All Forum Posts by: Mark Munson

Hi @Devin De Lange

       I'm in the real estate financing space and in a few Creative Investing communities. As others have mentioned, I would look into creative financing like seller financing, subject to, seller carrybacks, etc. You can utilize seller carrybacks with hard money financing as well, if you know what you are doing. Feel free to reach to out if you need any advice.  

Hi @Heidi Thompson

      We are vendors with PadSplit and in Orlando, so happy to help if I can. @Blake Lewis can help you out and give you some options. I know many successful investors that utilize it and some have higher-end properties in areas like Maitland. I'd suggest attending any local PadSplit events if you can. Feel free to reach out if you need any advice.  

Hi @Stephen Wasko

      Welcome to BP! I'm in Central FL myself, are you in Tampa? If so, I'd suggest joining the local Real Estate Investors Association there; I am a member myself. Feel free to connect if you need any advice, best of luck!

Hi @Andrew Singh

If you are using an LLC, I assume you would be using hard money (short-term loans) and/or DSCR loans for long-term holds? If so, the property will be vested in the LLC with either one or both of you as guarantors. Whether it is one or both as guarantors depends on the lender. Some allow a member that holds at least 25% of the entity to be a guarantor and they will be the only one with their credit pulled, while other want majority ownership to guarantee the loan, so in that case it would be both of you. Feel free to reach out if you need advice and best of luck!

Hi @Justin Brown

      I'm very familiar with the Charlotte market (my family lives there and I travel there frequently) and I can recommend a few resources to you. I'm also a member of the NCREIA, I'd encourage you to join that group, their monthly Charlotte chapter meeting is tonight. You can also utilize a platform like Investor Lift as well, it is an interactive map and you can see off-market inventory, but more importantly the contact information of people selling deals in your market. You need to create a relationship with them and dial in your buy box; otherwise just getting on an email blast list only yields you what was already passed over by the VIP buyers. I'm in the lending and off-market acquisition space, so if you want to connect, feel free to reach out. 

Hi @Patrick Eagan

       Welcome to the community! Feel free to connect if you have any questions on rentals or anything else. Best of luck!

Hi @Kevin Hudson

I would check out the Madison County Real Estate Investors Association. Your local REIA is always the best place to start, in my opinion. Feel free to reach out if you need any advice.

Hi @Sia Rawat

     I've had the opportunity to speak to brokerages about the processing of cultivating investor clients and to stop prospecting, so this is a topic I know well. You need to join your local Real Estate Investor Association and attend any other meetups you can find. In addition, to be great at being the "Investor Friendly Agent", you need to know investing yourself. Your ability to be a resource hub of GCs, title companies, insurance agents, disposition strategies, etc. makes you invaluable. For example, if you know how to properly divide a property for a rent by the room model, like PadSplit or other platforms, that gives you the ability to see what a property can generate beyond the average agent or investor that isn't familiar with that strategy. Your self-development in the space is what will allow you to be the go-to for investors. Lastly, understand the lifetime value of an investor. Do not be transactional thinking you need to make a high commission on every deal, understand that the real money is in the long term relationship. Feel free to reach out if you need any advice. 

Hi @Steve Riebman

      I would suggest a light rehab (flip) on an inexpensive home to the average in the market. Wholesaling can be costly, if you want to do it right, as the marketing costs can be expensive. You can drive for deals/dorr knock which is less costly, but takes a lot of time and some people aren't comfortable with that. It all depends on your starting capital and time you can allot to investing. Feel free to reach out if you need any advice. 

I should clarify that "There is nothing wrong with these loans and you never need experience to qualify, beyond owning your own primary or having another mortgage on your credit for at least 12 months in the last 2 years." applies to DSCR loans, not short term loans.