All Forum Posts by: Nathan Platter

@Julian Rodriguez ,

I'm all for keeping appreciating properties, especially when they pay you to hang onto them, but you can put your money to better use (higher ROE) if you were to invest into other properties.

Consider investing out of state, or if possible, in a syndication of some kind. You have experience flipping properties, perhaps you should do a refi and flip another deal to expand your holdings + cashflow + equity upside.

Hey @Andrew Winter ,

Great before and afters! Would you be willing to share some of the numbers with the readers so they can get an idea of how the deal went?

Visually, looks great!

Hey @Anthony S Boxill Jr ,

The ratios of your deal look fine. However, the loan amount is below $50k and many lenders only underwrite loans that are above $50k. The deal may be great, but if there's not much profit for them to originate the loan then they may pass.

Otherwise the deal looks line. Small, but fine.

Hey @Antoinette M. ,

Since you're a Plus/Pro member, try using the  Network feature. You can even filter by interests (flipping, wholesaling, Mobile Home,...)

Hey @Ameera Devid ,

Any luck with mailers? Craigslist often has places for rent.

Hey @Antoinette M. ,

From limited personal experience, it usually takes 100 mailers to get 2-3 contacts, and roughly 10 contacts to get one deal under contract.

You're likely not contacting your leads frequently enough, or contacting the most likely leads.

Hey @Louis Jordan ,

Welcome to the forums!

Depending on your goals (investing and professional) you may not need a RE license. Depending on if you want to be a realtor and conduct the transaction-portion of the deals, or rather specialize in other parts of the business, be sure to be specific in where you want to be great and talk to those people doing that line of work.

I personally had my license and let it lapse since I instead would rather pay an agent to handle the transaction on my behalf while I look for investors and individuals wanting to partner with me on deals.

Hey @Julian Rodriguez ,

It all depends on your personal investing goals.

For 80% of the members here on BP, I would recommend yes, sell the property and roll those profits into your next deal.

Your equity ($510,000) is currently sitting idle and not doing anything. Of the many ways to evaluate an investment, a major one is Return on Equity (ROE) Assuming you're net profiting $500/month (guess) that's $6000 a year. 6/510 = 1.17% Return (on equity) That's bad.

Sell the property so you get all the profits back and put them into more flip deals. It's work but it'll generate better ROE than holding that rental.

Hey @Rafik Moore ,

You're spot on, a large majority of BP content revolves around the wholesaling, flipping, or landlording 1-4 unit properties. Even the  Marketplace is an untapped area for promoting Commercial properties.

Investors on here are hungry for knowledge, so anything you can provide will surely be followed and consumed by a large audience.

Hi @Lavette Pittman ,

If memory serves correct, Sprout is an intermediary that connects you to the actual financial institutions that provide the funds, and they get a commission on you attaining those LOC. Not good or bad, but I did the same thing through Kabbage. Those companies often advertise larger amounts of LOC available but are more often limited to newer borrowers.

Also, they don't get as excited about REI loans, as they are more typically looking to help the Small Business Owner get off the ground (e.g. a Donut Shop, or Lavette's Account,...) at least that's what their rep told me.

As for that as for that being a REI strategy, it's viable as long as your numbers are solid and you can profitably repay the loans. 

I'm interested to hear how your experience with them goes!