All Forum Posts by: Omar Ruiz

Since i posted that, I was advised to start gaining capital through wholesailing. Here is a video I found useful - https://youtu.be/2EgquEvSIbs

I spent time watching videos,  talking to other investors and connected with another wholesaler to mentor me. As kid today,  I started marketing my wholesailing business about 3 weeks ago and now have about 3 potential leads that I'm looking to put under contract then wholesale those contracts to an investor (rehabber). If, by chance,  these leads turn out, I would have gained enough capital to put down for a hard money lender (usually they want 20% of the purchase price, which includes the cost of repairs) in order to get into rehabbing (fix & flip).

There is one Massachusetts lender that will lend 100% of the purchase price plus funds to repair. However, it needs to be a good deal (total $ borrowed would be under $500k & the house is located in a market where it can sell/close fast in order for them to get their investment back, plus interest, plus enough for you to gain a profit. Google "Sky Capital LLC" or go to the bigger pickets hard money lenders page and locate them there.

On BP's show 176 "How to close 110+ deals in 18 months with Tom Krol", the topic focused on the different types of list that could help generate leads. See below. 

1) Properties with high equality

2) Code Violations (Closed violations for lawn care/landscaping)

3) Tax Delinquent (Tax Lien)

4) Garage Sales (via Craigslist.com)

5) Listsource.com

6) Inheritance (USleadlist.com) 

7) Pre-Probate

8) Probate

9) FIndmotivatedsellers.com (Subscription site)

10) Arrest records list

My interpretation of that show is that you focus on one of these list and master them to generate leads, until you can grow and expand your business. I would like to know from Massachusetts wholesalers, which list do you reach out to and how do you locate such list (except the specific websites)? As for the websites, has anyone looked into these sites and do they generate list for Massachusetts homeowners?

New Investor in Massachusetts, seeking Private $ investor. Scheduled to look at a property tomorrow morning & contemplating about getting deal under contract, however need a lender (loan).

Property (17 rooms, 6 beds, 2 full baths w/ 2 half baths, 4,222 Sq ft)

Purchase Price - $319,900; Rehab (Estimate) - $100,000+;

Requested loan - $419,900+ @ 6% interest

ARV - $589,000

PM me if you want me to email you a PDF of the property, comps, & calculated numbers to review.

I am brand new to REI. I want to get into flipping, however I do not have the capital to even qualify for HML (20% - $50k). I am willing to contribute to closing & holding cost, plus management of contractors for rehabbing.

I have found two (2) deals in Boston (under $299k) that came up yesterday. One has an ARV of $420 & the other has an ARV that ranges between $468k up to $680k. Please PM me directly if you are open to hearing about the deals & are open to arranging a possible partnership/JV (50/50 profit).

I am not a wholesaler. I am working to be a flipper. I am looking for someone who wholesales so that I can partner with them under a win-win situation (wholesaler finds a deal worth me & my partners investment, as long as the numbers turn out in the way we need them to earn a significant ROI, we would purchase the deal using HML, allowing for the wholesaler to gain a profit & us to have a cheap property that we can fix & flip).

@Marcus Tukes, I have maxed out the amount of conversations I could have. I have been trying to reach out to as many folks as I can. Could you PM or colleague request me as I am limited to do so based on my basic free membership.

Hello BP community,

I have been trying to get myself known to the BP community at large. I am brand new to REI. I am currently working to build relationships & find possible partnerships. I have connected with another investor willing to do aJV with me, under the condition for me to find a Wholeseller in Massachusetts that could find deals under $250k. Any suggestions on how to locate such an individual, unless you are that person?

@Zico George

@Zico George, check you BP inbox.

I am hoping to partner with someone right now, whom either manages others assets, has been a flipper, or has the capital to partner with an investor like myself. I was lucky to find a person after posting on a Facebook REI club page. They said they have lenders who could fund 100% (Purchase/Closing/3% Origination Fee/Rehab) but it depends on the deal. However, since I have yet to hear back around whether a deal is good enough for such finances, I need to develop other contacts. @Sania DaSilva, I am brand new to real estate and do not know whom might be a broker, unless you are referring to a real estate (buyers broker) agent?