All Forum Posts by: Parius Futch

@Erick Barraza 

Can you explain how you turn while life insurance into real estate?  I am under the impression that insurance has to mature for a number of years before you can cash out.  

@Mike Lambert

The return isn’t bad. We have only property now because we were concerned about management being that we live so far away and not knowing what else to expect. We get 650 a month we paid 51k. We did finance with then builder for 25% down. Sort of hedging our bet. The mortgage is only 275 a month.

I think we will dive right in on our next purchase there. Also considering making a permanent move there.

Do you assist investors in Dominican Republic? If so how do you arrange financing?

@Mike Lambert

Mike you’re absolutely right about Punta Cana people go there mostly because of the all inclusive resorts. It is one of the more established areas and that’s why we bought there.

Ww currently rent to short term (3 to 6 months) however since we are not on the beach we don’t attract the vacationers. Our friend at Caribe connection got us connected with one of the hotels that pays for their employees rents. So we are considering doing that for long term local rent.

I love The DR, I own property in the Punta Cana area. If anyone needs a contact Isel at caribe connection Real estate is fantastic.  info@caribeconnection 

I have not worked with these guys but my brother in law has and he says his experience has been good and he has been able to BRRRR at least 1rental. I, however, agree with @Jay Hinrichs. It makes more sense to me if your a flipper and only going to use the funds for rehab cost and have the discipline to not go overboard.

As for being able to get business credit, fix credit or get advances on your own, sure you could but most people don't know how to do that or don't have the time. and frankly, you could do anything on your own. But that's why businesses exist, I mean why go to a restaurant when you could grow your own food and cook at home.  Why hire a banker to manage your money when you could invest on your own or hire a contractor when you could learn to build or rehab a home on your own ect..ect. But to each his own. 

Introducing the newest Real estate investing mixer in Jack London square.

Sponsored by McCoy-Futch & associates

This event is for everyone looking to get into real estate investing, already investing new and experienced. An evening to network.

Fee: $15 ( includes 2 drinks) buy tickets to the event before it sells out here:

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Guest Speakers

Sponsors McCoy-Futch & Associates- New investors Parius Futch and Roseanna McCoy-Futch will explain their journey of investing in real estate. The GOOD..the BAD..and the UGLY

Reliance Estates LLC- Reliance buy and renovate homes in the Bay area (Home flippers)

Artemis Investments-Artemis Investments is the Bay Area's Premier Real Estate Development Firm-owned and operated by women. Artemis Design-Build approach creates investment opportunities across a range of scopes including new development, multifamily hold, and value-add construction. Co-Founder Diana George will be a guest speaker ( Home Flippers)

InvestorLoans: Jay Chanthalangsy from InvestorLoans.net will be giving us the details on the process for getting approved for flipping homes and what his company has to offer.

@Jay Hinrichs  Thank you

Also I appreciate many of your post. They are very insightful. Your experience and knowledge in the REI business is very evident

@Jay Hinrichs MI is a scam and he is a con man, that’s no doubt. My brother in-law invested with him and found out the property management company was a stealing the rent. They are now selling the house. While MI is a creep and tells lies. I want to say that there is no need to bash the people living in these neighborhoods as dogs or bad people. I also don’t like the way MI describe them as just happy to have a place to live as if they want to be poor. Many people are economically disadvantaged for different reasons. I won’t get into that. A bad buy can happen in any market.

 I’m for Oakland California where houses in even what is considered bad neighborhoods are easily 500k. But I also grew up in what is considered the “ghetto” where there are a lot of great people. I learned lessons l use today and college could never teach. I invest in these areas without the help of MI or any other turn key company and make money. So please by all means bash Clayton Morris but not the people , warn investors to stay away. Everyone one in this mess is victimized.

 What do you mean by one post replies? I am trying to understand what people are expecting from this forum. I too have considered investigating Fund & Grow. I wouldn't depend solely on what people say here even if they replied 50 times. There are over 500 replies and  I see several people commenting multiple times. On top of that, this isn't the only thread on Fund & Grow. Best way to verify is to talk to the source and look for people who have used the service and will also make themselves available to talk to you.

Hello,

I am looking for private money lenders to work with. My wife and I have investment in Detroit, California and Oaklahoma and a vacation property in Punta Cana, Dominican Republic. We are looking to take our business to the next level. We are looking to invest in multi-families in the Midwest in urban up and coming areas. As well as additional vacation properties. 

 We  have identified several properties and we are looking to get a lender that will work with us in facilitating this. 

 additionally I’d like to know what is the best way to vet a private lender. Is it common for them to ask for money upfront to pay for insurance on the loan?