All Forum Posts by: Chris Gawlik

Thanks for all your help Nathan ill have to check into the car refi. I really appreciate the quick reply's Nathan and am planning on really deeply analyzing this deal to find out if what I'm doing is correct. Yesterday i had an excellent lunch with some hard money lenders and one of them is going to mentor me. These guys play a much bigger game than i am playing now and i would like to get involved. So i have started my journey and I'm not stopping until i reach financial independence. Good luck with your investing and ill talk to you guys soon.

I've never heard of being able to refinance a car that's insane. I'm learning something new every day, that's a great idea. I own both of my vehicles one is a 2005 Honda pilot and one is a 2010 Toyota Carola. I wonder how long they let you borrow that kind of money at 3%? The terms of the financing? Also is it safe, i hear about credit card company's jacking up interest rates after you sign for loans these days but...

I still have around 60,000 liquid cash as well, but need to save as much of the cash as i can for other deals/flips. I also have my first flip in process out in Apple Valley CA. Ive been hitting this hard for about a month and a half and am nervous and excited!! For my first flip i think i got really lucky its going great so far.

Nathan could you explain to me how cashing in on the equity from the cars that i own or any other cash i could get my hands on could help me move in to a conventional commercial loan. Why would that help me get the commercial loan? Why would that help me rifi the hard money faster? $135 dollars a month is quit a bit of cash after 30 years. Thank you very much for the info Nathan.

You dont have to many post here you must have just started on bigger pockets just like me. Are you investing in buy and holds or flips? Were are you investing? Talk to you soon.

We did try to owner finance and its no good he needs to buy another house closer to his daughter. I just talked to the hard money lender and they have a couple different types of buy and hold loans available for around 8 percent which sounds pretty close to the going rate to me but i haven't shopped around yet.

I was thinking of going conventional but hate to go through the hassle and long process of it. My credit is excellent but i have a house payment of my own and my income has been a little off lately because I'm spending a lot of time working on my real estate investing. I'm a black jack dealer and we can leave early every night if we want, but you don't make any tips if you do that.
Any way were going to check out the additional units tomorrow and I'm going to take a vid of the property. Maybe i can post it, and if that's not allowed maybe i could pm someone and they could tell me more. Thanks for all your help guys, Thanks Nathan appreciate the quick reply's.

I should have explained my financing situation in more detail. I'm really short on cash because of other deals that I'm doing so I'm going to have to use hard money for the purchase and refinance later. I wasn't thinking about the financing aspect of this from the first post sorry about that. The owner is moving out so his unit will be rented as well. Still the same figures of about $3000 a month. I'm not putting down 100k for this deal. i think 25k is what the lender requires. as for the 11% owner financing it sounds like i should just add that to the hard money loan which i will probably do. I guess what my real question should have been was is this a deal or not. Sounds like from what Nathan Emmert said it doesn't seem to be that great of a buy and hold deal. A 6 unit with 12 bed and 6 bath for 135k sounded like a great deal to me but keep in mind I'm very new. Thanks for the reply's every one.

I am investing in desert hot springs and the surrounding areas. I could actually use some advice on a property that we just opened escrow on. Its in Desert Hot Springs and I'm not very familiar with that area. I was thinking of using it for section 8 housing but am very new to investing and this building is not a straight up 6 unit. Its zoned residential and there are 6 separate units but not all of them have there own kitchen some have sort of a kitchenette. So twelve bed rooms total and I'm pretty sure 6 baths. Can any one give me any tips on owning rentals in a not a totally ghetto area, but i guess i could say a little run down. Desert Hot Springs in also know as the arm pit of the desert lol so...Are section eight requirements very strict does each unit have to have its own legitimate kitchen to use the place for section eight. Any advice would be helpful this is my first rental. The owner lives in one of the units and the total rent that comes in from the other 5 units is 2300 so if you count his i think it can bring in 3000 or so this is not net rent. We haven't even inspected the property yet so i really need to analyze this deal, but like i said i am very new. Were picking it up for 135k hes going to carry 35 k for interest only payments at 11% with an 18 month balloon. I'm giving him 100k cash. I could also use some help on a net rent formula, thanks for your time.

I just learned how to retrieve the data at the hall of records. I have learned the basics of it and now that I am able to develop an NOD list, what are some strategies that can land me a deal once I have the address of the NOD. Obviously I know about mailers, call them, door knocking and all. Even though i know about ways to reach your target market I have never actually done it, and i know the devil is in the details. So what I'm searching for is an investor who uses these NOD lists on a regular basis, and if its a good way to land some deals. Any advice on the subject would be appreciated. Thanks for your time.

Hello every one I'm very new the the real estate investing world. I was wondering how to start a direct mail campaign. I was going to start looking for off market single family in several inland empire areas of southern CA. I think what I'm really looking for is the type of wording I need on the letters. I want good qualified calls. So with the wording in the mailer I was going to just straight out say that I was an investor looking for deals and could make a quick cash offer. If they were looking for full price or looking to go with a realtor not to call me. Is this a good idea or am i just being to straight forward. Any advice on wording with mailers that have worked for you would really help me out. Also if you know of any good articles or blogs about mail campaigns i would really appreciate it thnx for your time.

Thanks for all your reply's, I'm going to buy a bulk of books from amazon today. It was a coincidence that you read my post and messaged me Aron Mazzrillo, i was planning on attending you next meeting ill see you there. I think my biggest problem is were to start looking for the properties and how. My other problem is the fear that i need to get over and push my self to get started. Thanks for your time every one, I'm looking forward to speaking with more of you and making some contacts, reading and posting with fellow investors. Good luck to all with your investments thanks again ttyl.

Thank BryanA for the quick reply. I was looking for more along the lines of a house flipping bible, just kidding. No I'm just starting out here in southern ca, have like 70g saved to start with and am trying to soak up as much knowledge as possible. I guess i should be reading this site regularly and will start doing so. I read at the bottom of your post you just closed a 14 unit that's really impressive and sounds very exiting. How long did it take you to get your business to that level.

Does any one know of any good books on flipping houses. Or any good books about investing in real estate.There are so many to wade through. Just wondering if any one knew of a book or two that helped them invest/flip or even buy and hold. I'm looking for books more current with today's market and not ideas about why you should invest like rich dad poor dad, but more along the line of examples of how to do it with more concrete details. Thnx for your time.