All Forum Posts by: Dean Letfus

Until you have more experience and a team around you why not focus on assets that are already leased up and rehabbed. This is 90% of what I deal with, no rehab required. The contractor issue is such a nightmare I avoid it as much as possible.
And flipping is easier as there are no surprises. You can show current pictures, you already have rent amounts and leases. It's safer, faster and just as profitable.

Amen to that Chris, especially here, those C grade areas are scary :-)

The funniest part of the show is the huge "PROFIT" numbers quoted. Until they actually sell it is just garbage. It is hard to believe they could be so emotional about how they buy.
As to buying sight unseen I do that everyday but I assume 10K inside into my buy price and I drive by before offering.
One would have to assume the show is total staged television.

I just closed an owner finance deal this week Melodee where I made the finance the not negotiable. I paid their asking price, ($289,000), but got a 30 year note at 1.7% from the seller so the cash-flow is great. My actual terms were 1% above CD rates and .7 was the highest they could find.
So don;t be afraid to drive the rate down in exchange for paying a bit more. If you spreadsheet it the finance rate is often more important than the purchase price in my opinion.

I assume your question relates to wanting to supply them with houses. I work with 2 large funds in memphis and you don't need to get to the fund, you only need to find the company they partner with in your city. This will usually be one of the larger more professionally run acquisition and management companies.
I don't know about all hedge funds but the ones I work with are buying a mix of cash-flow and capital growth with very strict rules. One of my funds is doing so well they are ramping up in 2013 after closing 500 homes in 5 months in 2012. Their results are far better than budgeted so the goal is 1500 for this year.
Anyway find the partner company and you will have the sales channel, you don;t need to get to the actual fund, you just want their checks right? :-)

4/2, rented and fully rehabbed with fridge, dishwasher etc.
Make me an offer. We are only exiting to focus more on Memphis.

7623 West Osborn Road, Phoenix, Arizona 85033
Currently under rented at $790.

Email or phone Dean 901 264 8674

We have decided to exit Atlanta to focus on Memphis more so have a 1/1 a side duplex rented for $450 a side, both sides leased for sale.
Not sure on etiquette on forum but email me [email protected] if you're interested or ring me 901 264 8674

Make me an offer: Address is 1620 Woodberry Ave, Atlanta, GA 30344

I help clients invest in the USA from around the world and we always use LLC's in states where they can't be easily attacked. In Tennessee for example it is very difficult to pierce the veil unless it can be shown you were mixing personal and business activities in the LLC.
I also make sure the house insurance has at least a million in PI cover and make sure the client is added to the PM's insurance cover which is 5 million.

Usual rule is get rid of the highest interest rate debt first and use the savings to pay down the next one

Interested in what you guys do when you get offered a packet of properties, let's say 20 homes and 4 or 5 of them are houses you don't want and would never buy but the n umbers overall mean you can afford to take them. In many cases they are uninhabitable or in blight areas that will never rent. So does anybody have any idea how to get rid of them, even for free!