All Forum Posts by: Taylor Jennings

@Ben Leybovich Thank you for elaborating. The first comment was a little harsh ha but I understand what you are saying. Fortunately I have people in a few of those areas that know I don't know the vernacular, but are willing to help educate me.

@Bill Gulley I appreciate you elaborating.

@Trent Currie I will be managing the properties myself for the experience.

To All,

Seller Financing is no longer an option. The seller wants CASH ha Imagine that.

I have around $200k in private money which can take care of all the repairs, but now I have to figure out a way to get another ~$500k. I've got a couple of meetings this week to raise that portion.

I'll have numbers on rehab by Tuesday. I'll share the breakdown once I get them.

@Kerry Edwards I won't be able to attend this evening, but I look forward to meeting you!

@Joel Owens @Brian P. Thank you so much for your replies!

Good news. The judgments were taken care of in a previous sale the owner made and I am closing on the house today =)

"Plans fail for lack of counsel, but with many advisers they succeed."

If I was doing this deal by myself Ben then I would agree with your statement =)

1) I'll have an offer price once I get back my rehab estimates which may be in the next couple of days or by Monday. For now lets say I'm buying the houses Turnkey for $846,150.

2) Monthly gross rental income if all the units are rented is $15,147

3) Properties are owned free and clear

Thanks for asking the questions.

REF 13030-P1

The seller wants to unload (34) houses and (5) parcels of land.

The seller owns the properties free and clear.

I don't have the money to buy all these and then fix them all up... But I do have a private lender who can fund the rehabs.

MY PLAN:

1) Wholesale (14) Houses

2) Use Seller Financing for (12) so I can fix and flip them

3) Use Seller Financing for (8) Rentals then Refi out or use the money from the flips to pay the seller off

4) I'll buy the (5) parcels outright and build houses (if allowed) after the flips (I'm partnering 50/50 with a builder)

MY QUESTIONS:

A) What terms should I offer / how do I structure a win win for both the seller and myself?

B) What are some things I should mention/offer to entice the seller to structure the deal this way? (ie Reduce capital gains since he is receiving money for wholesale houses, increase the amount I can purchase house for, etc)

Thanks! Your expertise are greatly appreciated!

I can see this feeling continuing with every deal I'm sure... Will this increase your life span or decrease? ha

Hey @David Moore the meetup went really well =) We had ten people attend and I did a presentation on what techniques I use in wholesaling.

The group gave ideas and spoke about some of their strategies as well.

We answered a handful of questions too!

I don't believe that I have your email? Send me an email so I can get you in the loop.

Here is a link to my presentation > http://bit.ly/1b5EBry

Also my investor map for Indy > http://bit.ly/1brQhqx

[email protected]

Here you go @Shawn Ironmonger

https://drive.google.com/file/d/0B-SeVvpM7tGIYjAzeGlNWEYzZzQ/edit?usp=sharing

I should be closing on my first deal this monday or tuesday and I am freaking out! How exciting.

Do you remember your first deal (I'm sure you do!).

What was it like and what other deals have you just about jumped out of your socks on?