All Forum Posts by: Xavier Randall

@James Wise

What's the minimum FICO needed for the financing you stated?

The properties have current leases...correct?

Hi mike-

I was just reading the KC was on this list of areas in the country with the highest rental returns. My wife & I are looking to build a rental portfolio. I'd like to no more about this opportunity. Do you need me to sign a NDA?

@GioVanni Gibbs

Born and raised in Macon GA.

Please email email the list of Marcon GA properties.

[email protected]

@Jason Carr

 i just emailed you the package on the 7 Unit in Lancaster, CA. I hope to hear back from you.

@Jason Carr

 I have an Assignment opportunity on a 7 unit in Lancaster. We UW very heavily and even with our numbers it's a 9+ Cap. Let me know if you would be interested.

@James BynumThe first thing I would do is pay off debt. Making $40K a year without debt makes a huge difference in financial freedom. Then I would find a knowledgeable realtor in your area that has experience in Single Family & income property. I solid way to do both initially is to find a triplex or quadruplex that has a standalone home in the front and the rentals in the back or on a separate parcel. This way you can accomplish both while qualifying for an Owner Occupied loan. Once you surpass 4 units you enter the commercial property arena.

@Walter DavisAre you acquiring for yourself or for investors?

@Chris Viola-

@Lisa Kohl is on the money. The whole structure of the foreclosure sale and what is a clear REO has changed. Also...READ THOSE AUCTION CONTRACTS VERY CLOSELY!! A lot of the properties are being offered AS-IS, WHERE IS. Even though you may get a clear title and lot of times you may still outstanding municipality violations or issues. Also...here's another tid bit...companies like Homevestors, Econohomes & other big companies who offer discounted homes to the individual investors like yourself buy properties from these same auction houses in bulk.

Now...if you can negotiate a short sale on an isolated property then you don't have as much bidding competition (maybe, sometimes). I'd like to talk more. I'm local in Long Beach. Contact me directly.

@Chris Viola: A property becomes an REO (Real Estate Owned) when it does not sale at auction and the ownership is retained by the bank. Are these properties you're looking to invest in?

@Brian Adams

I read your "Quit My Job" post. Question...with long term, fixed rate, commercial financing that's available this days. When do you consider short term financing? What is your response to investor when he asks,"what happens if we can't sell when the short term financing is due?" In your syndication deals, what is your compesation structure....(equity share, acquisition fee, ongoing management fee)? Do you always invest some of your own cash in the deals?