Ahmed Habib
What is best strategy to close first few wholesale deals?
13 March 2024 | 6 replies
There are a few types of people who will buy your end of line flips….1) Those that will only buy truly safe … battle born… “equity the day I buy”.. opportunities And/or2) those that were trained to see real estate investing as a much more risky “ investment”… in other words “ a buy that “SHOULD” have value after appreciation”With Buyer group #1… if you provide truly investor grade deals that haven’t been stripped of most of the equity before you try to flip, you will build a following of investor grade buyers that WILL pay cash and CAN close “ as soon as the title search is done”… This will net smaller nets for you initially , but you will own a REAL Buyers list… that WILL have the experience… to REALLY CLOSE ASAP.And that will make your machine run MUCH more smoothly.Or2) you can initially max out your net on a few deals as you scape out most of the equity for yourself… but you will only be working with non experienced buyers.. who will buy ….one… realize that they are in WAY too deep… have no B plan.. and they will be FAR less likely to buy again… AND they may never even make it to your first closing .So.. your choice… cultivate a crop of GREAT slam dunk , low work load real buyer investors…. where all you need to do is find the property , mark it up a LITTLE ..and we do all of the rest of the work…Or sew a crop of weeds…I do spend a little bit of my time asking wholesalers to take me off of their lists.I would love to buy from you.I don’t want to spend my time doing the initial marketing.I am willing to pay for your valueBut I don’t buy properties that don’t have TWO exit strategies1) enough equity AT CLOSING so that, at the very least I could sell it TODAY without taking a loss…..AND2) after my expertise ….
Humberto Valle
What is the best resource for Manufacture Home Parks Code & Things to know?
13 March 2024 | 4 replies
I have a few clients who are trying to sell / buy land and mobile home type investments, I'm curious do you have a good source for things to know, the code for mobile home parks, etc?
Marko Bukva
Construction loan vs FHA 203k on a flip
13 March 2024 | 8 replies
I don't lend in NY (we do investor loans in most of the country and consumer loans only in FL, but we do nothing in NY), so I don't have a dog in the hunt here, but don't discount other types of loans, including a loan designed specifically for flipping.
Jorge Abreu
Continuously growing influence through deals and activity. 📈✨
13 March 2024 | 6 replies
You don’t have to do that much (relative to many other types of business).But that’s a double edged sword.
Ziad Agarwal
Hard Money loan default
13 March 2024 | 6 replies
Sometimes it’s the hard money lender sometimes it could be someone elsePlease also note most hard money lenders also can seek a deficiency judgment which is the balance owed on the loan after it is sold at saleIf you are a borrower you can also work out a deed in lieu which is when you give it to them without going through this processWe recently received $200M in these types of defaulted loans to bid on, so we are starting to see and uptick in defaults.Memphis area had over 50 on the list.
Dulce Davis
Advice on Plumber committing Ins fraud
13 March 2024 | 4 replies
@Chris Seveney i spoke to them today and was told they are not the proper dept to handle this type issue.
Andrew Reyes
How to keep a property in Montclair NJ for long-term appreciation
11 March 2024 | 9 replies
Under 10 min drive to Montclair State University, Upper Montclair NJ Transit station and close to route 3/garden state parkway intersection in a great kid-friendly neighborhood.With 4 bed and 1.5 bath the current layout is ideal for a family.
Alex Ng
How to find Private Lenders
13 March 2024 | 10 replies
That would be a family and friends type of loan that you're looking for .
Alexis Fentress
Cash Cow #10 Class D
13 March 2024 | 7 replies
Purchase price: $105,000 Cash invested: $1,000 Purchase Price: $105,000Mortgage/Taxes/Insurace: $800Management Fee: $100Rent: at least $1,300Cash Flow: $400🤑🤑🤑 What made you interested in investing in this type of deal?
Sandy G.
Prospective tenants say the darndest things
13 March 2024 | 2 replies
BTW, you just said "next" to a nice young engineer who just got a new higher paying job and is an A+ type applicant.