All Forum Posts by: Lee Lockhart

Hi, great situation to be in. Put together a business plan illustrating their return on investment, then reach out to everyone in your network. Include the risks and dangers in the plan too.. Reach out to everyone, even those that you know in passing or barely see. If they can't, ask them to refer you to someone that is retired, a business owner, or anyone that may be interested in growing their money. Some will only want cash back plus interest, others will want to partner.

Hi Biggerpockets, “What remedies to expect/use on wholesalers that keep the ‘good faith escrow’ and don’t return it?” “What are some of the punishments dealt to the wholesaler  e.g. were they imprisoned or fined, forced to pay all plaintiff attorney’s costs, enjoined/lost ability to enter into mortgages, sell real estate, or dealing in finance deals?” We have a signed contract that the wholesaler don't want to move forward with because he discovered he can't double close and have to pay closing costs on two transactions, which eats into his profit. He has stopped contact. Thanks for your answers. Lee

look on YouTube. Most tile stores and big Box stores like Home Depot, Menards, and Lowe's have classes. However, most of all, you have to do it to learn...

There are banks that will do a cash-out refinance your investment property. Most of these are commercial banks. Also, make sure you are asking for the right product at your local bank. Asking for a heloc on an investment property will confuse some that's not familiar with real estate investing.

Thank you all, for your response.

Hi, My Tenant informed me his girlfriend and her child is moving in. He is halfway through his lease. I'm going to collect their information and add to the lease. Currently, he is paying a discounted price for rent based on him alone. Can I increase the rent since its 2 extra people in my property? Its a two bedroom two bathroom apartment... What other issues should I take into account? Thanks. L.

lendingone.com as well

Yes, only thing you need to come up with is a property for sale with tenants in place, or a property that need extremely little rehab and signed leases. You will also need the down payment. www.rentalhomefinancing.com

No. Its a bad idea. Check to see if a zoning change is possible...

Thanks @Jack V. Ospina