All Forum Posts by: Peyton Leal

Originally posted by @Jon D.:

Originally posted by @Gary Lucido:

@Peyton Leal, how do you know it would be a loss without a discussion of what your hourly rate would be?

^^^^
Exactly

You telling me that you'd turn down an $800 an hour deal?
How many tire kicking "buyers" have you taken on as "clients" that haven't over the last 2 years who still haven't purchased despite many showings?

If anyone were to pay $800/hr (contracted) I'd get licensed in their state and be their personal on-call Realtor. Don't see that catching on though  

Originally posted by @Gary Lucido:

@Peyton Leal, how do you know it would be a loss without a discussion of what your hourly rate would be?

*All theoretical time 
$1.2M beach house, 3%, $36,000 commission.

168 hrs (1 week of solid work throughout transaction) is $192.86/hr. I can easily spend less time on a property to meet clients expectations, so the cost/hr would skyrocket.
If someone wants to pay $375/hr (96) or $750/hr (48), maybe sign me up! 

The realtor would then want a guaranteed number of hours, then it becomes an argument and battle when you could have a cash cow STR.

I have worked in every Texas Metroplex and small town: Brenham (F&R), Houston, Dallas, Austin, Lubbock, and now Galveston. Our vacation market is too hot and if other agents are discounting it's either because of astounding volume by said client or they are new. 

I try to keep a running average of how much I save clients at the end of every transaction. $15,000 is rough average after negotiations and correct pricing on houses.

To be paid hourly here would be a loss and it just wouldn't make sense. I could see this working in smaller markets but it would be case by case.

We used Sprout Financial and it went Terribly Wrong! They stated BANK LOC's and instead got my partner credit cards totaling $103K ON HER PERSONAL CREDIT! The inquires and lines killed her credit.

READ FINE PRINT.  

We are looking into other companies that will find true Bank/LOC's in LLC's name.

@Patricia Steiner

It’s been something haha! It has fluctuated and I’m just getting back to 700 score after our last flip.

LOC is the ultimate goal, commercial or personal. We also still utilize private money lenders in every project.

It's finding the bank that will see that we've used our $100k+ Credit cards responsibly and convert to LOC

Peyton here!

Figuring out ways to not only hack credit cards for travel, cash back and credit scores.

Has anyone figured out how to cash out a Credit Card during your 0% interest timeframe to purchase a investment?

Theoretically, could you just get out your square, enter $20,000 and cash out without introducing the instant 12-24%?

From 2 partner's personal lines to business lines we have more than $100k, that we plan to consolidate into a LOC. How do you get this money to work and purchase a house?

@Pedro Tavares

I figured it would come down to local banks and trust in what we do/know. I have HM & possible PM to build. Like you said hopefully after construction they will refi the project.

I’ve found a few banks loaning at 30 year terms! Just not for modular. Others will only allow personal residences, no investment.

I am hoping to find a connection with commercial lender that will fund, new build modular construction.

We have vetted the builder, walked through their factory, systems and processes and seen the final product rented in the market.

I’m looking for a 30 yr loan for offices or multifamily units.

@Andrew Postell At the moment I’m just having the trouble in a new market finding a lender that will lend on equity built in. Finding deals at that target aren’t actually the problem, depending on the class of property.

@Alexander Felice Thanks for the reply! I’m moving and will be in a new market. Current lender wanted to be able to lend but local board tied their hands So, I’d have to bring 20% down. Now searching for a new bank in that market that will do the loan with built in equity. Anything specific you ask the bank when vetting them? This deal will probably slip but I want it in place for the next.