that income via the CARES Act.

What is the CARES Act?

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

If you work in the Gig Economy, are a 1099 worker, a 1 person business, independent contractor, work for hire, self-employed, you are eligible for a payroll protection loan, along with any business with less than 500 employees.

This is huge relief for many real estate agents that are often left out of government assistance programs.

0 Votes

Yeah I know I can get them on the MLS, but short of me getting my license (will probably do so) are there any tricks to getting sales data in UT? With the sheer number of comps I run on a daily basis, asking a realtor to do them for me simply isn't realistic. Any advise is appreciated.

Lance

0 Votes

I think I can make this. I'm in.

0 Votes

Have the buyer dump that lender. Find yourself a preferred lender that can make your deals happen. Email me and I'll send you an example of an addendum we use on all of our listings.

Lance

0 Votes

Jason, I bought it off the MLS. It was an estate sale. Can't tell you how many neighbors have come by to thank us for fixing up the neighborhood eye sore. LOL

And yes, I wanted to keep it, but the wife says she ain't moving!

0 Votes

Purchase price was $456,000 and ARV is $965,000. I'll get you guys some more details soon.

1 Vote

Hi guys,

I'm not to big on sharing all of my flips, mostly because I don't have the time to write about them. But my wife talked me into sharing this one because it's quite the project. Let me know what you think!

Lance

My article:
http://doublooninvestmentgroup.com/project-jeep-just-empty-every-pocket-update/

Here is a before shot

1 Vote

Some might say I "over rehab" and perhaps I do. However I'm anal, and I just like to go that extra mile. Apparently my buyers like it too, as I typically get in contract on my flips in a day or two, typically with multiple offers. My problem is of course I'm priced above the comps. Short of wining and dining the appraiser, anyone have any good tips to get the appraisal pushed past what's out there? Let's say 15% above comps for conversation's sake.

0 Votes

I recently sold a property here in Northern CA that I purchased on the courthouse steps for 321k. Sold it 3 months later for 427k (2k over listing price) to an FHA buyer. There was no 2nd appraisal, and no questions from the lender about the amount of rehab. Currently in escrow on another property with a VA loan buyer, hope it goes as smoothly.

0 Votes

All Forum Posts by: Lance Clifford

Lance Clifford has started 7 posts and replied 19 times.

Post: Coronavirus Grants/Loans available to Real Estate Professionals

Post: Coronavirus Grants/Loans available to Real Estate Professionals

Post: Moving from CA to UT - Utah is a non-disclosure state, how are you getting comps?

Post: Sacramento Meet Up

Post: Buyers Bank Demanding my HUD1

Post: My extreme flip...

Post: My extreme flip...

Post: My extreme flip...

Post: Plenty of buyers, but no comps

Post: Navigating the FHA 90 day rule when flipping