All Forum Posts by: Justin Morris

I have a foreign investor who would like to provide the rehab budget for my next project. Can they simply setup an account here in the U.S like HSBC Premier that can be used in Europe and the U.S. Then transfer the funds into the repairs escrow once the funds are in her U.S bank account? Secondly, once the deal is over can her profit share be simply wired to her U.S bank account and she can deal with them how ever she would like? Also, this way does she have to pay U.S tax on this money?

Anthony Dadlani What a fantastic program you have here, just a couple of questions. To qualify for the 100% purchase price only financing, do you need to have a track record of 3 properties as well?

Additionally, what is your criteria for properties in the Atlanta area? What kind of general track record/ experience do I need to have to work with you? Or does the approval mostly weigh on the quality of the deal? Thank you.

Tom Goans Thank you for the wise advice, this is why I come to BP to find direction on questions like this. Is a CPA the best professional to speak with about this?

I've got a international investor (Romanian) who is interested in becoming an equity partner in a few of my upcoming projects. Can they set up a SD IRA through Trust ETC for example or is that restricted to U.S Citizens only? If so, how would they go about investing money with me in U.S real estate?

Sorry gentleman I've moved south, so I won't be able to meet up in NYC anytime soon. But I'm all about networking, shoot me a message and we can chat.

Chris Weiler Do you find short sales to extremely competitive and over crowded? That seems to be the case here in Atlanta, the big hedge funds are bidding everyone up and over paying.

I've had experience with Cubix Solutions, it isn't worth it, to be honest there is no software out there that can automate craiglist for you. Craiglist is always changing their algorithms so their bots can stay ahead of the game. They also have a lot of live moderators that do a pretty good job of keeping things under control when it comes to enforcing their over posting laws. My experience with Cubix was horrible, the program isn't controlled enough, it's too genreal. First of all their posting capacities are very limited and with phone verified accounts these days it doesn't work well. I was also was using it as an auto responder for FSBO & FSRO ads, it was terrible. If the same ad it just replied to was posted again, it would immediately send out another email to that person. I had a bunch of angry emails one day telling me to stop harassing them. I shut it down after a week and then spend a bunch fighting with the support guys who didn't really know what they were talking about. The bottom line for me is, you either have to do the posting yourself or hire a VA to do it for you. That is going to be the most reliable way to post and respond to ads, Craigslist just has to many security measures for computers to try and get around.

Patrick G. Thanks for the input, I like that idea and you are right 33% ROI is pretty darn good. Plus, 4.5K isn't very much for finding, managing and completing the project, I think 15k is much better. Now, I just need to find a deal that's I can put in 90K and yield a 30K profit, that maybe the hard part. :-)

Got it, Thanks Patrick G.....How would you more experienced investors work with these three money partners in a way that is going to make them decent money? To you is investing 65k and getting back 18.4K in a 4-6 month period well worth it?

I am wondering what people are seeing in terms of profits in rehab deals lately? Is making 25% on fix and flip a thing of the past?