All Forum Posts by: Nick Hundertmark

Hey everyone, I've been investing time and money into marketing for deals. My partner and I have been doing all of the work - creating list, sending mail, taking phone calls, scheduling meetings, making offers, finding buyers, working with title company, etc. There's a reason people call this a job. Plus, we both have jobs that require more than 40 hours a week of attention. We've been successful in our first few marketing campaigns and have deals set up to close. I'm reaching out to you experienced smart investors who have experience wholesaling. What were some systems that you put into place that allowed you to focus your time on the high dollar jobs? For example negotiating with sellers and buyers instead of putting stamps on letters. Does anyone have experience outsourcing their mailing? I think it's important that mail is done correctly, with a personal touch. But it's impractical to do your own mailing at scale. What about VAs? I'm interested in hearing your thoughts on this topic. Any and all advice welcome! If there's anything else you'd like to know about what we are doing dee free to ask! I like to share advice as often as I take it. -Nick

@Bill Rich thank you for sharing, Bill! That's good to know. 

@Denny Faircloth Wow, that is a great story about your client. I'm looking at properties that are very distressed, so I will absolutely look into that loan product. Thank you for sharing. 

I would greatly appreciate a referral for your wholesale friend. Do you know if they work with 203k/homestyle loans, or just cash? Either way, I'm happy to get in touch. 

Any recommendation on contractors or builders that you know can handle involved rehabs like that one that your client undertook? 

Thanks again for reaching out!

Nick 

@David Baer David, congrats on finding a house hacking deal. Do you mind sharing with me some details? What area are you buying? How did you find the contractor for 203k? Did your agent bring you the deal or did you find it yourself? I'm very interested in everything you are willing to share. 

Also, shoot me a message or email and I'll send you the contact info for Bruce, the mortgage broker I am using. Let's link up to talk more about real estate.  

Nick

@Michael Ehmann that is a great story about your house hack. It shows how a little bit of creativity and sacrifice can afford a great deal of upside. You'll be able to save much quicker with a reduced cost of living. 

Did you buy the condo with 20% down? If you bought well enough you may have enough equity to pull some out and use in your investment properties.  

@David Weintraub David, thanks for the advice. I go to a few local groups in Harrisburg area and heard that DIG and REIA are great. I saved your contact info and will reach out when I get settled in the area.

By the way, interesting experience in your profile. Sounds like you've been very successful in your career and I'm sure you'll continue that trend in real estate investing. 

John Knisely hi John, thank you. Can I message you my contact info? I'm looking for houses in those areas.

@vincentpace thanks! You as well. What do the terms look like on your real estate loans? I'm going to be hunting for deals as soon as I get to philly. It's always good to know lenders.

Michael Ehmann Hi Michael, my partner is a friend that I've had since high school. When I started getting excited about investing I shared what I was reading and listening to with all my friends. This particular friend - now partner - was just as passionate and excited as I was. He has a family member who was willing to lend us the money. He also has a brother who is an attorney and accountant - so we were able to get free tax and legal advice when forming the LLC. I'm bringing hustle to the table. I was the one who found the deal, underwrote it, presented it to the lender, went to closing, managed contractors, and ultimately vetted our tenant. What kind of experience do you have? I know a few guys down in Atlanta. I heard the market has been blowing up. Nick

Hello BP friends, I'm fairly new to both the professional and investor world. I graduated from college in spring 2016 and began working in medical device sales a few months later. Like many of you, I read a series of real estate books and fell into BP. I drive a lot, so I've listened to all the podcasts and decided that it was time to take action. In November 2017 I closed on a SFR property in Steelton, PA. It was an inexpensive first deal that i entered with a partner who has similar RE goals. We used a private loan to purchase and rehab the property, which needed minor work. It currently rents at a monthly rate 2.5x the purchase price - providing plenty of cash flow for our reserves. I believe we are all in at about 70% the ARV. I'm seeking to add to my personal investing via a house hack. I need to move towards Philadelphia in the coming months and currently seeking a 2-4 unit property that works for my FHA 203k loan. Side note, I have a great mortgage broker with experience in FHA loans and investing if anyone in the area needs help. I'm going to ask a lot of questions of experienced investors so I am happy to answer questions that I have an answer to. Looking forward to connecting with like-minded people! Nick