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All Forum Posts by: Brian Van Pelt

Brian Van Pelt has started 9 posts and replied 461 times.

Post: Refi requirements for the BRRRR strategy

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Raad Qumsieh

Options

. Bring your father in as a co-signer and silent partner(investor)
. Bring a friend or different family member in as co-signer and silent partner.(investor)
. Use a Hard Money Lender

Post: Bought a defected house need advise

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Bradley Howard

I think you found your problem, it's the dishwater especially since the leak detection company could not find a external problem. 

Look up on the internet for  mold remediation mixtures (usually water and bleach) that you can treat the walls with. Put a dehumidifier in the kitchen and bathroom. to reduce moisture in the air. 

Spring is a time with all the rain that you WILL find any external issues.

DId you have a home inspector prior to buying ?

Post: Buying and Selling Notes

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Fletcher Clardy

Banks will increase the use of remote signing and other contactless methods of doing business such as postal,zoom etc.

Banks will also continue to take loan applications, but start slowing down the processing of loans and slowing down the approval of loans. The issue for them is as home prices decline it will get harder for them to lend on a depreciating asset.

Post: Seller Financing Contract

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Prudence Green

Your title company can process a note for a small fee. Downloading and modifying a note can lead to problems, especially if it is non compliant for your state.

Post: Real Estate Referrals

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Nishil Kothary

You have to make calls to build your base. Looking for another investors to give you their sources in their areas is not going to happen.

Post: Property management systems?

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Adam Karr

Quickbooks

Post: How to find good deals?

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Andrew Melvil

Start with a realtor, the MLS is a great source at the moment.

Post: Buying and Selling Notes

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Fletcher Clardy

You forgot the most important factor in buying a note and that's the current Market value of the collateral on secured notes. Buying a collateralize in a falling market can significantly increase the risk. 

Post: Housing only agent question

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Kyle Curtin

As a real estate agent with only 1 year or less of part time experience, your "next level" in real estate should be becoming a full time agent. Focus on listings while visiting potential homes (duplexes and multi units) also check the MLS for homes sold 3 to 7 months ago and call the agents about the deals and grill them, most will be glad to talk. THEN start taking people out. You cannot be an expert until you have gained practical knowledge. Also don't limit your potential client base to 23-30 be bold and fill a database with contacts regardless of ages.

Post: Anyone get a side gig because of this crisis?

Brian Van PeltPosted
  • Specialist
  • Owings Mills, MD
  • Posts 485
  • Votes 415

@Paul Sandhu

I've always had a side gig as an artist. I have an extra hour or two a day to work on that. I've been able to work on my backlog of commissions.

How are things in Coffeeville ?