All Forum Posts by: Nick Thurston

Driving for dollars and direct mail marketing to a very select and defined criteria of homeowner. Or so I’ve heard.

Thought it would be fun to start an unofficial BP meet up for investors in the Walnut Creek area where we can just have some beers and kick back. Nothing formal, just making new friends and hanging out.

Any takers?

I'd love to get in on this. I live in Walnut Creek and have also been looking for meet ups that don't seem like pitching events. Let's start one of our own.

Thought of one more. If you do upgrades while in possession of the house and then default, they get free upgrades / added value for when they take it back and sell it.

I'm wondering the same thing because I want to ask for it. I have no experience but from my understanding, these would be my guesses: 1) No longer responsible for the maintenance or management of the property 2) no more dealing with tenants 3) guaranteed positive income (assuming all payments are made) and steady return on money. 4) loan is secured by the property that they already know the value of 5) lessened or deferred tax implications on capital gains by spreading the sale out over time. 6) chunk of change up front (down payment) 7) balloon payment after designated note term for the remainder (assuming this is how it was negotiated) wherein they can take back the property if you can't pay. Otherwise they'll just continue to collect cash every month. The negatives though: 1) they need to own the property outright. I assume this. If not, some one please explain how it could be done short of "subject-to". 2) they don't get all the cash up front 3) they have to deal with foreclosure if you default. 4) they have to trust you to make payments 5) assuming they're selling a rental, their income from that property will eventually stop. I hope more people chime in. Very curious how to approach someone and ask for seller financing. Maybe it's as simple as just throwing the thought out there knowing you ma my be told to F off...

Aaron Mazzrillo Hey you sound like an *******. But I appreciate your input. Good to know that they look at a lot more than just the income when you have the LLC. As far as the deal between he and his dad goes - you're missing a lot of facts. But I respect your opinion and agree to a point that he could and should make his own way and let his dad cash out and live large. But who knows if his dad wants to keep the house in the family name too and is willing to work with his son because of it. Sentimentality is to each their own. What's just a house to you may be a final remembrance of a beloved family member, I don't know, i wasn't there. I just wanted to get some input on a possible opportunity for a friend but thanks for the badgering instead. I'll pass it along. Also thank you for your service.

I own a window cleaning business that operates under and LLC/S-Elect and am wondering if I should start my real estate investing through the business or personally. I like the BRRRR strategy over all. I understand there would be some liability concerns with buy and holds so possibly just use the business to finance the deal originally then refinance it into a separate entity after rehab and prior to renting. Essentially be my own hard money lender or even maybe make the business an equity partner in the holding company so that it can collect on the rental income as well. Hmmmmm...

Jay Scott talks about amenities in his book on flipping houses. Great book. Gotta look at comps. If other houses in the market have the outdoor kitchen and are selling or renting for more, then by all means do it. Just don't get carried away on things that you'd personally want when it's just an investment property.

Suzanne Griffiths I like that idea. I assume the purpose of getting the LLC is so that commercial lenders will look at the income of the property as opposed to a regular mortgage wherein they will only look at his personal income. Is that correct? Also when you say dad will get the remainder of equity at the refinance after a year or so, of course he could only still cash out an amount that the rental income would still cover so it may not be all of it. That said, I can't see why he wouldn't want to cash out 500k and still collect some mailbox money. I think I like this plan very much.

Thoughts from a newbie: Sounds like a cash cow- if you're just looking to simplify, I say hire someone to manage it for you and keep it as a rental. Better yet, teach your kid to manage it so he gets experience before you give it to him. You can use the cash it produces to invest in something else to get you that million in no time. Then do it again and again and again. I think throwing away all that money in taxes and commission and what not would be silly. Especially considering your point about SF only appreciating more and more. Feel free to counter any of my thoughts with experienced logic. I'm here to learn as well