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All Forum Posts by: Ronnie Gilmer

Ronnie Gilmer has started 7 posts and replied 20 times.

Post: First future rental property question/help

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5
Originally posted by @John Santero:

the projected rent to purchase price is strong. Make sure you can get the rent. call other units in the complex to verify. add up your rehab and projected maintenance costs. otherwise, TI at 338 per month is low- dont forget about insurance and PM costs too- good luck

 PM? Does that mean Project Management?

Post: First future rental property question/help

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5
Originally posted by @Josh Mitchell:

@Ronnie Gilmer 

make sure you do your math before. Does this property need any repairs? Make sure you account for all costs. Keep in mind, the HOA fees can and most likely WILL go up!! They will eat into your cash flow.

Thanks for your input Josh. Are the HOA fees usually the "condo fee"? (Sorry I'm a super noob)

Post: First future rental property question/help

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

There is a foreclosure on a condo in my area that is in pretty good shape for ($60k). The condo fee is $230 and the taxes are $1300/yr. The comps are renting for $1325 to $1500. I'm new to this and I am SUPER nervous. Would this be a good investment/second income? 

Post: The difference between types of payments and closing.

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

@Jimmy Moncrief  @Jade Davis  What I am referring to is a buyer that is interested in a property that is using financing vs cash in a wholesale deal. 

Post: The difference between types of payments and closing.

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

What is the difference in the closing process for buyers buying an assigned contract using hard money or bank financing vs. cash.  

Post: Wholesaler marketing / Next generation marketing tool extra

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

@Dev Hornthats exactly what I mean. Thank you .

Post: Wholesaler marketing / Next generation marketing tool extra

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

O ok. Ive seen them but the virtual tours would end up being just a bunch of photos so I didn't know that people actually presented point of view videos. Thanks

Post: Wholesaler marketing / Next generation marketing tool extra

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

First I must say that I am a complete newbie to wholesaling. However I'm not new to marketing. I am a professional videographer. I also have high-end cameras. I was thinking as a marketing perk I could include high end/high quality video to accompany the information and pictures of properties that I have under contract.  I'm interested in your thoughts and opinions on this tool from the perspective of other wholesalers or investors/rehabbers. 

Post: Purchase and sale agreement /assignment contract for my state(MD).

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5

Does any one have advice on finding correct and accurate purchase and sale agreement /assignment contract for my state(MD). Should I do a google search , hire a lawyer or pay a website that offers the paperwork for sale. Any input is appreciated.

Thanks. 

Post: I've found potential deals, newbie wholesale question about whats next.

Ronnie GilmerPosted
  • Investor
  • Fort Washington, MD
  • Posts 20
  • Votes 5
Originally posted by @JPaul Mills:

If you have a way to call them then you have the upper hand. They can throw the letters away but if you call them then they might be more open to hear what you have to say. You dont have to get and LLC but when you start doing deals it is definitely recommended.

 Im going to reverse look up their information using the address from the tax accessors office and hope that I come up with something. Thank you for the advice.