All Forum Posts by: Tina Tsysh

The Feds are definitely not going to show up at your door and you are not likely to go to jail. You can mass text people as long as they are not registered in the National Do Not Call Registry. Any number that is registered on it cannot be a recipient of an organization's mass calls or texts, otherwise you can get reported to the DRE and pay heavy fines. Just do your due diligence before sending the texts. Good luck! 

Congrats on deciding to drive for dollars because that's how you find some of the best deals! 

As far as figuring out the value of a property, you can find what the owner paid for it on any title company's website. You can also call the county's tax assessor where the property is located because that's considered to be public info. If you want to figure out the after repair value, you have to look at comps that have recently sold in the area where the property is located. 

What do you mean by giving away other people addresses?

Hey Gerson congrats on taking action you should be proud of yourself! As far as the hard inquiry goes, I have been told multiple things by different lenders - some say you have you have 45 days and some say you have 14 days. It depends on the model that the lender uses, so it's always recommended to ask your potential lender about how long you have to shop around the loan. Because the last thing that you want is getting a second hard inquiry on your credit report. 

Some of the questions I would ask a lender are:

1. What type of mortgage is best for me

2. What is the maximum home price I can afford 

3. How much down payment is required (can be 3.5%, 5%, 20% etc)

4. What will be my monthly payment and what is the breakdown of it

5. Am I eligible for any down payment assistance programs that you are aware of

6. What is the estimated APR on the loan (remember that your interest rate on the loan is not the same as the cost of the loan)

7. What is the average loan processing time 

8. What fees do you charge 

These are some of the important questions that you will want an answer to. And remember that you are the customer, the bank wants your business. So make sure to use that to your advantage. Good luck! 

I agree with @Corey Hawkinson and definitely recommend doing your due diligence regarding the property's zoning. If the city decides that you can't operate the property as a duplex anymore, no matter how good your returns are, they can be gone instantly. The last thing you want to do is to be stuck in a property that is a total disaster and where you have no cash flow coming in. I am curious as to why it can't be rezoned. 

Termites are very popular in FL, in fact, that's the issue my mom had to deal with when she purchased a home there. I would definitely recommend getting a pest control inspector to inspect the property - it might cost a couple of dollars (shouldn't be more than $100) upfront, but it will save you a lot of headache later on. This article is very helpful on how to spot termite damage in a home. Best of luck! 

Yes, usually the combined commission on a deal is 6% and then the buyer's and seller's agent split it up. However, there is no law that caps real estate commissions. Also remember that it's usually the seller who pays the commission! 

Hey BP Community! I am a new real estate investor looking to learn more about the rehab process / how to estimate costs when walking the property. I would love to attend a few rehab projects / sites and get to know the basics of a rehab process. If you are a house flipper / do rehab work in Southern California please let me know. I have good interior design skills that I can provide to you in exchange for your time! Thank you 😊

Hey BP Community! I am a new real estate investor looking to learn more about the rehab process / how to estimate costs when walking the property. I would love to attend a few rehab projects / sites and get to know the basics of a rehab process. If you are a house flipper / do rehab work in Southern California please let me know. I have good interior design skills that I can provide to you in exchange for your time! Thank you 😊

Hey BP Community! After listening to Brandon's and David's episode with Hakeem Valles, I wanted to learn more about leveraging real estate investing with social media platforms like Tik Tok. Does anyone follow any good tik tokers that talk about real estate investing? 

@James R McDowell yes, usually that's how it works. But not all lenders will loan at the higher value between the purchase price and appraisal, so you have to do some research prior entering into any contract. You might get better luck with local credit unions. It won't be easy but you can do it!