All Forum Posts by: David Begley

@Delon Hall  You have a better chance in catching a Unicorn Delon.  

@Will Barnard God, how I hate liars too!  I think I'd ask for a meeting with the owner & broker and show up with a stack of 68 letters addressed to every single tenant in that building.  I would show the owner & broker a sample letter that states something like "...the resident needs to be aware of the fresh water and sewer line "issue" connecting the chiller and boiler and that recent repairs were done by unlicensed contractors, without city permits or approvals and, as a concerned citizen, I could not in good conscience stay silent about such a grave risk to the tenants health...." 

I'd then let the owner know he can buy those letters from you (coincidentally for EMD + Costs) or you can drop them in the mailbox on the way out, and see them in court. Their choice.

@Bryan Johns  Welcome to the site Bryan.  I admittedly have a distinct bias against wholesaling, so I would first suggest if you do go that route you do a lot of advance homework and due diligence before embarking on that niche.  I say that because there are so many Wholesalers that haven't a clue as to what they are doing, but have been told by snake oil salesmen that it is a way to quick riches without investing any of your own money. That BS is why there's probably 50 bad wholesalers for every good one out there. Be careful.

I am in Atlanta but am working on a syndication to develop mixed use and multi-family properties in Nashville and have done quite a bit of research in Nashville.  The Nashville market is red hot right now and will continue to be for a few years.  

If I were you, I would do my research to see where the thousands of music industry folks that are being priced out of The Gulch and Music Row are starting to migrate to find affordable living.  That will be the next "cool" place in Nashville, and you can still pick up single family, duplexes, tri-plexes that are affordable.  My educated guess is that Wedgewood-Houston area or "The Nations" area will be in the path of progress.  Start buying houses in those areas to rehab and rent or rehab and sell. 

I'll contact you after baseball season during one of my Nashville trips, and we can grab lunch and chat.

Good luck!

@Andresa Guidelli  @Bryan Hancock would be an excellent resource and I have sent you an email as well.

Good Luck!

David 

@John Pruner , you are most certainly a bigger man than me. I wasn't even going to respond until I read your last post;  but if I was in your shoes, I think I would've gone mental on Andy by now.  You are receiving good advice from all, and I can especially tell you how helpful and knowledgeable @Rick Baggenstoss is - he probably doesn't remember me or know this, but he saved me from another unscrupulous guy on BP that preyed on Newbies and I'm sure he saved me a lot of $$.  Also, I've recently had the good opportunity to meet and talk to @Monty Alston and although we weren't able to do business this time, I don't believe you'll find a more honest, high integrity person in this business than Monty.

All that to say, you have resources and colleagues on BP to fall back on.  Use them and get out of this mess!  My business partner is a real estate attorney and investor, and if there is anything we can help you with, please send me a PM.  Good Luck! 

@Ryan Dossey  Good call on the neck tattoo!  I've heard that if you put your ear real close to someone's neck tattoo, you can actually hear the unemployment line.  

Good luck to you! 

@Lisa Pope Welcome neighbor!  

@Tom Yung If I painted a clear picture, it was because I had an excellent teacher/mentor that was very patient in explaining the process to me.  Thanks for being that teacher/mentor Tom!  

@Darron Stewart   I performed the necessary due diligence on the company when analyzing the best route to take with the tax deeds I owned, and I can tell you they are legit.  They come highly recommended in those states where they've been operating for a while.  However, the concept is new in many states they now operate, including Georgia, and it will take time before the "Certification Certificate" becomes more widely accepted as an alternative to judicial quiet title action.  

@Ben Stoodley It does appear that your rates and terms are what I'd consider acceptable, if your points/loan origination fees are likewise reasonable. So, the big question,what is the maximum points/fees charged for a 6-month loan with a 65% LTV? It's always a big red flag to me when one advertises most all terms, but glaringly omits the one or two key terms that may keep a potential borrower from picking up the phone. So, as Paul Harvey would say, what's the rest of the story? (and do you lend in Georgia?)