All Forum Posts by: Nikolas Ferreira

awesome thanks for the replies we will give ERentPayment a try

@Yvette M. have you had any issues with erentpayment?? seems like a decent deal. 

@Eric James the one yvette mentioned is 3 per transaction or if you have too many you can do a $10 a month deal for 5 transactions and $1 per additional one 

to Not miss any moments of my kids life because of work. 

Not to worry about being able to go somewhere with the family or not.

to enjoy the time with the elders of my family and loved ones because that time is limited.

to travel and become more culturally wealthy!

to help change the lives of other as some have done for me. 

Hey Everyone!

so we are considering the idea of collecting rent online using one of the various available websites out there. 

my questions are 

1 - do you collect electronically or in person?

2 - if electronically what service are you using?

3 - why this method pros - cons based on your experiences. 

fyi - this is for single family properties, not multi. 
any feedback is greatly appreciated!! 

Thanks,
Nick

Hello @Sandy Sawyer where in Park Row? and who is hosting it? 

and @Veena R. sandy has good points, it will be very hard to find really good flip opportunities on the MLS they are some but they are far and few in between, for flipping your best bet is to get really comfortable working with wholesalers.

now if buy/holds is primarily what you will be doing those are easier to obtain on the MLS.

Best of luck

Nick 

haha are you kidding? everyone and there mother is wholesaler in houston these days. 

is this a property you have a lead on or just an imaginary scenario type of conversation? 

that's not a bad %. its unfortunate that the 2 declined your offers. did you make the offers in person? or just over the phone? feel free to go to PM if you prefer.

Congrats, that's an impressive turn out for the letters. out of those 5-12 calls how many are actually good leads? 

it all depends on how much you will borrow since you normally have to pay points up front normal would be something like 1-2 points plus $750 documentation and around $450 for an appraisal. 

after that somewhere between 10-13% interest normally torwards the higher end until you build a rep with them. or you have enough experience. 

and with a normal loan, you will almost never be able to get the properties as it will take too long and wholesale deals dont. so unless you find the property and you get the seller to agree to your time frame OR if its a house listed on the MLS

Hello @Account Closed have great points. and ill pick some to go into a bit more 

(ps. i know both of them, and met personally with Tristan just not Andrew although we keep trying to plan to meet at one of my rehabs) 

Anyways as Tristan said there are WAY TOO MANY post cards flying around specially if you plan on buying where everyone is buying. that being said if you look outwards further out from town you odds get better - we pulled about 1 property per 500 letters.  

and now onto Mr. Taylors portion - Personally i dont have a problem on how much the wholesaler makes as long as there is enough left in the bones for me as a flipper last deal we bought the assignment fee they made was for $20k, and on the wholesale side i've made as little as $4k and as much as $30k assignment on single properties however on all of them the investor purchased the property at 70% all in from me.

now the 70% rule is almost nonexistent unless you have a very good relationship with the wholesaler and that is because they know they can push out deals at 80-85% sometimes even 90% ARV and it will still sell so why wouldn't they do that and make more money???

hope this helps bring more light into your investing strategy here in houston. if i can help in anyway let me know. 

Regards,
Nick