All Forum Posts by: Joseph Hamer

@Austin L Archer if you have a BP pro membership, they just added invelo. INVELO has a pretty advanced list creator. PropStream works as well. The key to this is creating a list of people with pain points. For example, elderly owners of two story house or young families with one bedroom house or non owner occupy and vacant.

@Alexus Bell general rule of thumb is 8% for maintenance, 8% for vacancy, and 8% for CapEx. Of course this depends on your home and area. Also, where are you getting a 5.75% fixed rate on a 30 year mortgage? Are you house hacking?

@Louis Zameryka based on the most recent On The Market podcast by Bigger Pockets, a credit union will probably call the loan due if switching hands. Be sure to have a back-up plan.

We are having TWO Pints and Properties networking events for real estate investors to kick off 2023. January 3rd at River City Brewery from 6-8pm and then January 12th at Central Standard Brewing from 7-9. Take action. Come out and network!!

A networking event for Wichita real estate investors, agents, contractors, and all others involved in making real estate a success

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A Wichita real estate investor networking event.

@Vincent E Smithburger JR

County records will have address for LLC. If that isn't fruitful, you could skip trace using Propstream or another source to locate a phone number.

@Lorraine Martin

What is your goal with foreclosure? Are you wanting to buy a property after it has been foreclosed on or reaching the home owner prior to that time? Properties which have already been foreclosed on are public record and can many times bought at a discount. However, with such a supply demand, many foreclosure homes are selling for market value. Of course this depends on it's condition etc. If you're able to reach the homeowner before the house is foreclosed on, you may be able to find a win-win situation in which their credit is not damaged and they walk away with a little while you get a much better deal on the property. This way requires more work and finesse, but could pay off financially.

@Sarah Hood

First of all, you've got this! In a few years you'll be telling this story and giggling. Second of all, reach out to a mortgage broker and tell them you need a hard money bridge loan for 70k. Have your numbers prepared so they feel confident. (For example, your BP Calculator report and comps)

@Lawrence Briggs Congratulations! Keep up the good work. What was your lesson learned on this one?