All Forum Posts by: Timothy Franklin

Hi Mike, happy to connect and help out. Can you give a more precise idea of your buy box? We have leads in multiple markets but are happy to pull more and work to suit your needs also.

We are a new business with a large (quantity) of rehab projects. Competition isn't too fierce where we are so we are looking to wholesale to other investors (in various markets) to help fund our rehab projects. We have leads in multiple markets and are willing to pull and work leads for other markets to help maintain a low leverage. We do require transparency and accountability and provide the same. (Yes this will mean NDA/NCA) If you are interested and are serious let's connect.

**Transparency: This is a repost as this is considered self promotion and was previously posted under the wholesaling thread. We offer our apologies for using the incorrect thread.

Ok. So B2C is out, but perhaps B2B might be an option (e.g providing a streamlined solution for all of the major mortgage servicing companies for collection of payments. One system one login, multiple providers using the same platform. I come from and operate out of B2B anyway so that just makes it easier to create, sell, and scale.

This thread makes me wonder if this is a big enough problem that it would be worthwhile addressing? I could easily train virtual assistants to handle these payments and have an app created for encrypting sensitive data for facilitating the transactions through financial service partners from my main line of business. The question is would you or other investors be interested in paying for a service that facilitates all of these payments on your behalf so you don't have to worry about the hits to the credit or the change of servicer?

We have some deals flow coming through in the Atlanta area. Shoot an email over to [email protected]

Thanks Patrick, that would be great. I'm going to do some research on the meetups in the area and will check them out. Hopefully by then I will have at least a couple wholesales under my belt.

Hi Justin, I am new to real estate so please take my advice with a pinch of salt.  Based on the information you've provided it seems like you might be targeting the wrong type of deal flow for your budget/risk-tolerance/area. If I were in your position I would seek a tourniquet. Identify the biggest losses and cut those with as minimal a loss as you can. I made a similiar mistake in business, paying $1.1M upfront for promises and had no way to cut losses when those promises were not delivered on. Depending on your leverage you may be able to pull some capital out and minimize losses so that you can refocus and get back in where and when it makes more sense. Everyone talks about how you have to be able to act quickly in real estate but very few talk about cutting off a hemorrhage. Everyone has (or will) lost money. The successful are just good at cutting losses early.

Hi Quentin, I am new myself, but I understand the position you are in. Since you have 10k liquid, I would reach out to other investors in the area and see if they might need private lending for earnest money deposits until you are ready to buy your first property. This could let you start building relationships with others in your area (and potentially lead to joint ventures later) and to build up your working capital. You could consider wholesale also (but personally I hate those calls and the run around). I am happy to connect and bounce ideas and share info as we both grow, if you like. 

Thanks Patrick, I will definitely check out the meetups, but I suspected there would be a history requirement but I know everyone's journey is a bit different.  Currently I have about $1M sunk into a previous business venture, so I expected I would have to pull some equity out but wanted to explore all options first. I have been battling with the credit bureaus for 15 years between 2 divorces, and multiple incidents of identity theft (the untold effect of military service). I appreciate your response and hopefully we will get a chance for an in-person at one of the meetups.

Hi Patrick,

I am looking to identify hard money lenders and private money lenders, as well as seeking advice on how to begin funding the first few deals we take on (or if we should even use outside capital initially) My personal credit has been a 15 year battle (due to 2 divorces, multiple identity theft incidents, and most recently a breach of contract dispute with a creditor (they want me to keep paying them but not provide agreed upon services). I thought it best to build these relationships early with smaller deals and scale up rather than come out of nowhere with a larger request later (after using solely personal capital on dealflow).