All Forum Posts by: Raymond Lopez

Savers are losers! Money is currency which means it always needs to move, when it stops moving it eventually becomes worthless. Why not leverage other people's money by acquiring good debt and keep streams of money coming in and eventually you will get to 100k liquid cash in no time. The amount of time it would take the majority of people to save that amount of money would be years, especially with little to no interest from the banks while it sits there doing nothing. At least you would have built a ton of equity in properties while you reach your goal. Find more ways to NOT work for money, but let money work for you!

The only thing that would scare me here is if you have no intention of truly purchasing and instead using these deals as a wholesale. Shouldn't these letters be structured differently? It seems that the seller would be mislead in believing you are buying right away since your stating you have cash. Unless you are buying out right and then flipping? I'm new to wholesaling so just trying to figure out on doing it the right way without coming off to the seller as a bad investor.

I believe every state is different with this, but in NJ I use the local township websites which some provide an interactive map. You can click on each property which will show you the owner info and if they don't live there it will usually provide an alternate address. This is only if it gets reported to the town. You can always try sending mail to that address and see if it gets forwarded to where they currently live. Usually when people move they update there address with the US post office. Other then that not too sure.

thanks Mike, let me reach out and see what they want and I will message you.

Brandon, just to add to FHA, you can even look into doing a FHA 203K loan for rehab. They will roll the rehab into your mortgage.

I think that all depends on how much you really need for the next investment.

Just curious, if you refi by taking almost all of the equity on your rental would you still be cash flowing a good amount?

Originally posted by @Account Closed:

what are they looking to get for it ?

 they asking 22k, its a 10,625 sq ft lot. Its also well maintained and doesn't need any landscaping done.

Why not use the tools on BP to calculate your ROI??

Originally posted by @Account Closed:

I LIVE IN PSL where is the lot? and what are you thinking of building on it or selling it ?

 check out my earlier post for location. They would be willing to sell also if someone were to make a good offer. I would need to check with them on what they are asking.