All Forum Posts by: Adam Gollatz

Personally Im a fan of leverage. But if you are only looking to do one deal at a time and you are comfortable investing it all, using your own cash is the way to go to maximize profits. Depending on the market and what your target ARV is, you might want to look into rolling the cost of the purchase, rehab, and carrying costs into a mortgage with yourself so you can do the delayed financing when you refinance.

If you want to check competency to some degree you can look them up on zillow/trulia and see their ratings and how many deals they closed.

Like I said before, I wouldn't sweat it this much.

@Brandon Smith welcome to the site and the world of REI. Its a lot to take in, but youre asking the right questions. Milwaukee is a great market with a wide array of investment options. I sent you a message with some info. Take a look and good luck.

Yes. File your taxes. Get your money. 

You can give it to me if you dont want it that bad.

I see people selling "lead" lists that include anything from properties in probate court, owners with equity, owners of (x)+ years, vacant properties, non owner occupied properties, properties with filed evictions, you name it. No telling why someone would want to sell. If your going through all the effort of driving 2x a day, might as well call them.

Keep you in mind for what? Showing your property to one of their buyers so they hopefully buy it? Id say the "etiquette" is more of whatever the listing commission is in your area 2-3%

Are we talking about traditional 30yr fixed loans or commercial loans? To be honest, unless the numbers are drastically different, I wouldn't worry about it too much. 100k at 5 vs 5.5% is about 30 a month difference on a 30 yr fixed.

I would select the bank that offers the widest variety and most flexible loan products so you can use this as a chance to start building a relationship with them. If that advice doesn't help, go with the one that has the lowest closing costs and make sure the numbers work for my deal.

Tell us more about the property. Have you looked into cash out refinances or heloc?

If you can and the numbers are sound, go for it. Really just depends on your financial situation and risk tolerance.

Whats causing you to focus on the house to begin with? The purpose behind driving for dollars is to look for some sort of distressed property or signs that a house is liability and not an asset. It doesn't necessarily have to be unoccupied, although that is one sign.