All Forum Posts by: Terry Beall

Hi to everyone, been absent for awhile, but still networking.  I just wanted to say I am learning everyday.  I have joined Pace Morby's creative financing mentorship and he has not let anybody down in that sphere!  I am so glad that I have met Pace and the wonderful people squading up with their deals and the help that is extended to each other.  Creative financing is a "must" to have in your tool box.  I would love Brandon to have him on one of his webinars he gives, that would be explosive with so much valuable information that Brandon and Pace would provide.  Just my two cents worth.

Pace is great!  He is so genuine. Not like all those other products out there to help people learn for lots of $$$ and then leave you!  I would highly recommend his mentorship program.  He is Number 1!!!!!

Wow Charles, that sounds extremely interesting.  But I am not a licensed auctioneer, which I guess I need to be?  Nice input :)

Hello William D., yes  my company does lease options/rent to own.  Since I do not know the "lay of the land" in Baltimore,  I work in the Frederick, Washington counties.  Could work  Montg. cty, but different.  I, too, am a realtor in Maryland

Yes, MD will require you to pay all back fees.  Is it really worth it??  Good luck

I agree with you Shaun.  If there was a misrepresentation on their application, you don't need to accept their lease.  Do what Shaun said!

Thank you Ken!  Yes, you are right.  I was thinking that the sellers want to sell but have low equity but eventually want it sold to get rid of it.  And yes, Maryland is quite expensive.  Take care, have a great week!

Is anybody doing lease with option to buy strategy in the Maryland area for buying and selling real estate.  I know the concept, but never used it before.  I am a licensed realtor and investor.  The sellers and buyers must be REALLY motivated.  Are sellers really eager to do this strategy.    I'm thinking "no" but just checking.  Thank you for any input!

I think you could do better on a hard money loan somewhere else!  I am familiar with them and found that they are not that helpful.  Good luck,

Good luck!  I haven't completed a rehab in Md. however, in CA., there doesn't seem to be a problem to get a contractor who will work, getting paid usually on Fridays, once he hits the milestones that both you and the contractor have set up prior to work being performed. 

I have a complete scope of work, so all he has to do is focus on his work, and not think about material selections.  I give them the SKU nos., what it is, and where it is to be purchased.  I know up front what it should cost with materials and labor before I ask for bids, that way I can see how "their" costs are compared to mine.

I have them sign my contract and several other forms prior to the start of work, along with asking for references, and seeing what they are working on currently and past projects they have done.  How long in business, do they have a crew, how many projects have they worked on in the last 12 months, do they have their own equipment, do they work with sub-contractors, are they licensed, need to know that they have insurance, workmens comp, etc.

Investors are looking for the bottom line and best prices, of course, so there is money in the deal.  But what we bring to the table is constant work for that contractor so he doesn't have lean months where Harry Homeowner doesn't have any jobs for that contractor and no income is coming in for him that month.

Go to the bldg. permit dept., they can't "recommend" a person, but you can tell them what you are looking to accomplish and find out who is doing a lot of work by the permits and they will be more open to you.  Also at the supply houses, they know who is regularly picking up materials for projects.

Again, Good Luck, the contractor can make your deal go down the drain or not.