All Forum Posts by: Michael L.

What software are you using for pricing discounts on non-performing loans sales by the state? 

@Kevin Cespede Get a private lender or non prime lender. You are targeting the wrong lender.

For wholesaling

Any one have a fee agreement that you don't mind sharing?

Whats the arv? Do you have any more pics? What is the cost to make up payments?

Wholesale, investor special, repairs need

$150-$160k arv.

$15-$20k in repairs 

[email protected]

Please only respond to this if you fix up properties for resale.

I found a 3/2 ,1600sqft, 2 story home for $135. The ARV is $235k. It needs $18K in repairs.The property was renovated and resold then an inch on water came into the property. The insurance company took out anything that would grow mold, and replaced the sheet rock and drywall. Basically just needs downstairs flooring, paint, appliances, a power wash, and landscaping. Everything else is basically new.

No one I know in the area who are active rehabbers wants to buy, because they saw it had signs of flood damage, and it would be hard to resale property in a flood zone.

So, I found a note buyer that said if this property was sold with seller financing to the homeowner fixed up, they’d buy the note on the property after 2 months.

They’d require:

10%-15% down payment

10% interest rate

15% discount

And flood insurance

Do you think that would make this property a easier to resale, or would this be a deal you would pass on?

At three years a dog should be mature. For example, my dog just turned 4 years old 2 months ago. I talk to him like I talk to a person. I can tell him to go to bed, and he'll go to bed. Or I can tell him to go to his room as if I'm talking to a human child and he'll do it. I have a guy that has 5 Rottweilers in my neighborhood. He had one that was less than 2 years old that could cross the street by itself. It would go to the light and knew to wait for traffic to pass before crossing instead of just darting out in the middle of it. They're very smart, and learn fast.

As far as training that's more of a limitation to the owners knowledge and ambition to learn of dog behavior, unless the owner takes it to a dog trainer. And unfortunately some don't have the character to do any of that. You can tell they have problem animals instantly, or rather they as the human are really the problem.

By the way if you want to there is a company called trinity properties in my area that owns apartments. They allow 2 dogs in their properties up to 75 pounds with no breed restrictions. They advertise that the owners are responsible for any aggressive behavior from their animals.

You maybe want to try to Google trinity properties, durham, nc. Then try to get in contact with them. I'm sure they have contracts to protect themselves from the same worries you may have about having dogs in you property, since they're already doing what you want to do. Maybe you can ask for a copy of what they have, or shoot them some questions you may have.

If the problem is insurance coverage you can get a quote on dog bite coverage or dog owner liability insurance, and have the renter pay the differences to play things safe. However, I have a 70 pound pit bull and I haven't had to do any of that. The owners, management, and or their employees of the places I've lived have met my dog and have no problem with him. I haven't had to pay a large pet deposit, or additional fees. I've never been asked about him being neutered, shots, etc. The only thing I've been asked about is damages, and their has never been any from him. If someone has to be in the property when no one is home. Well your suppose to notify the owner before you go in the property any way.

As far as aggression and damages to your property; that has more to do with the leadership it gets from the dog's owner.

For example, one thing some people are too lazy to do is walk their dogs for the proper amount of time. So they misbehave because they have pent up energy they're not getting out. If you mention that to a ignorant owner they'll say they don't want to to be walking them, or a bunch of other excuses to cover up their laziness.

I've been in several properties with carpet every where except the kitchen and bathrooms. My dog hasn't caused any damages at all. When he has to use the bathroom, he goes to get his leash or sits in front of a door to go outside. Even though he's labeled as an aggressive breed; he's not aggressive at all. Only aggressively playful. He barks as much as Peyton Manning throws interceptions; very rarely.

Do any note buyers here purchase partials at closing?