All Forum Posts by: Chad McIver

My plan is to buy a house subject-to, by doing a Quit Claim, and taking over existing mortgage payments.

The seller is wanting to purchase another home ASAP, and needs the loan im taking over to be off their DTI, otherwise they don't qualify.

Is there a way to do this without seasoning the loan payments for a year?  

Thank you!

 Had a close friend that got scammed by them for a good amount of "down payment" money.  

 Welcome~

DO NOT use them, complete Scam

Yeah, he sent over the money up front for points and other fees.  They seem to be playing some games, and he is waiting for them to wire funds for a purchase.  Assuming this is a scam.  Will find out this week!

Has anyone used this company for Loans for real estate deals?  Checking for a friend to see if they are legit

Besides the obvious, MLS and sending to all local Builders, what is a good way to market a Completed, ready to build 30 Lot Villa Development that backs to a golf course? I have posted on a couple local real estate investing forums and Sent out to a few builders. Is it worthwhile to get it out to surrounding county builders, or even out of state builders? Trying to get it sold without listing on MLS and paying the commissions. Thanks!!

Im in the beginning process of taking on a similar project, love to see one that came to fruition, great job!

Been down this path many times.  For General contractors that want a good chunck of money upfront typically, start the job at their leisure, do shotty work, or a combination of the two.  Not saying this is the case for all, but this is from my personal experience.  

I Always buy material, so once they get going on the job i pay approx 33%, 33%, 33% till the job is finished up.

It takes time to find the right contractors, its the toughest part of the flipping business.  Spend as much or more time interviewing contractors as you do looking for the next flip.  Trust me on this one!

In approx 50 flips, ive lost on one, and it just happened this month.  Truth be told, I never thought I would lose, and was shocked that I did.  But I take full responsibility for the loss.  As more investors came into the game, margins have gotten tighter.  A month passed and I couldn't find a deal.  So i pushed my numbers a bit to get one at auction, and in the end it backfired.  I should have been more patient, and waited for the right deal, now Im stuck taking an $8000 loss.   Initially feeling a bit defeated, but now feeling empowered, cause I learned from my experience and loss!  There are alot of unknowns and what ifs in flipping, but when you know your numbers, do your due diligence, you will do great. Focus on where you want to be, not what your afraid of and give it your best shot!