All Forum Posts by: Armand P.

Hello BP! 

It's been a while since I've posted on here. Is or has anyone ever use a company called Filam ReiVA services? I recently hired them to handle all my cold calling marketing acquisitions and dispo. Would like to get some feedback about your experiences with them as I've heard nothing but good things. 

Armand 

Hello, 

I spoke to an investor/wholesaler who purchased a flip property in Texas sept of 2023 and didn’t have the funds at the time to get begin rehabbing. He is looking to borrow $50k with 10% interest. He already has the $50k with the hard money lender however they will only release funds once first phase of the project is completed. 

In order to secure my investment will a promissory note suffice or do I need a deed of trust or something as collateral in the event I don’t get my $ back? 

Is it normal to have private money funds get wired to individuals business or personal account since he already has possession of the property? 

Thank you 

Armand 

Hello BP,

Looking for some legal advice with an investor friendly attorney in Texas. Please DM me. 

Thanks you! 
Armand 

Hi, I am looking for subject to deal in Northern California. Before I get into any deal, I want to find a lawyer who can prepare a contract and some necessary documents to mitigate potential risk involved in subject to transaction. Can anybody recommend a good real estate lawyer for subject to deal?

Thanks,

Armand

Hi BP,

Looking to network with agents from the bay area who have advance knowledge with subject 2 and can execute a transaction from start to finish. Please reach out

Armand

Hello BP,

After watching tons of YouTube video with Pace Morby on Sub 2, I want to purchase a property for my mom using this strategy. If anyone has used creative financing to purchase directly from seller or agent please reach out. Looking to buy in Bay Area. 

Armand

Hello BP, 

We are near closing on our DSCR loan and want to get some ideas on which strategy would work best.

1) lease option: 2 yrs at $2350 per month 

2) do a one year rental for $1900-$2000 p/m and re-evaluate where to market is and look to sell. 

3) converting it into a short term rental I.e Airbnb,  home way etc…

We are taking into account that if we hold it for 2 years we would possibly avoid paying capital gains tax for anything under $250k. Can someone verify that? 

Armand 

Hi Lor,

We are currently in a similar situation. My partner and I did our first flip in Vegas. It turned out very nice but the appraisal came in $20-25k lower than our list price. After having it listed for over 40 days we decided to delist and applied for a DSCR loan in order to payoff our existing hard money lender. The good thing about this kind of loans is it based on the appraisal not income and they close much quicker vs traditional loan process. The rates however are much higher. We are looking to hold it for a few years via a lease option.

Good luck 

Armand 

Hello BP,

Would like to expand my network and connect with RE investor and agents. We recently completed a flip in Vegas (first one) and has been on the market for over a month. We had 1 offer accepted, but fell through due to buyer losing his job. 

Are you experiencing similar situation with your investment or listing(s)? What strategies or creative ways are you doing to combat increased rates in a buyers market where inventory is historically low? 

Would love to hear from you!

Thanks,

Armand

HI AJ,

Thanks for your response! Yes if does help. My partner spoke to a local lender and they quoted 30yr fixed at 9.5% with 70-75% LTV cash-out refi