All Forum Posts by: Randy G.

@Mario Garcia great insight !! Definitely going to

Try the flat rate route and see how it goes.

Thank you!!

@Kenneth Garrett really! How do you get a flat rate? Did u call Realtors and ask them? Do you feel like your flip get sold just as fast if you used a agent?

I wonder if agents avoid sale by owner property

@Will Fraser thanks will. I’ll definitely take your advice and hire a pro to take pics, virtual tour etc! Thank

You sir.

Hey Guys!! I was wondering if anyone has tried

Zillow’s for sale by owner?

I’m wrapping up My flip and I’m thinking about

Listing it sale by owner. Paying a 2.5%-3%

To buyers agent. Only because the inventory

Is low and People in the DMV area (D.C. Maryland, Va)

Are buying Real estate like crazy.

@Todd Pultz Monday I’ll call my CPA and see what he says. This is all new to me. But I value

Everyone’s advice. I feel like I should also

Reach out to a regular lender (not hard or private) and see what they can do. This is way over my head. Gift of equity does sound very promising

@Jason Wray the gift of equity sounds like the best solution by far. I want to make sure I understand this correctly. I sell the property

To my wife for 200k. Down payment and

Closing costs are taking from the equity

Of the house. I’m thinking 20% down

payment for conventional loan.

Hard money is paid off and house is

In her name. Loan amount 160k? For 30 years.

How soon after can I refinance and

Get a HELOC?

@Todd Pultz this is starting to sound

A lot more complicated then expected.

A lot to take in and a little overwhelming.

I definitely don’t have any pentalties with

My hard money loan being paid off early.

I guess My goal is to see if there is a more

Profitable outcome with this property.

What would you do? And thank you in advance

I’m loving all the feed back. Exciting to see

So many strategies.

200k Hard money loan

335k ARV

$1700-$2000 rents in the area

@Austin Jones thank you. This is blowing my mind. This part of the business is so new and

Foreign to me. It’s exciting but nerve racking

Because I want to make the right choice.

I really appreciate your Insight/advice.

I’ll definitely research and look into this

More. Thanks Austin

@Jason Wray thank you for your reply. A gift

Of equity. Sorry I can’t say I do. How

Does that work? Does that payoff my

Hard money loan? I’m not sure I understand.

I bought this flip a couple months before

We got married under my llc. Should

I sell the property to my wife for

200k to pay off hard money and keep

It as a rental? ARV 335k.

Rents go For $1700-$2000.

I think she can get a way better rate then I can.

If I can pull out at least 40-60k and cash

Flow covers mortgage and heloc payments

I would be happy.

Is there a better Strategy? What would you do?

Definitely sounds like the brrrr strategy

Just not in my llc.