All Forum Posts by: Paul Thacker

Hi I'm not a direct lender. I'm a private money broker. However, I do have several resources and was wondering what type of interest rates are you expecting?

Congratulations on your first property success! North Carolina is a great place to settle. I've been here all of my life. Most people move in the Cary, Raleigh/Durham area. Keep up the good work and I wish you well in real estate investment journey!

Okay! here are two ways to build a buyers list in your area fast.
visit your local housing authority website and you should find a list of houses or the owners with rental properties for section 8 members. I may not be giving the info. in order but you have enough to go and do your homework.

#2- visit your local tax assessment office or website and learn when will the next tax sale or foreclosure sale take place and you'll find buyers there. Introduce yourself, have business cards ready to pass out and learn what their criteria is and start shopping. :roll:

J Scott, what do you do when you can't find any houses sold with the exact description 3 - 6 months old to prepare your comps?

Hello Bill, Ryan, Jon and everyone else that replied and still others that will reply to my post.
I expect a reply and it can be good, bad, tough, rough, normal or abnormal.
Here's the truth - whatever works for you in your state without breaking the law "in your state" is great!
It's obvious you guys are more experienced and the feedback is more about learning what others do and how others think because at the end of the day we "ALL" do what we have to do to make it work and nothing is written in stone. :wink:

Great Job Samuel!
You are an inspiration to the few that's waiting patiently to reap the rewards of real estate investing no matter the amount of the first, second, third check and the many other checks to come.

The fact of the matter is you learned what it took to get paid :roll: and you made it happen.

The only thing I probably can say and be safe without advertising is this. You must have the property under contract and a secured exit strategy. And of course you may need extra collateral.

I have some other details you are requesting but I can't legitimately post that information. My first post was edited and I don't want to mess things up.

Maybe you can send me a PM if you are serious we can get you the prequalification paper work.

I'm new to this forum and I have not learned all of the rules of posting yet. I'm searching!

Thanks :D

:D Wholsaling is a great way to get started as a real estate newbie. However, I notice how some gurus don't teach their students to have an appraisal and inspection.

All of the investors I know that have serious cash to buy requires you to have both.

It's important to have both to consider if it's a good rehab/fixer upper deal. If the inspection shows that the cost of repairs is more than what you are willing to pay and if the appraisal can't get you the arv you expected it's not a deal and these are two clauses you should have in your contract to come out of the deal without losing your earnest money.

Okay, if it all works out to be a deal it's much easier to show a 25-30% spread to your investor-buyer when you have professional paper work to show the numbers.

This also lets your investor-buyer know you've done your homework!

Of course you are familiar with google maps. But did you know that you can learn the prices for what homes are selling in a specific area?

Simply type in the search box at (www.googlemaps.com) the address of a property or the zip code and after the info pops up you'll find a blue text box, click on it and when it drops down click on real esate and watch what happens.

Now you can take the numbers and determine what's a deal! :mrgreen:

Hello to Bigger Pockets RE Investors/Netwokers,

I'm greatful to be a member here and enjoy the time I spend in the real estate market. My wife and I focus on reo's to wholesale to other investors and we provide hard money to newbies and veterans in all 50 states!

Soon we'll be adding residential/commercial to our portfolio.
Hope we can help you with our hard money service.