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All Forum Posts by: Jeff Smith

Jeff Smith has started 3 posts and replied 17 times.

Awesome thread thanks for sharing, 2k plus in rents off of less then 100k and got refinanced out of it. You crushed it.

I feel like debbie signed some sort of agreement to not mention this companies name again in order for some money back. Randomly never showing her face in this thread after saying "its done" when she still is out 10k+

Post: Restaurant GM and Family Man from Greenville, SC

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2

Welcome, with your wife in Pm i am sure it will be a benefit with the knowledge she has. No better place to be then here.

Just out of curiosity is she in commercial PM or residential?

Post: Found a potential mentor, now what?

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2

Congrats on finding a mentor

Post: How long to paint a room?

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2

When we say "you could get it done in a day", what is a
day"? Are we talking the average 8 hour work day? Are we talking the hours that there are daylight so you can accurately see the paint job and now be influenced by the shading of artifical light? Are we talking the 24 hours in a day?

Post: fannie mae - Can I bid as owner occupier ?

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2
Originally posted by Ann Contorno:
Hey Matthew - The way that it was explained to me by my attorney is that the Fannie/HUD owner occupant question is governed by INTENT. I have purchased owner occupant through HUD before, while I owned other property, and what I have done just to be safe is changed my drivers license and registered to vote in the area. This shows that I INTENDED to live in the property. I never did - I rehabbed it and ended up renting it out.

Also, when you get your loan, if you are financing, do it as an owner occupant loan. It will get you a better rate and will be extra paper trail just in case.

Also bear in mind that I believe you can not bid owner occupant on another Fannie/HUD for two years, so make this one count!

Good luck and let us know what happens!

Registering to vote and changing a drivers license is an intent to occupy a house? Right........Hope that keeps working out well for you.

Post: Can you Wholesale a wholesale deal?

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2
Originally posted by Naga A.:
Aaron Churnick

In that scenario, I would buy the property from Wholesaler A. I do not know if it is principal things, but rather, it is more a trust issue to me.

If I find out a wholesaler tries to make a quick buck off other whosaler's property or from MLS listed property, I would try to skip him and buy from the source, i.e. Wholesaler A or MLS.

Is this some kind of joke or moral victory or something? A deal is a deal. If the numbers work for your business model all you are doing is losing the trust of Wholesaler D who brought you the deal if you try to go around him, yet you say it's a "trust issue". I suppose you don't find it important for your colleagues to trust you, only for you to trust them.

Also, where in this post did you get the idea that you had access to Wholesaler A? Any investor would prefer to get the "goods/item/property" from the "original seller" at the "cheapest price", but at the end of the day that isn't always "realistic" or a "smart idea" if it causes you to burn your bridges. You can't wave your magic wand and have Wholesaler A magically appear infront of you.

I am happy to know there will be more deals out there for other investors due to individuals like you letting your pride get in the way.

Aaron,

I know this does not answer your question specifically but I am going to put it out there anyways. I reside in the Evans, GA/Augusta, GA/Martinez area and have been working on getting into REI as I currently have have my first 2 buy and hold houses under contract and am have been looking for a mentor for numerous months now offering my times/efforts in exchange for their knowledge with no avail. I would be glad to discuss the possibilites of me doing what I can do help you out in this area.

Jeff

Post: First Flip Done!

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2

David,

Amazing flip, looks incredible great work and congrats on the numbers! I had a question reguarding the brick on the face of your house. In the old picture the brick looks dull and the after picture it looks vibrant and attractive and I have seen this multiple times on flips. Did you do anything special to the brick to cause this, or is it just the angle/lighting of the picture?

Thanks

Jeff

Post: Analysis Advice

Jeff SmithPosted
  • Evans, GA
  • Posts 17
  • Votes 2

L Gale

That motto is a tad more then "a few good men line" to over 65,000 people of the past including 2 U.S Presidents, a few "minorly noteworthy individuals" named Jackson, Lee, Custer, Patton, Wainright, Petraeus as well as countless other notable names. But hey, ignorance is bliss .. Right?

And that motto means to them, without their honor, they have nothing.