All Forum Posts by: Michael Williams

 Got it?

 Thanks, that was a good explanation. I am always trying to get a full understanding.   

Are all of these properties on the same street? Sounds like they are in a war zone that is being avoided by investors. 

 Hi Corby I have a question; is it normal or even possible for a private money lender to do a deal like this? I was just interested from a learning standpoint. 

Been on and off for 3 years, I have another business as well. I have participated in two rehabs with a mentor, I've had 5 under contract, they all fell through because of bad info on the sellers part or something in the deed that clouded the title. Got three birddog deals under my belt and just started back in real estate after setting up my custom t-shirt and graphic business.  Had to take that time away because I have an investor in that business. 
I understand the process and I have a private investor that was a short time mentor just turned Private money lender. He is not going to fund the deal if he feels it is TOO risky. I got to know the owner and he is a contractor with connections in the county and will help by doing the rehab or helping to navigate the red-tape for permits. So the stars are really lining up for this one. 

But I have learned from aggressive investors to be a risk taker to make the big money. If I am going to do a first one why not one with a lot of potential. Plus I am a strong believer in attraction and the vibe is strong on this one.

All flips can be difficult no matter how big or small, it's all about how you handle the problem. I'm of the mindset that there is a solution for almost any problem that can come up. But as I said before......the owner is a seasoned contractor with connection in the county offices who happen to be his wife. That's why I think he would be the best choice for the rehab. Plus he stays in the neighborhood too. It gets gooder and gooder.    

I have a deal that is a Free and Clear house in a great school district in a suburb of Atlanta. The owner is a general contractor and builder. He has numerous houses and land so he is not hurting for money. He is not what we consider a motivated seller but he does want to sell. But here is the twist. He bought the house for his sister that never moved into it. The schools are ranked 9-7-7 and is only 6 years old and out of 10 houses on this short street his house and one other are the only ones that have not been totally renovated. The other eight range from $380k -$600k. He wants $180k for this house. He said that I can build 25 ft to one side and up to bring the house to a the Now normal standard of the other houses on the street. His house has 1 acre of land with it and is hidden off a main highway. I have a private investor that I am pretty sure will fund me for the deal.  The owner says if he does the construction it would be another $200k for an all in of $380k Plus whatever arrangement I make with my Private money guy. My private money guy has a renovation team that he can provide as well but the owner has connections in the county so any permits will not be a problem.  
I think I can get the renovations I want done cheaper if I go with my Private money guys people but the owners connections in the county could make it a lot easier with less hassle. So is it worth paying more to relieve red tape? I would gladly appreciate your thoughts. How would you guys approach this?  

Yes, but I may be mixing your role with a loan with the role of a mortgage inspection company. Good Luck.

Hey Kristopher and fellow internet marketer. Welcome to BP. I am also in the internet marketing space as well. I am also seeking to be the money guy that is buying the deals. My mentor is showing me how I can can achieve that goal much faster by building virtual millions first and buying real estate faster. I think you already know that method. I will be checking out your website and let's talk sometime. Welcome again. 

Hi Tony welcome to BP. Someone has already said it but this is one of the best sources for real estate investors. Your job is one of the best industries to grow your real estate business, if you don't know that already know that. Welcome aboard.

 Hey Mark, we discovered that he creek behind this property created a flood table situation where a builder would only be able to fully rehad this property. This would put it in the same category as this house the 2207 Drew Valley house. Your comment made me preform the necessary due diligence I should have done in the first place. We will try to renegotiate a much lower price for the property. Thanks for the insight......another learning lesson on my way to Real Estate domination. I love it.