All Forum Posts by: Graham McBain

@Manuel Angeles I haven't yet no, thank you for the input on it being at least a year. 

I'm interested in a property in Granite Bay, It's not quite priced at Flip price but enough for me as an owner occupant. We're able to get a conventional loan but not for a month or two, so we're hoping to find someone to help us get into the loan and then refinance in a month or two. 

Is it feasible to buy the property w/ Hard-Private Money and then refinance with a conventional Loan? Does it need to be arms length?

@Chad Benedict Thank you for the great reply!

You're absolutely right that we need a real RE contract to sell. I guess I should clarify that the seller is willing to sign all the long contracts but he just wants something that outlines the deal in plain english that her can understand. 

In regards to being transparent, I've decided to make it a point in my deals to tell sellers exactly what I am doing, this one included. I'm glad you mentioned it because it's SO important and broaching the subject properly actually helps you gain trust rather than lose it. 

Developers are exactly the target for this property, I've put it in front of one that I know well and they don't like this area as much as I do. The other developers I know I don't have as good a relationship with and something this messy seems like a bad first impression.

Thanks for the reply again!

Just sent you a DM Tyler! 

I've got a seller with some land in Elyria near the Western Stockshow complex that he wants to unload. There are four total parcels, three contiguous totaling 14k sqft & zoned ETU-B, and another adjacent lot 5k sqft also ETU-B all for under $700k. 

The seller is an older gentleman who wants a very simple contract "even he can understand". I want to make sure to get it locked in but I also don't want to scare him off with a bunch of complicated mucky muck. 

What is the best way to tie this up for wholesaling purposes without putting too much paperwork in front of him? 

Any thoughts are appreciated.

I would be concerned if it's legal to house a bunch of people in a SFR. Check the zoning of any property you purchase. The other concern is the potential for turnover, seasonal workers etc..

If you can figure it out it's quite the niche! 

There is a property in my area where the owner passed away 4+ years ago but her name is still on the assessors website. The family still lives on the property but according to the assessor none of them are on the title.

How do I find out the story on this place, specifically if it's in probate &OR where I should send me offer/marketing.

There is a drainage project going on in my neighborhood and many homes will be taken under eminent domain. What are some strategies my neighbors can use if their properties do get taken by the city. Can I help them make a comp book to give to the city to make their case? 

For me personally, are there any moral strategies that one can employ to use something like this to my advantage? 

The project is a green space/water reclamation area that may have a walking path and park.

Thanks @Scott Trench & @Bill S.! I have the same reservations about the area. It seems like it's going to be more apartments and commercially focused like you said. The main concern I have is the uncertainty around the 70 and not knowing what that is going to look like when done.

While living in Arizona and working as a real estate agent, a deal came up to source buy and hold properties for a National REIT. In one month I sourced and closed 22 deals on SFR's totalling over $1.7million total.

The next month they changed their buying criteria that tightened up the margins they were looking for but I still managed to find a few deals before starting to work for a vertically integrated fix-n-flip company out of California.