All Forum Posts by: Rob Green

 Ok. That makes more sense. But, regardless of your credit, a bank is not likely to lend you enough money to pay for the title fees anyway.

I'd suggest that you connect with a fellow investor and have them pay for the title policy in exchange for a split of the profits. They can also screen the deal with you and give you a second opinion on the terms of the deal itself and the terms that the hard-money lender is requiring. 

You may also find that the investor has access to cheaper money.

Good luck!

If you search the forums here on BP, you'll find lots of great instructions on how to be an effective wholesaler. However, here's a primer for what wholesaling will involve.

The first step is to find potentially motivated sellers. This could be done by driving through neighborhoods and looking for neglected homes or obtaining a list of potentially motivated sellers from someplace like listsource.com, and mailing letters to those people. In reality, there are many ways to find motivated sellers.

It would also be helpful for you to start building relationships with local investors who might be interested in buying any homes you find. You could do this by attending your local REIA and meeting other investors.

Best of luck!

Joshua,

I'm not sure I understand the situation. Is the hard lender suggesting that you borrow money to pay the title company fees? 

@Alex DeBirk

Follow these steps for the info you're looking for:

1. Go to http://www.utahcountyonline.com/LandRecords/Addres...

2. Type in the address you're looking for. In this example we'll use 532 N 400 E in Mapleton and press "search"

3. Click on the Tax ID # (also called serial number) on the new page.

4. On the new page, click on the serial number that has a "green" colored year next to it. This is the most recent, active listing on the property. In our example, the year is 2010.

5. On the page that follows, you'll see a number of tabs with one labeled "Owner Names".

Even though the property address and the mailing address are the same, the owner may not live there. Sometimes,  by clicking on the owners' names info in the "Owner's Name" tab, it will show you other properties owned by the same person.  You can then cross check that name in Google to find contact information of the owner.

If you strike out on Google, you can either do a "Skip Trace" to find the owner, or simply talking to the neighbors of the property can give you the contact info for the owner.

Good luck!

 Here's a link that explains more about the defined benefit plans you can use to sock away a ton of money: http://www.onepersonplus.com/onepersonplus/faqs.html

 Thanks!

 Jeffrey, do you have the contact info for the Utah county club? I attended a meeting for one before the crash years ago. Do you have any recommendations for people here on BP in Utah to connect with?

What you're looking for is called a "saturation list". Here's a list of providers: https://www.google.com/search?q=saturation+list&oq...

If however you're wanting a targeted list of prospects, title companies will often provide those to you for little or no money.

Good luck!

@Michael Quarles

 - Forgive the ignorant question, but what is a ZipLetter?

For flippers who are doing a TON of consistently large amounts of income, you may want to look socking away those proceeds ina defined benefit plan. This particular type of plan allows you to put away a LOT more money than a 401k, IRA etc. These plans are most often used by high-income individuals like medical professionals.

Of course, check with your accounting and tax professional first, but DBA's allow you to put away a lot of money in a tax approved manner.