All Forum Posts by: William Naber

A lot a great questions here. If you are going the traditional financing route with a bank expect 20-25% down. If you are going to fix and flip then the most you can finance is about 75%LTV with no experience. No money down deals require some pretty solid relationships or giving up a chunk of equity.

3. I'm not sure what you mean here.  What you are describing is essentially a double close.  I don't know any investors that would give you money to buy a property with an unknown sale timeline with no value add.  How is my investment secured?

4. I would recommend your contract ALWAYS have an assignment clause IF you are wholesaling.  The exception is states where you must disclose that you are wholesaling or in states where wholesaling requires a real estate license.  In those cases double close.

I have some solid contracts that can show you. I am also an investor and can help you find funding for EMD and double closes. PM me if you want to chat more.

Hey David.  I know a bunch of wholesalers in Southern Cal.  DM me your buy criteria and I'll hook you up.

Hey Saab.  I know a bunch of legit wholesalers.  I would love you to help you out.  Send me your buy box and I'll help you out.  

Hey Judy.  I know a bunch of wholesalers in Florida.  I am always looking to connect buyers and sellers.  If you send me your buy box and I can send leads your way.  DM me if you are still searching for leads.

@Mitchell Bumgardner I am always looking for end buyers in the KC area. I can help you connect on creative deals to keep your acquisition costs to a minimum. I’m not an agent, just a fellow investor. Let me know if you have a specific buy box and buy criteria.

@Connor Feist I would add, if you want help finding an off market buyer that is familiar with the type of creative finance you want to do let me know.

@Connor Feist due on sale rarely gets called however you can buy an inexpensive insurance policy in case it does get called.

There are plenty of buyers looking for what you are offering. There are a lot of 1099 income people who get declined for regular mortgages because of the nature of their income. They are perfectly safe to sell to.

I am in the process of buying my second property when the insurance agent calls and says that none of the companies they represent will insure my property for replacement cost.  Best they can do is an ACV of 148% of market value. The property I am buying is over 100 years old.  I have been unable to get an insurance company rep give me a straight answer as to what the useful life is of walls or a floor.  Since most claims are for partial loss and my policy is for ACV I have no way of knowing if after depreciation is taken out, what will insurance pay me.  The annual insurance premium for what I can get is just over one months' gross rent.

I am buying the property for $67,500.  Max insured ACV is $100,000.  Replacement cost is $170,000.

Has anyone else navigated a similar situation?  Any advice on an insurance company that will insure replacement cost without taking all my profit?

I recently closed on my first investment property which is an SFR. I am looking for ways to raise enough money for a second property. I purchased my first property through my LLC, since I have enough money in my company 401k and my wife's in home business that we need to protect ourselves. I don't have enough equity in my primary residence to get money through a HELOC. Since we run a clothing business out of our house, moving and house hacking isn't a choice. Since we have other assets to protect, an FHA loan is not a choice.

In my local market I have missed out on a number of deals because other investors are offering full cash deals, paying well under market price and closing in 7-14 days. I feel like I will be stuck investing in mediocre SFR's for quite some time.

Since I am buying through my LLC, the multiple banks I have talked to require 25% down and 20 year term loans.

Any advice?