All Forum Posts by: David P.

Please PM or email me with details.

Good morning Jim, 

I did receive the proposal however several items are missing from the document such as ALL of the Appendix A.  Additionally, the "Bid Deadline" date indicates March 9, 2014 on page 6 - is this re-use of previous documents? (these should be updated accordingly)  

I would appreciate a complete review of this document as it doesn't appear to be entirely complete and accurate.  

Additionally, please submit all inspection reports for the the property, floor plans etc.  We require that any harmful materials be outline in the reports as well prior to a bid being submitted.

Jim, please PM me with the information

Stephen, what type of partnership are you looking to do on this project?  Please PM or email me with details.

Hi @Tyran Luzzi I have met people from all round the world on BP.  More importantly the site is free and you can learn a lot about investing in real estate here on BP.  So now the question would this site be beneficial for you - only you can answer this, but in my opinion BP has helped me network with other individuals, ask questions and even answer a few to help other folks along.  The phrase "Everyone has to start somewhere" is so true - you have to crawl before you can walk and even run!  Use BP as a tool - ask questions about properties, land-lording etc - these questions are universal.  

The process is simple - Take what you want, use what you need and give back when you can!  Network with others to help you become a better investor!

Good luck and hope to see you around on BP!

Hi @Teal Nipp do you have the property under contract?  Can you please PM or email me with the details of this opportunity?

@Jesse O. I would be interested in same information.  We are starting to invest in Jax area and will most likely need to consolidate by end of year.  Local banks and credit unions who underwrite in house or private lenders will typically do these type of loans, but they are fewer who will do this and just takes time to find the right one.

@Jeff Trevarthen Jesse probably reached loan limits and by placing in portfolio it reduces total outstanding loans - and best of all consolidates to reduce # of payments.  Traditional lenders like to keep a 1 to 1 relationship as well whereas fewer will consolidate properties into single loan as it becomes more complicated especially if one of them stops performing.

Thank you for your time Monica. As discussed, this is not the property for me as your ARVs are out of line and yes it maybe a difference in opinion for sure but you need to base your price on what has sold - not what is listed.  Another good lesson you will need to learn is to listen to potential buyers - not to keep interrupting them.  I encourage you to find a local mentor to help you through this process - learn from them and you will have a  much greater success.  

I wish you the best in your wholesaling career! 

Unfortunately @Becky Nichols  insurance companies do what they want - they are in business to make money.  That said, when you sell the buyers will have their inspection and it will be up to them if the roof is in good shape.  I would not worry too much about State Farm and them saying it needs to be replaced unless it is now leaking - in which case you will need to cover the damage yourself.  Also, once you sell, you will get most if not all of your premium back because technically the house wasn't covered by them - or only a short while.  @Steve Babiak is right on, you need to find an insurance company that works with investors!

So if the roof doesn't pass inspection for the buyers - offer them discount to take as is - to include all findings. This usually works and best of all - they cannot keep nit-picking every little thing.  

Relax all will be good in the end - and best of all you will get another project soon enough!

Call me if you would like to talk further about it.

Hi @Monica Felan  please send me information on this property as well?  Also, please add me to your buyers list; I will PM you with my information.