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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
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19 February 2025 | 88 replies
Growth is best served TRANSACTING properties to HARVEST appreciation/equitable gains for redeployment of those gains (better know as PYRAMIDING).
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2 February 2025 | 22 replies
I wish you success as you expand your business also.
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17 January 2025 | 22 replies
Successful BRRRRs are challenging enough to do local to you.
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16 January 2025 | 7 replies
They only get paid 1% of the credit lines they get for you successfully.
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23 January 2025 | 7 replies
I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.
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19 January 2025 | 7 replies
Their success speaks volumes however, its a bit much for me to stomach for a potential benefit.
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16 January 2025 | 7 replies
With one successful flip under my belt, I'm eager to connect with fellow investors and expand my knowledge and network in this vibrant real estate market.In addition to my passion for real estate, I’m also a skilled electrician.
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21 January 2025 | 14 replies
We don't pay vendors by credit card or cashapp because it is far too hard to keep the accounting straight with a high volume of transactions to do that.
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21 January 2025 | 6 replies
It's 5 years into payments and going strong. ya suing on land lock is not a given right and is not always successful good job selling to neighbor.I also have one.. bought house at foreclosure..