All Forum Posts by: Greg LeDoux

Jon,

Thank you for the prompt response. My father has a sizable retirement which he would like to use to help myself and my siblings invest in REI. I would like to find a means for him to do this while reaping the most benefits. He really wants to be hands off, as he is currently on his sailboat in Costa Rica and heading to Australia soon.

Any suggestions or strategies would be greatly appreciated.

Quick question? Sorry if it's been answered already, but I'm short on time.

Can my Father's SDRIA loan money to an LLC of which I am a member?

Thank you for your time and expertise.

Have any of you used either of these apps? They seem useful, but it would be great to hear from someone who uses them.

Ultimate Estimator
and Property Evaluator by Wasatch Digital Media

Ah, I figured it out. In order to post soliciting deals, buyers lists, etc. You need to be a Pro. There is a monthly fee to be a Pro.

Capitalism at its best.... I can support that.

Denise,

It is a place to network. But I guess its similar to all the other places in our world where productive dialogue needs to be regulated and imposed upon.

I requested you to be a colleague, that way we can have unrestricted dialogue.

Hi Denise,

Hi Richard,

I am new to BP within the week. Welcome!

Are either of you members of NWREIA?

I'm in Portland, put me on your buyers list. I'm not ready to act yet, probably within the next 60 days though.

I'm an experienced investor, but I have been out of the game since 2008.

Are you a wholesaler?

How about offering the Buyer Agent a fee above and beyond the commission. This solidifies the business relationship as you are personally paying for the Agent/Brokers service. (as long as this is on the up and up)

As I see it, Seller and Buyer agents receive their funds from the seller.

Rusty - I have approached REO listing agents in the past. They said they were unable to represent a buyer. This seems to work for you, and we are in the same state. What have you found to be the solution?

What if you were to offer to pay his monthly net. So basically you are offering to take over the management of the property.

For instance there are several 4 plexes in an area of Portland I am interested in. They are all rented lower than the average rent in the area. 950 per month per unit and avg. Is 1200.

So assuming the gross rent is $3800 and expenses are $1400. I could offer to take the hassle of management and pay him his net every month.

I will assume that the property is rented. Now because gross rent is low, I can increase it incrementally over a 5 year period to create a positive cash flow. If you increase rents 5% each year over 5 years, you will be getting $1200 per unit.

During that time, I could try and offer up cash for 30 cents on the dollar to buy down the principal. For example: in November offer 10k in cash for 30k in principal. This cash would be generated from profits from flips and wholesale deals.

Or ask for a note for 400k at 4.5% over 40 years with a 15 year balloon. $1798 per month.

Please don't hack me on this. Just an concept.

Jeff,

That would be great. The quickest way to Salem from St. Helens is through Portland.

I actually live in Portland now.

Jeff & Rusty

I am fortunate, as I have two investors, each with significant cash funds to invest in deals. I plan on targeting REO's right now. It will not be a problem to make cash offers on REO's, with generous EMDs, lenient contingencies, and quick closes (which I think is appealing to Banks). Investor splits profit 50/50 with me and my associates.

My plan is to make offers that top out in the 70% to list price range + rehab costs.

I am also targeting Short Sales, but I am not sure yet if my offer parameters will be appealing.

Have you attempted to buy REO or SS in Portland/Metro?