All Forum Posts by: Ty Hines

I would love to hear from anyone that have made changes big or small. There are many looking but a few talking. Any idea might help others.

Here's one- property preservation. If you have experience in rehabs this should be easy.

We all know the saying "dont put all your eggs in one basket". But how many of us actually listen to that advice when it comes to our real estate strategies? When the down turn of the market hit my business suffered large losses which mainly focused on rehab/flips. After picking myself up off of the floor I realized that I had put all my energy into one area of investing whereas I should have had a couple different avenues. I have made the changes and business is improving. One of the best additional services that I offer is marketing services for other investors. Since we have experience in marketing our properties for sale/rent I thought why not offer that service to other investors for a small fee. I

What specific changes have you made to your business to make it more profitable and less likely to suffer in case of changes in the market?

Hi Steven,
Welcome to the community. You will find this site to be one of a kind in that you will find priceless information at NO COST and create meaningful relationships with members that you other wise would not meet.
I also reside in Atlanta and would like to network and discuss how we possibly could work together.

Hello All,
I recently came across a great opportunity that some might be interested in taking advantage of. The company handles everything from acquisition, rehab, lease to section 8 tenants and refinance. This concept in itself is nothing new because there are plenty of companies that offer this type of program.The one thing that this company offers that others do not is the fact that the only UP FRONT MONEY NEEDED IS THE EARNEST MONEY TO THE LISTING BROKER!!

I too thought at first it was some type of scam but I took time and did extensive research on the company and its founders. I went to four meetings, talked with people who actually were buying houses through the program and spoke with the sales people and everyone seemed to be happy and satisfied. The company itself is one year old however the parent company is a residential builder that has been in business for over 5 years, has posted millions in sales and has several positive articles in the AJC and the Atlanta Business Chronicle.

Here are the details:
Middle credit score 650
Debt to income less than 45%
Reserves of $3000 which does NOT have to be sourced or seasoned
Buy up to four properties with this program
Only Earnest money deposit needed to start
Company purchases, rehabs, places section 8 tenant
YOU choose the house
YOU choose to either hold or flip
Refinance done for you
Section 8 paperwork done for you

Finance Details:
Consulting Fee $7500 rolled into loan
Rehab loan - 5 points and 15% rolled into loan
Refinance loan- 5.5 % 30 year fixed
Rehab cost itemized for investor

There are information sessions on Tuesday nights were you can come to the corporate headquarters and meet everyone and see the presentation. Also for out of state investors there are webinars that you can attend online and get more info. Either way contact me so we can talk.

[u][b]NOTE: This program is for Georgia properties ONLY. But ANY investor in ANY STATE can participate.

If you have clients that may be interested we can partner on the deal so everyone makes money.

I think I have answered most questions. Please contact me pm or post questions here for me to answer.

Hi John,
Welcome to the site. As Will mentioned it is well worth the time invested.

Btw- Great deals on blog. You might want to add the address to your signature so others can look at what you have to offer.

I also sent you a colleague request. I am interested in networking and learning more about commercial real estate in Atlanta.

Wow Keith,
That was a great accomplishment. As Josh mentioned there has been nothing but disappointing stories when it comes to bulk REOs. But you made it happen. I live in Atlanta maybe we can network and make some deals happen together.

Also Welcome to BP its an awesome site with some truly awesome people.

Todd,
That list is very informative and organized. Thanks for sharing.

Well L.D hope you got the answers you were looking for.

L.D
I think I might be able to help you a little with your questions.
1) When dealing with REOs you will likely need earnest money in the amount of $500 or more.
2) The banks usually will not pay a finders fee or wholesale fee to anyone. Therefore you will need to use transaction funding which purpose is to provide you with funds to close on the front end. But you must have a buyer in place on the back end. This will ensure that you receive your money.
Will Barnard and Rich Weese provide such funding here on BP.
3) When dealing with FSBO it is much easier to negotiate earnest money.
4)Again when it comes to REOs it wont be easy. But FSBOs anything is possible.
5)This is true with REOs. The banks will require some sort of proof that you have the funds to close available. You should be able to receive this from your transaction lender. But when it comes to FSBOs, if you are a good salesman you should be able to create terms that are favorable to you.
Hopes this helps.

Also there are many articles, blogs and forum post that deal with wholesaling.

Good luck.

This is a funny thread.