All Forum Posts by: Nechelle Vanias

I have an off-market deal in Calabasas, CA that I have under contract. This is a double close. Buyers couldn't perform with the HML broker I referred due to credit issues so back available. Looking for 10 day all cash buyer.

5/5 House in rent ready condition

Convert to 5/4 with 1/1 ADU. California just passed bill to allow ADUs to be sold as condominiums which is an additional marketing point if you can qualify this ADU for such.

1.5M Cash

250k Rehab

2.2M ARV

Close Date November 13th. Message me for more details.

Hi Rico, 

Would love to talk about the sort of deals in which you're looking to partner. We are working on high end deals in SoCal and under 100k-500K deals in Buffalo, NYC. Let's talk.

Thanks.

Nechelle

I'm interested in meeting up as well.  @Sam M. I think we need to set a time and place and put it out to those interested.  You want to talk offline to set that up?

Welcome back Donna Timberlake, I'm glad you've decided to return to real estate investing. The best learning is doing. Get to work, we'll be here to support you!

Sean Reynolds,

The longer you draw it out the bigger the risk you take with ruining your credit and the more money you lose covering your cash flow rental shortage. Start the process now so that you can start the clock to being eligible to purchase a new home through the traditional means again. The stress of the situation you've described isn't worth it.

Additionally, you're on a real estate investment site. Think out of the box. If you're in a big rush for whatever reason to buy again then seller finance your next home purchase until you can refinance with a bank. Or better yet, buy your new home now before you short sale (which many people do) and then you don't have to worry about credit.

There are a lot of options that are less stressful and better business moves then trying to hold on to a losing asset.

Good Luck,
Nechelle Vanias

Eric Kindberg is a "do it by the book" kind of lawyer and so he'll give it to you straight. Below is his information:

J. Eric Kindberg
Attorney at Law
704-507-6444 direct

BERGER, KINDBERG & NAVARRO LAW
A Partnership of Professional Organizations
ATTORNEYS AT LAW
704-553.-7614 office
5950 Fairview Rd., Suite 808
Charlotte, NC 28210
www.LawCarolinas.com

The best option is to buy a rental property free and clear. 30k is not really enough to buy a property to give you the types of returns worth your time and the type of property that you would want to have. You should consider being a private money lender to increase your cash as well as saving additional funds from your earnings. If your goal is to build a retirement nest egg, then you might also consider using your IRA funds to purchase rental properties.

I work as a property supplier to a few of these "turn key" companies and while I know of several that overprice "turn key" properties, the companies with which I work do not. I create the inventory that they market to their clients and it is often a challenge to find the deals that work for their required returns because the ethical companies aren't trying to market overpriced properties to their clients. That's a short term approach to business and over the long run, their clients won't return if the deals aren't good. (Note: I don't reference the companies because they cater to international investors only and we are private label supplier partners.) But a bit of research online will let you know rather quickly whether you are overpaying for a property or not. Don't abdicate finding your real estate deals, delegate it.

@Zimean V., give me a call and I'll give you some tips on getting started. Warning, it's going to require taking some extra vitamins (no I don't sell any, lol) so that you can stay up for the Second Shift. That's the title of my next book (or my first one). The Second Shift is after you've come home from work, put the kids to bed, spent time with your hubby, and are ready to start your second shift working on real estate deals.

I sold hundreds of properties on eBay. The landscape on the site has greatly changed since in the last four years. There are only a fraction of properties listed there which means much fewer potential buyers are looking there for possible purchases. Just not enough inventory to interest many people.

We chose eBay because it had an international reach and our properties were between $10,000 and $40,000 which made them ideal for bidding. I only did auctions, so am unsure as to how higher priced properties that are sold in the classifieds format will sell.

Finally, eBay has changed its pricing structure. Previously if a buyer didn't complete the real estate transaction you lost the fees associated with upgrades but the main $100 listing fee was refunded. Then they changed that and you lost everything. A lot of buyers began to bid, win and then not follow through and the cost of reselling became costly.