All Forum Posts by: Will Barnard

 Not too much, was nearby looking at a large apartment complex a few years ago but that's all I know in that area.

As Andy eluded to above, much of these reports have language and write ups in them that are purely CYA for the inspector. That way, they can’t be easily sued for not pointing something out. Have your subcontractors or GC look at the issues and see just how serious and costly they are, then you can either ask for a credit, ask seller to repair in your request for repairs or let it go and handle the issues after close of escrow.

They do in CA and most states I have checked and on top of that, if they are loaning money that is not theirs or charge interest and fees above the states usury limits, they most certainly have to be licensed. Name a legit hard money lender (not private investor) in any state that is not licensed! 

If you all are willing to pay $5k for wholesaling advice/program, I am in the wrong business and need to start a wholesaling education training. If you sign up today, instead of $5,000, it will be only $4,449. Credit cards accepted!

In all seriousness, $5k could be much better spent on your marketing campaign, after all, most of your start up costs are in marketing! Wholesaling is a marketing business, not real estate investing, as such, you need to know your market, how to estimate rehab costs and how to estimate ARV's. From there, knowing the contracts and how to structure the deal is all that is left. You say, "what about finding buyers?" Well that is about the easiest part of wholesaling and can be done with no money and very little effort. Wow, I really need to start this course. 100 students a year and I make $449,000 of no risk money. Thanks for convincing me all!

Over a 30 year term, your 3.5% saves $29,754 vs the 3.875 rate with $390k loan on both. Anytime you can leverage equity from a home at rate X and invest that money into a cash producing asset with a return rate of Y where Y is greater than X, you have created arbitrage and an infinite return (but with risk of course).

Hard money is a licensed professional lender who lends other people's money via a fund (and perhaps their own) to borrowers who qualify. They typically charge points, higher interest rates and typically require appraisals (at cost to borrower). Many hard money lenders do look at credit score of borrower and history of RE investments to help mitigate their risk. While many of them underwrite the investment as the first priority, credit still comes into play (which could affect down payment, interest rate, and points).

Yes, get an inspection report or foundation expert report and provide that to the sellers stating you found hidden issues and need a price reduction.

Keep in mind it is NOT personal, it is just business. If you do not offend sellers with offers over your career, you are making too generous offers!

Welcome to BP Nation Jerry and thank you for your service.

Stay active on BP and engage the community, it will pay off in the long term. Good luck in your investment goals.

You need to form the LLC in the state in which the property is located. If you form the LLC in CA, you will have to pay that and then register it in the state you invest as a foreign entity costing you more. Form the entity in the state the property is located, CPA's will advise you the same. FYI - I am not a CPA and this is not considered tax or legal advice.

There are lots of ways to finance a deal, including 100% financing, although you put yourself in an over leveraged position so be careful there.

Private money lenders and partners, hard money, conventional, seller financing (including subject to), or a combo of any of them.

Some investors have used a hard money loan and then a private money or seller carry back for a second loan.