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All Forum Posts by: Omar Parks

Omar Parks has started 3 posts and replied 29 times.

Quote from @Chris Seveney:

@Omar Parks

You will not find a lender in the us to lend the money unless it’s a private money

Your best bet would be if you own property here to use that as security but if not then it’s just tough


 Thanks!

I'm looking for advice on where to find International lenders. I'm currently looking at a property in Belize but have not yet obtained my residency (should have it by the end of the year). The lender I was talking to (in Belize) won't lend to me because they don't provide loans to individuals who will obtain (or currently has) residency on a retirement visa. 

Any advice in terms of leads or where I could research them (leads, lenders) would greatly help. 

Thanks in advance. 

@David Hooper, I think the individual that started this thread is referring to Sprout Financial https://www.sproutfin.com/. It seems like you're referring to Sprout Mortgage which looks like a great company to work with (disclaimer, I've not worked with either company).

Post: Establishing business credit with personal guarantee?

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

Do you also have a DUNS number for each business? This is separate from the EIN (or Tax ID). I only ask because my understanding is that a DUNS number will help you greatly. I'm in the process of trying to set up business lines for my LLC too. Sounds like you're doing the right things.

Post: E-Appraisal.com

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

Thanks for the feedback. I just discovered that site and thought I'd ask for feedback.

Much appreciated!

Omar

Post: E-Appraisal.com

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

Has anyone every used E-appraisal.com? For those of you who have used it, does it provide a ballpark figure when it comes to the true value of a property?

Post: What's best way to market for deals in a Strong Market?

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

Kelly,

I can only share my experience in Eau Claire. It seems to be a buy and hold market first and then a fix and flip market. The challenge with Eau Claire (for me) is finding reliable people who can do the contract work needed on a property. Admittedly I don't have much experience but I've had a few people flake out. You must persist and network to find really good people.

There are some wholesale opportunities. There is a project going on right now on Birch St. by a group that is literally tearing out everything and rebuilding the house from the foundation. There are also some HUD homes available that are opportunities to fix and flip.

As far as marketing to motivated sellers I would speak directly with local agents that work with sellers as they would provide the best advice. I would be happy to give you the name of some of the people that I work with. 

Omar

Post: Newbies and need help and guidance.

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

@Michelle S.

I'm in Eau Claire and it took me a while to buy my first rental and I would be more than happy to share my experience with you and let you know some of the people that I've worked with that have been a tremendous help. It is scary but not nearly as scary as you think.

Post: Greetings from Milwaukee

Omar ParksPosted
  • Investor
  • Eau Claire, WI
  • Posts 35
  • Votes 3

Adam, 

Welcome! I'm in Eau Claire. I don't know much about the Milwaukee market but if you ever wanted to know more about the Minneapolis-St. Paul market, I'd be happy to do some research for you. 

Good luck.

Omar

Sorry to hear that you got scammed. I live in Eau Claire and will steer clear of this guy. Whenever you are dealing with someone in Wisconsin one of the things you can do is check Ccaps which is the public records for Wisconsin courts. A quick search on this guy bring up 27 court records and he's been sued a lot.

If you ever have another deal in the State of Wisconsin or Eau Claire, feel free to PM me, I know a good real estate attorney so you can avoid people like this in the future.