All Forum Posts by: Roger Poulin

@Mindy Jensen, what kind of rates can I expect to net with those P2P sites after fees?  It might be a way for me to diversify.  What kind of due diligence is available for the borrower(s)? Is there any recourse for non payment?  This is very interesting to me.

That you Josh and Luka.  I may be starting on a strategy.

I appreciate that suggestion. I have not done much with rentals lately.  Maybe I should reconsider.

I have an odd question as a flipper.  When you have received a decent payday from a deal and you don't have another deal lined up, where do you stash your money so you can get to it in a short time frame and still have a fair return?

I am in Nashville and the market here is HOT. It is hard to find motivated sellers to give up there homes at a discount. I have sold a flip or 2 a while back and that money is sitting in a savings account waiting for someone to call from my direct marketing efforts. I am getting almost 1%, and I think it is pathetic.  I have thought about ETF mutual funds, but I am afraid of the value going down or it only goes up a little and the fees take all the return. A money market would keep me liqud and safe, but only slightly more return.

I would love to hear suggestions.

Memphis is cold. The one good thing about that is that there are few buyer to compete with.  Hedge funds are investing in Nashville and driving up prices.  In Memphis you may be the only one to look t a house if it is not a great area.  Find a motivated seller and offer 50% of the current value, take you instant equity or start your play from there.  

You could go one better, find a run down neighborhood within a mile or two of of a business hub and buy the whole neighborhood.  Rehab a block at a time making it beautiful.  There is a woman in Nashville that is getting $600-$800K for old crack houses.  You could do the same.

I have bought a hand full of properties in Tennessee at tax sales. In this state when a property is purchased the deed goes into the purchasers name shortly after the auction but there is a one year right to redeem, then the buyer can file a motion to quite title with the court to get an insurable deed.  I have properties that have passed the redemption period and are in the process of clearing the title, but that can take 6 months to a year.

Is there a lender out there that would loan me funds on a property before the title is quite?  I would like to reinvest some of the profits before the 2 year window.  Even if I could only borrow 50 or 60% that would help me speed the reinvestment.  If someone would do that what terms should I expect? If not Tennessee, is there another state?

Just a thought.