All Forum Posts by: Brandon Frulla

Good work man! The strategy to do a live-in flip while subletting the other rooms was smart. No doubt that it is an incredible opportunity for creating equity and living for free at the same time! Congrats.

Hi Matt, 

Owner financing is probably the deal type that I think about the most, though I haven't landed one for myself (yet). For property research, listsource.com is a good way to find many opportunities. Using their database and filtering options, you can search your any area and get a list of prospective properties for a relatively small fee. 

As for your thoughts on which properties to approach, I think 100% equity is a good option to shoot for- but be prepared for many rejections (it'll only take one 'yes' to make them all worth it). 

Good luck!

You'll want to read some items on seller financing, or perhaps master lease options. Both of those methods could work if you're persistent. Also, this is something that has been discussed at length on BP, use the search feature and look at old posts for loads of good advice.

I would bet money that him using the security deposit for something like that is a violation of his lease agreement with his tenants. Personally, I would walk from the deal if he didn't replenish that security deposit before the sale. 

If he's doing shady stuff like that, he's probably doing other dishonest things as well. Try to get a copy of the lease agreement and comb through that for any information you can use to your advantage. 

Best of luck, 

Brandon

Like John said above, a written notice to vacate the premises is what you need to do. It is the only thing that's gonna hold up in court. 

Hiring a lawyer is not necessary, but it could be a good idea depending on how much volume you plan to do. A good Real Estate-focused attorney in my area is about $350 an hour. I'd say it could be worth the retention fee to have them in your corner just for the piece of mind alone.

I would say to pick a single market to focus on, and watch it for a few weeks. During this 'watching phase' you should get connected with a realtor and build that relationship up, and then talk to a lender and get your pre-approval set up. Once you feel like you have a good eye on the market (is it hot or cold, etc.), you should start seeing properties. After all of this is done all you have to do is make offers on properties where the numbers work. To avoid analysis paralysis, trust your knowledge and trust the numbers.

Thanks, Brian! It's in the Ferry Farm area

@Tyrone Jackson The first thing I ask about most of the time is exactly that, seller financing! Glad it’s working well for you man, keep killing it! I’m definitely going to start networking more to try to find off-market deals

Hey Tyrone, thanks! 

I'm always looking for creative options with partners/groups, so while the next solo-deal I plan to do is of a similar strategy to what is above, the next most immediate deal I could be involved in is up in the air. I have a year before I complete the one-year occupancy requirement of my loan, so until then I'll only be investing in more creative ways. Ideally, I'm looking to work with some more experienced investors to provide them value. Something like generating leads for a local pro so that I can save up some more capital and soak up knowledge.

What's your current strategy?