All Forum Posts by: Michael C Gregory

Have her seller finance it to you. Then she will only receive partial payments monthly, so that she won't be taxed on the whole amount.

I need 80% LTV Lender.

In other words, if I buy the property at 70% LTV and it needs 10% rehab, I will borrow 100% of what I need (80% LTV).

Mike

Darren - I had a moment of frustration. I shouldn't have vented on BP - sorry.

Christopher. I have no cash or experience per se; however, I have done my homework, put together a GREAT team, and I am working hard. I have made offers.

Robert - Thank you. Is he on BP? Did you ever sell that house I looked at?

Mike

Thanks folks.

Mike

Charlie - I would sell it within 45 days.

Christopher - where do I find the 80% lenders? I'm at $215,000. (ARV) X (.8) = $172,000 minus $6,000 (paint and carpet) = $166,000. I just offered $163,888.

I need $169,888! 

Mike

Thanks Christopher. How high can I go percentage wise for wholesale deals?

Mike

Help! My lenders are killing me. We are no longer in the .65(ARV) minus repairs = offer market. Wake up lenders! Deals are harder to find, and in order to be competitive (and maybe get a contract), you need to offer 75 to 80% of ARV (properties are selling for 10-20% more than the ARV). I have lost FOUR deals because my lender will only approve a laughable amount to offer. How do I find a lender who will consider ALL of the aspects?

Thanks.

Michael C. Gregory

Remedy Investments, LLC

I have a typed out letter. It has Dear at the top and the address of the house about a third down the way. I change the name and address for each one and print. A LOT of work!

Mike 

Chris:

Are these votes like the sports show where they have like one minute to give their opinions, and they get points along the way? (Can't remember the name)

Mike