All Forum Posts by: Samuel Barton

Sounds like a prorated tenant expense to me . . . 

If you are in Alexandria, VA google for a guy by the name of Joe Arlt. He has a large network up there. There most certainly is someone that knows property managers amongst other things.

If you have the property for a severely discounted price, then the seller has a high level of motivation.  I doubt that you renegotiating the closing company will sour the deal for the seller.  Even if it does, reach out to the closing company to see if they are investor friendly, and do the deal. 

You've got to attempt for the MAO formula of 70%-repairs. If you have to offer higher than that, ask for owner financing that is cheaper money than private money or the opportunity cost of using your own money.

Absentee investing from another country?  Sounds like you have a decent amount of capital.  I'll gladly line up some properties for you.  Invest in the down and up markets.  Do not make yourself one-dimensional.  That was the number one mistake from investors in 2008.  Based off of all the different strategies that there are in investing in Real Estate, anything can be turned into a dollar.

Hey Troy! I would say just keep doing what you are doing! I would say the only other way for you to increase ROI is to do a few sub-to deals, wrap them, and sell them with owner financing!

Hey everyone! I am an investor in the Bell County market. There are multiple foreclosures every month, multiple REO's, and easy rent times because of the military! Come to Killeen for those kinds of deals! I am constantly picking up 40k and 50k deals that are worth 95k-100k!

Hey Ericka! I would recommend that you don't go to the banks for REO's. I have spent countless hours on the phone with banks, and no deals from it to speak of. I would team up with a few realtors in the area that list REO's. It has worked very well for me in Killeen, and they are always more cooperative with both sides of the commission. You are in Dallas!? I am in Austin! I may have a team of investors up there to point you in the right direction.

Good Luck!

There is always a way around it. 

Educate your realtor, or find another realtor.

Educate your attorney, or find another attorney.

Educate your title company, or find another title company.

Go to your local investor meetups, network with the heavy hitters, and use there referrals for all of the above.

Hey Nicole!

This does sound like a rough situation! The buyer most certainly needs to shop around for other lenders if you do not go the seller financing route.

Does the buyer qualify for VA? FHA?

If you do own the property, I would always recommend seller financing.  Get that amortized interest working for you to generate long term mailbox money :).  If you aren't open to that, you can always sell your note.

You will basically be wrapping the first mortgage with a mortgage that you create.  Look up wrapping a mortgage.  I love Wraps.  Or, if there is not any equity in the property, you can use the AMPS strategy to pocket the down payment and have them continue paying the note for you.  Look up mortgage assignment. Either way, I'd recommend a loan servicing company so that you can continue on to the next deal.

I hope this helps!

Sam