All Forum Posts by: Ryan Naylor

Community bank in the area is your best bet. Is the home a mobile, then probably not, but a local bank will determine that. 30k on a 35k house is not a good loan. Sounds like your going to need to do your own appraisal and bring the data to the bank and see what it's going to take for them to loan you money. 30k on a 45k+ is more likely to produce interest.

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I am pretty sure you can purchase a list from yellow letters.com

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I like this post, there's nothing wrong with making a profit, supporting your business AND being decent to the nature of humans. I think all that is being offered here is that you can still be decent and make a profit.

What about making a profit by being decent? The more help you provide someone the more they are willing to pay and gladly thank you for that help.

Like Cardone says, you sell someone a hamburger at the same "market" price across the street from Mcd's, and you might make some sales. You sell a burger on an island and they will gladly pay 10X what it's worth.

The debate is do you need to 10X it or can you give the poor guy a solid and 3X it and still make a profit?

Some say, if he's willing to pay it then, yes. Some say, I'm still making a profit so I'm happy and content.

Nothing wrong with greed. But it's a double edged sword, some think of it as a way to improve themselves, they get better and improve so they can make more money at what they do.

The other side take it as there's money to be made so I need to maximize the profit margin so I can.......

Honestly, I'm not really sure HOW they rationalize it!!

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Originally posted by @Jim K.:

@Darren Looker

I'm a low-income landlord in Pittsburgh. I have at least some knowledge of what it takes to acquire, rehab, and manage properties like the ones Morris and Oceanpointe promised their investors. For anyone with any knowledge of making D'class work in the Rust Belt, this sales pitch was as fantastic a premise as the Chronicles of Narnia. For Morris to protest he didn't know what was happening now...it's a classic Big Lie.

...in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods.

Adolf Hitler

The guy was in the business of passing lies as fact and a professional mouth piece for national media......

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Oh my goodness....

Why is this a "bad property"? Whats the situation, that might be a better way of determining your best course of action.

Nevermind. just read the last post....

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Originally posted by @Kyle Lauriano:

@Ryan Naylor Appreciate the response!

Yes, you are correct I don't believe that's right, I believe I may have misheard information.

On the other hand, having a private money partner provide either down payment or renovation cash to your LLC, while your LLC is financing the property as a whole is a normal occurrence, correct? - this is the bare bones question.

Yes, I know convention are touch to deal with, especially when you mention flip!

Thanks again,

A hard money lender should be able to provide up to 90% financing and 100% rehab costs, your "partner" should have a conversation about what his role is going to be. And all of you can sit down with Hard money guy and have a conversation AFTER you set up an LLC.

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Hi, coming from Cali, that's almost comical!

There aren't many places to hide from the inversion here though. Sorry.

Especially anywhere near the airport because that's by the lake and the lake is what causes the inversion.

How much of a house are you looking to buy? Check out Park City

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@Kyle Lauriano:

I understand forming an LLC with the investor is an option, but is it possible to utilize a partnership agreement between two separate LLC's? -

Why?

Just make an LLC where all parties are concerned and then you'll "season" the title. Which means you'll hold the title for an amount of time needed to sell it or refinance out of it.

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I don't understand this situation correctly, I don't understand the "Investor" being in 1st position part. If he's an "investor" AND a partner, what makes him to be number 1 as a 50/50 partner??

Because I don't know of 1 hard money lender who would gladly take 2nd lien position putting up 90% of the cash.

And lastly, conventional lenders don't like flips, at all. Don't even ask.

Good Luck!

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Originally posted by @Justin Kane:

lol @Ryan Naylor that website looks shady as hell lol, i dont know will have to do more research on them

Really?

Alright then, I didn't mind it. but it definitely has to be something your comfortable with.

Good luck to you!!

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All Forum Posts by: Ryan Naylor

Ryan Naylor has started 2 posts and replied 72 times.

Post: How to BRRRR a 30k house?

Post: Listsource no longers works in Idaho. Any other similar sites?

Post: Please BRRRR Responsibly

Post: Morris Invest Live Stream Apology Excuses

Post: What happens if I fail to pay the mortgage for my property

Post: Using Hard Money with Private Money - How Can This Work?

Post: Where to live near Salt Lake City, without the smog inversion

Post: Using Hard Money with Private Money - How Can This Work?

Post: Using Hard Money with Private Money - How Can This Work?

Post: Cash out refi or HELOC