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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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17 January 2025 | 4 replies
Are there specific lenders or servicers that are more likely to call these loans?
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31 January 2025 | 29 replies
As a builder/investor myself some of your estimates seemed a little off to me, but those can be very market specific so its hard to say.
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27 January 2025 | 48 replies
Unless you have some sort of subject matter expertise or access to an unfair advantage (cheap labor, ways to source off market deals, etc.), index funds are likely to provide an equal or better return with a MUCH lower hassle factor and more liquidity.
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17 January 2025 | 9 replies
They can offer valuable insights into the local market, potential rental yields, and specific considerations for a rehab project like the one you're planning.
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27 January 2025 | 11 replies
Are you looking in a specific city/market?
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23 January 2025 | 4 replies
Feel free to call if you have a more specific question.
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21 January 2025 | 5 replies
Thanks for the feedback; some quick stats: 9 doors across 4 states, about 50% LTV ratio with a Net Income of about 17% and cash on cash of about 3%.....in fairness those numbers include some overall business expenses not tied directly to one specific property.
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14 January 2025 | 19 replies
Furnished Finder is primarily a lead source.
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22 January 2025 | 4 replies
If you have specific questions about property management, I'll be happy to help!