All Forum Posts by: Account Closed

It is a bit like wholesaling, except at the very bottom of the REI food chain. You find good deals and sell information on how to get in contact with the owner of the property for money. Unlike wholesaling, you don't actually have the property under contract or make an offer. This is what I know of it at the moment.

 I'm also new, but from what I've heard, bird dogging is looked upon with a bit of disdain.

Sounds like you're having a rough time. Can you provide some numbers, the purchase price or appraisal, repair estimate... And the ARV. If you can pay upfront with a 100% loan from a HML, you can lock up the deal faster and get to rehabbing and selling faster as well. But it all depends on how you want to approach it.

HML are there to ensure that they make good returns. A lower ARV appraisal from them won't change what they gain. I would try to instead find another appraisal, if money isn't too tight, and try to work it out from there.

Kaplan Real Estate for the 2 courses and the additional BRE. Then take a two day prep class for the license exam.

HML can do nationwide funding with wire transfers. Can you elaborate on the appraisal. Are they saying that they don't want the loaned money to be used for appraisal? Also are you doing a buy and rent for the multi family or rehab? What are the terms for the loan and the interest and time?

There are many different kinds of real estate investments. The one that you seem interested in, is buying and holding. Being a landlord.

THE first step would be to read this: http://www.biggerpockets.com/real-estate-investing

Second step would be to learn what sort of niche you want to specialize in (but this step is redundant as it is covered in the guide linked above)

Don't jump into investing your savings. There are a loooot of different ways to make a profit in RE. Make sure you arm yourself with some knowledge before going in. Going to a real estate club like Paul mentioned is a good place to start for that. Maybe even grab a partner so you can split the liabilities. 

Don't humor him. Tell him the facts, show him the comps. Then tell him your offer, leave him your business card, and leave. Then use the time you may have wasted by finding better leads. 

Go for the trust over the wet double close. It is a cleaner and easier process.

http://www.biggerpockets.com/forums/12/topics/1211...

This old post has lots of helpful responses. Read through them, it might give you a good idea of what to expect in a live in flip.

I asked somebody who knows a bit about getting cash while the capitals are tied up in assets. This is what he said.

The refinance can be done, you do not need to quick claim the deed to your personal name, as most of loan or refinance in this case will be done with personal guarantor (you).

There are other options, you can simply go to regular bank and get a home equity line of credit or go to soft/hard money lenders to get quick refinance against the equity of your house.