All Forum Posts by: Matt B.

Those of you offering financing, how are you getting your capital back out?

Anyone offering financing and selling the note?

@Account Closed

Trying to get out of the rental business. Still have about 30 rental units. Had 120 a few years back. Also, do not want to give a freshly "retail" rehabbed property to a tenant.

@Abby Shemesh

Thanks for the incite. Just to clarify, we are not looking to originate a fix/flip type note to an investor. We are looking to sell our completed rehab projects end buyers that will occupy the property.

We do plan on having them underwritten and serviced.

We are considering offering seller financing on some of our rehabs, as the market cools. How could we structure a note that is attractive to sell quickly and for the least amount of discount and little seasoning? What kind of terms, rates, down payment, underwriting, servicing, etc.? Thanks.

Interested in hearing what others are using for disposition/exit strategies on their flips as the market cools? Are you still looking for retail buyers, holding to rent, offering seller financing, other? We are considering offering seller financing, then selling the notes.

Our buyer pool in our market has already started to shrink and we would like to keep properties moving. Would prefer not to hold and rent, especially on freshly rehabbed properties. Thanks.

We are in a rural, Midwest market where a $300,000 home is expensive. The homes we typically do, sell for $130k-$250k. They seem to be our bread and butter, where we can do a quality rehab and still make a profit.

We would like to increase our volume and we are trying to figure out a way to make something, with the older 2-3 bedroom bungalows, we have around the area. Does anyone do anything with these homes and how do you manage to make a profit, with the margins being so thin? Most usually need some sort of serious rehab and you can quickly put $40-50k in one. The less you pay for one the more you have to put into it. Just seeing if anyone has managed to flip these homes, on a regular basis and still make a profit?

@Doug Lovett

I ran ads for awhile on Facebook, but decided it wasn't for us. We target mid to upper end homes and happened to be getting too many calls from lower end sellers. Facebook is sort of like bandit signs, you get alot of calls, but it's very general. If your goal is to buy any sort of house available, Facebook is fairly inexpensive and might be good for you.

We just do direct mail now. Cost is more expensive, but we can target the areas and types of houses we prefer to buy.

We use a Lead Propeller website and like it. If you look at most of the real estate websites in your market, chances are it's a Carrot site. We went with Lead Propeller, so it didn't look like everyone else's.

You would probably be fine, if you go with either one. You could be up and running in a couple hours, without having to reinvent the wheel. All of the work is done for you.

@Jake K. I got it recently. I'd say for the $700, you get plenty of info, especially if you're not Facebook ad savvy, which isn't my strong suit. I just got it for the Facebook marketing. There is some other info on cold calling and direct mail, which I didn't bother looking at.

Also, I'm not against paying for some quality information. I'm sure someone else will say, you could find all that info for free, which you probably could, if you spent enough time looking for it. For me I'd rather pay someone a couple hundred or thousand to do the legwork, and give me the info I'm looking for in a nice, neat package.

Ymmv.

@David Robertson

For what it's worth I've been playing around with your beta version of Flipper Force and would like to say; it has the potential to be a game changer for the flipping business. We've tried most of the systems you've mentioned, as well as the ones that more directly compare to Flipper Force, that are industry specific.

In my opinion, Flipper Force has more to offer, with less of the things you don't need. The thing that would put it over the top, is when it gets a fully editable and printable scope of work builder, along with the ability to edit some of the other forms. I know it's in the works, but we would be ready to subscribe and pay once that is finished, provided we don't come across something else that meets our needs in the meantime.

A thought for the future would be crm capabilities, to be able to match contacts with properties. Other than that can't wait for the finished product.