All Forum Posts by: Austin Mudd

@Sean Cole @Account Closed Maybe you guys can offer some advice on this. I've come to understand that assinging under a purchase contract is a very legal gray area in PA. The safest way I've understood is to perform a wholesale transaction under an option agreement. I met with a seller recently and there were two other investors in contact with them. We all were @ $30k with offers, so I told them I could do $36k seller financing or through the option.

Their main concerns were: 1) Wanted to get rid of the house quickly due to a death and 2) Was concerned if I couldn't find a buyer, they'd still have the property to deal with (reason I offered seller financing). 

What do you guys suggest in a situation like this? I thought it was tough to compete agaisnt the other buyers because I had trouble dealing with objections over having an option open on the property for an extended period of time (3 months for instance)

Try to read a chapter a day on any real estate book. After a few years you'll have a good amount of books you've read and you'll be much more informed than anyone else your age. Search the forums for books and there's a few lists of popular books. 

Not sure if anyone else is familiar with a few FinTech companies popping up where they give homeowners cash for a % of ownership and a stake in the future appreciation of the home under an option contract.

Few articles: 

http://therealdeal.com/2016/09/23/tech-investors-o...

https://www.washingtonpost.com/realestate/financia...

Curious what you guys think about it. With more and more homeowners benefiting from a rise in home equity after the last recession, it sounds like an interesting 

Link to Point's FAQ:

https://point.com/how_it_works

You can try here by searching by the property's APN : https://arcc-acclaim.sdcounty.ca.gov/search/Search...

Another solution that costs money is subscribing to Property Radar. It's all public data but they have it organized effectively. Useful too when you want to mail all owner occupants/absentees in the neighborhood you're driving - they have export functions.

@Dmitriy Fomichenko @Sunny D. I'm going to piggyback. I'll be starting my first full-time job. Will be making a good salary in a low cost market and going to use that money to fund real estate activity. Do you have any insight regarding funding a 401k vs IRA vs just using that money towards RE now? I'm torally uneducated about retirement options.

Looking for an investor friendly attorney to speak with regarding this question. If anyone has a reference, would be glad to speak to them. Thanks

Bumping this to see if anyone else had some tricks up their sleeves.

 A tip for those -  you can enable "Canned Responses" in Gmail by going into settings and going into the "Labs" tab. It allows you to create email templates, so you can just create a few, paste the CL email address and bam - send it. Takes a few seconds each email. 

@Nicholas Armstrong Two questions as I'm getting ready to get started in the next month. Is your JV partner running the project management? I'm assuming it's a difficult to find the time to hire subs and manage your jobs when you're busy with a day job (i'll have a 9-6 job). What role did you have with managing the day to day stuff?

And with your realtor, when you came across a property that interested you, did you ask them to run CMAs to come up with as-is value and ARV?