All Forum Posts by: Shawn Roberson

@Jeff GroudanI took over a mortgage sub 2 and deeded in trust. I am now selling it seller finance(wrap). Being that I am now deeding my trust to the new owner should I create another trust and name them the beneficiary or just use their name. Also are you using your personal name, entity, or a trust for the note you are creating and what type of deed are you using for the new buyer ( quit claim, special, or warranty deed). Thanks for your help.

If your working with a hard money lender in your area some of these steps can be skipped. Key is building a relationship. The only time I have ever hired an inspector was for my advantage for a price reduction on a offer that was accepted. 1000 is the most I will do for earnest money. Never done an appraisal only my end buyer getting a loan. I know my ARV'S. I never have put money down in escrow for construction cost ( would that be for new contsruction or rehab)

@Account Closed What things are you doing to market or find private lenders not hardmoney ?

Thanks

Wholesaling got me where I am today. It was my stomping ground to success. I was always upfront with what I was doing. The main thing is letting your client know how you make your money. Most wholesale deals Realtors can't touch due to condition and that's when you get involved. It's all about your verbage. Your not the cash buyer but you are in connection with cash buyers that have cash and can close quickly because  you built a data base of cash buyer.Take the pressure off you and make sure you interview your cash buyer and they are ok with a wholesale fee. If your numbers make sense  there is no reason you should make no less then $2500 on a wholesale deal. I did this for a few years while working a full time job with 3 kids. If I can help just let me know.

@James Melton, I am an experienced investor in Chattanooga,TN looking do to some deals in the Atlanta area. I have some investor friends that I am in connection with there. What are your fees and % for funding.

@Tuba Warden Congratulations on your first deal. Many more to come. Me and my wife do rehabs in East Brainerd and if there is anyway we can help just let me know. Do you come to the local REIA ?

@Nathan Murray, there lending section is mostly hard money individuals  and companies who market hard money. I called a lot of them and you will find out that they are area specific. They will advertise they lend all over but then say only in their market. It's recommended that you call all of them when you have a deal in place or they will blow you off. If your new expect high rates or they will ask for 50/50 splits. I ended up not using any at all and found many local lenders with better rates and terms in my area. Give it a try. You never know. 

@Orion Goe, All projects are in Chattanooga TN, mainly the 37421 zip code. We buy and resell. 

@Orion Goe, All projects are in Chattanooga TN, mainly the 37421 zip code. We buy and resell. 

Hello,

@Josh Sicotte and @Thomas Kulinski Me and my wife invest in Chattanooga, TN  doing rehabs and the spreads are great. How is it in Cali and Knoxville ?