All Forum Posts by: Mallikarjun Reddy Pateel

so even if there is a Equity left after Second Lien with a Private Money does that Incentivize them to Lend?

What is Your #1 Strategy for finding Wholesale Deals?

@Kaylee Walterbach

Specially for New agent don’t think you don’t have experience and No one wants to work with you.

everyone has to start Somewhere.

This Business is all about Mindset. build that Mindset and Know your Market. these days it’s Easy to get Leads but Most agents fail to Follow up, hence they Loose Opportunities.

@Will Barnard

I like your advice, I’m planning to start in Wholesaling. How do i get the Rehab costs? Do i take contractor with me while touring?

@Jay Hinrichs

@Derek Dombeck mentioned, there needs to be Value left in order to get 100% Loan

@Derek Dombeck

Make sense.

@Derek Dombeck

thanks, you mean it’s not Possible to have multiple liens equaling 100% of Property Value, there needs to be some Equity or value left after Second lien for PML.

in other words Let’s take an example

$100k Subject to Property. $80k Mortgage Lien if I have to Obtain a Private Money to cover rest $20k. Lenders will likely to lend $10k being there is $10k equity left but not the $20k?

Let’s say If i have to Put 20-50% down on a Subject to Deal do PML will lend?

I’m thinking not because there is a Already a Primary Lien( Mortgage).

can one Property have Multiple Liens? like if the property is Worth $100k and there is already a Mortgage for $80k, and If I’m doing Subject to and Seller asks me to put 20%, do PML will lend me $20k as Down pay?

Looking for advice on this Topic

@Ambika Devacaanthan

I highly recommend Keller williams for their Coaching & mentoring for Newbies. it doesn’t matter if you’re full/part time you can access their Teachings. Spilt would be 70/30

@Keeley Hubbard

Congrats, if the rents are lower than market value in a Rent stabilized building how can you raise the Rents?

Asking because i find this deal rents are almost 50% lower than the market value. It’s a rent stabilized building in Brooklyn.