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All Forum Posts by: Upen Mody

Upen Mody has started 18 posts and replied 44 times.

Post: Sick of Wholesalers!!!

Upen ModyPosted
  • Pompano Beach, FL
  • Posts 44
  • Votes 3

@Phil Scheiris  I honestly find that you are drawing far fetched conclusions in your post.

Attitude -- It’s a big leap to say my attitude is “piss poor”. Calling a spade a spade is not poor attitude. Recommended approach would be not draw personality conclusions and stick to the topic.

Use of blogs/forums to vent their problems -- I don’t know what your experiences has been in the past with forums. In this specific case, I shared a problem and asked for suggestions, not pity. These types of forums are built to share challenges and seek recommendations.

Condemning a whole group -- Certainly not doing that, in fact I have a couple of very good friends that are great wholesalers and work really hard. But then there are a significant number of other ones that are short sighted, trying to make a quick buck at any cost and giving the broader group a bad name. Maybe the gurus are the ones that are polluting the community with $995 courses for bird dogs and wholesalers.

Ignore the bad wholesalers -- How exactly to do that? Generally the wholesalers seem to forward deals from other people, so it’s almost impossible for me to figure out who really has the deal!!

I think a more helpful approach would be to offer solutions instead of suggesting to ignore the issue and reality. 

Post: Sick of Wholesalers!!!

Upen ModyPosted
  • Pompano Beach, FL
  • Posts 44
  • Votes 3

I am tired of wholesalers that exaggerate ARV in their listings. Living in South Florida, I feel like pretty much all of them put unrealistic ARV in their emails as there is no accountability. Should I not expect any ethics in this business? Where are the good wholesalers in South Florida??

I'm interested in thoughts on how to deal with this? Should I just ignore the wholesalers and find other channels?

Upen

Post: Finance

Upen ModyPosted
  • Pompano Beach, FL
  • Posts 44
  • Votes 3

There are a number of hard money lenders but obviously the rate will be pretty steep. How much are you looking for?

Post: Finance

Upen ModyPosted
  • Pompano Beach, FL
  • Posts 44
  • Votes 3

Used asset based lenders instead of income based. You will have to pay higher APR and points!!

I wish the 7 day timeframe was applicable for all the applicants...not just active service member. In this day and age, there is no reason an application eval should take more than 7 days. 

interesting. Some of the HOA's drag it for 3-4 weeks so this will be awesome. Can you post a link to the article?

Post: Help Needed From EXPERIENCED NOTE INVESTORS PLZZZZ!!!!

Upen ModyPosted
  • Pompano Beach, FL
  • Posts 44
  • Votes 3

Just curios to know...that is the significance of first mortgage being twice the size of second?

@Mike H. where are you buying these houses?

@Jay Hinrichs is there any additional/different documentation required for a loan to a LLC commercial property compared to loan to a LLC on a residential property?

@Jay Hinrichs what is the commercial building is a restaurant that can be used by other tenants?