All Forum Posts by: Sunny Malik

@Steve Vaughan - we used Kiavi for the initial loans and the intention was to sell them but then we decided we wanted to hold onto the properties given their long term potential. 

@Steve 

@Steve Vaughan - appreciate the guidance there! Are there any lenders in particular that you've heard are good to work with on a portfolio loan? Are conventional lenders better or boutiques? How should I think about leverage my stable W2 in the process? 

As for finding the properties, we got them through wholesalers.

Hi BP, 

Over the past year me and my business partner built 3 new homes in the ATL area. My business partner works in real estate full time and I bring most of the money to the table through my high W2 income. 

There are 3 properties (single family homes) that will be hitting the rental market for us in the next few weeks and I wanted to figure out a few financing options given our position. My goal is to try and get the lowest interest + principal payment right now so that we can refinance in 2-5 years once rates come down to a better level. 

None of the properties are rented out right now but we've owned all for almost year as we were completely renovating & building additional units on the land. We work with Kiavi right now but find their long term rental products aren't as competitive as their short term loans. 

Does anyone have any advice on using conventional lender for investment properties, packaging all the properties up together in a portfolio, etc? . All and any advice would be great!

Thanks you in advance for the help! 

Hi, I am selling a property I own. The buyer is asking for an assignment clause.

Do I need to include that and does anyone have a GA real estate agreement they use when selling a home? In short need to say selling ”as is”, closing in 7 days, and $5k earnest money. 

Would love any help since I'm a little new to this side of the process. I have a lawyer, title, and insurance company already lined up. 

Hello BP! 

First post and excited to be a part of the community. 

Quick background: I've lived in the GA market for sometime now and know a few good areas I want to focus my side wholesaling and flipping houses business on. I've already reached out to a ton of different buyers and have a couple that have told me exactly the type of stuff they are looking for. The one thing I need to do now is find these houses. I'm working with a strong real estate agent and have a family contractor that has a full team ready to go. 

But I want to find a deal while creating my own lead generation and eventually become self-sufficient.  So, I thought to invest in a marketing strategy - direct mail. 

We have a full team that we are currently partnering with and marketing is the area we need to improve. I read the beginners guide and am a bit in a lost on how to proceed forward so I thought I'd ask a few folks here and start getting my name out as well. 

Questions

1) I used listsource to create a list based on our target market. We are looking to wholesale and fix/flip. I am focusing on absentees. What's the optimal equity range (ex: 50 - 80, 40-75, etc.) that I should include in my search 

2) I have 400 leads based on our target area. Do you think it would be wise to increase it. Yes I understand this is a numbers game and have the capital to invest up to $3000 into this. But, I know the area we really want to focus our efforts on. 

3) A lead off from the previous question, do you think I should take the 400 leads I have and include probates in the same area and other distressed type of motivated sellers? 

Bonus question: Who has worked for you in the past for outsourcing your mailing? I have a full time job and don't have time to mail this stuff, not worth my time and others can do faster and better. 

Lastly, I have read enough in the forums to have a good sense of the type of messaging to use here and know it takes 6-7 touches sometimes. Hoping we can get 1 transaction out of spending $3k, it would be worth it at that point

I appreciate you helping the new folks here!