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where in fllorida are you? I know some hard money guys all over fort lauderdale area. they do some lending over on the west coast also.

ryan

Really the only other way is research. Find out what citys are going to be rebuilding and cleaning up the city. For instance i live in florida and Pompano Beach started putting millions into cleaning up the city new streets, Plants , trees, parks, making the commercial buildings owners update the buildings. Or like Newark NJ they are putting somthing crazy money into the city. But i think you would be better off buying a property for $80k putting $20k into it and then selling it for $150k in a few months.

That is just my 2 cents it would be better to use the money and turn stuff over quick even if you make $25k on your $100k in 1 year.. 2 years $25k each year is your $50k and you might beable to flip more then 1-2 propertys a year. hope i helped

Well in NY also do not forget that as of Feb/07 they have the new bill from the Pataki (spelling?) http://senatorlavalle.com/press_archive_story.asp?id=14651
so just beware also with this there is a letter you will have to have people sign a letter stating that they should consult with a lawyer and more legal jargin and then from there they have 5 business days to cxl the contract... So now you need to buy the house from the person instead of giving the homeowners cash to walk away and QCD the property to you and all the other ways it was done before with taking over the mortgage in NY. i forgot the bill number but you can find in a one of the NYS websites. Hope this helped. Because if you were to get the property from someone with a QCD and others you would be stuck if 5 years later they consult a lawyer they have rights to the property still.

i just did a refi like 3 months ago and i have the cash but i like to have a little money in the bank.. i want to have a little blanket. Plus it is a partnership i live in florida and the other 2 people are in NY well one of them is my dad and i am doing a refi on his property too but we might not have it closed in time. Then my other partner just took a heloc on his place but he used it to pay bills.. haha so hard money would be the best if worse comes to worse then we could get a mortgage on the property. 90% LTV and put a couple grand down.. we are doing a seller consession so the closing cost are tied into the $20k
no money out of pocket is the best way to go!!!

Hey greg,

Selling a house every month is not unrealistic. I have been investing in real estate for a couple of years now and i am a licensed mortgage broker. I just got my real estate license july 31st. In less than a month i am working with a buyer and we have an offer in a property. If you work hard an realize that being a real estate agent is a full time job if you want to make good money in it you will be fine.

Some key points were made already
Find a broker who is going to offer training and learn as much as you can.. i am sure some people will agree with me
"training is a journey not a destination" you just dont train for 2 weeks and know it all.
i feel that you will be training and learning forever in any job, so go to your local board of realtors and if they have some trainings use it make sure your broker has a trainging program. That is gonna be key because they will tell you how to market and what sources to use. At least my broker has. We have our own trainer who trains m-f 9:30-3:30 then the rest of the day he is support for agents and then we have a marketing department who designs all of our flyers and such...

if you have any other questions let me know

Need some hard money in upstate NY... Rochester... I have a few hard money people but they are all in florida... and only 1 will do NY and he is very expensive.. 2 points and 13%... i hope i can find someone who will do like 10% with a baloon payment at the end of a year. Most likley will not need a full year more like 6 months max... thanks

LTV is less then 50%
$20k loan amount.

Thanks
Ryan

I know american brokers condiut is a lender that will fund.. they are an A lender and seasoning does not matter. www.Abconduit.com they are a wholesale lender... hope this helps if the people are in florida i can do the loan.

ryan

Hello everybody!

I have dabbled in some real estate investing for the last few years and since then i have become a licensed mortagage broker and a licesed Real estate sales assoicate! i have my own site www.yourrealestateguru.com
I am sure i will learn a lot and i hope i can teach a lot in return.

I am working on investing in some realestate over in Upstate NY (Rochester) and also in the South East Florida area from Palm Beach to Dade County. I always keep my eyes open on deals in SE florida area through contacts i have made over the last few years. I also have about 3 differnent Hard Money guys and that can help.

Looking forward to be a part of BP

Thanks

Ryan