All Forum Posts by: Rich Perrin

Anybody ever use David Wilson from Contract Finance Services LLC who claims to be a private lender and using his own money to fund loans? He's out of Missouri. He offers 100% financing however as always, if something seems to good to be true it usually is. Just seeing if anyone has had any experience with him. Any suggestions on how I can check his legitimacy?

if your able to buy 25-30k homes and rent them out at 2%+ of purchase price, that's awesome cash flow. Buy as many as you can!

I been looking for some time now a RMLO who can help me do subject to deals in NJ. If anyone knows a good competent real estate attorney that understands these as well, I'm all ears. Should I be looking in a specific place for either or both of these? 

@Grant Kemp you mentioned to use a third party to collection company to perform any debt collections to not arouse any suspicion. What kind of third party are you referring to and why would that cause it to not arouse any suspicion? I've seen this mentioned a few times.

@Bill Jones you mentioned to use a third party to collection company to perform any debt collections to not arouse any suspicion. What kind of third party are you referring to and why would that cause it to not arouse any suspicion?

@Grant Kemp Have to say first Grant that I really enjoyed your podcast. Very informative and open my eyes to a new strategy I didn't really understand until listening to it. Quick question. You said you fully disclose to both your acquisition person and the buyer which I fully agree with. How do overcome a possible objection to the buyer (sale) that its a possibility to the DOS clause could trigger and there could be problems? How do you explain that to them? Also, is your company capable of doing RMLO in New Jersey?

Looking to set up an LLC, Land trust, etc. Saw a commercial last night for one of these websites which promises to set up an entity for a fraction of the cost of a lawyer. Has anyone used any of these online services or should I just go directly to a lawyer?

@Joe Boggin will this be a flip or hold prop? If it's a flip I believe gas would be a better choice to invest in. Electric is ideal for a rental. Costs for plumbing is going to depend on how much material and how hard it's going to be to get it in place. Not enough info to give a general price. Do yourself a favor and don't buy a used HW heater. You can get a new one for $600 installed. No reason to take a chance to save a couple hundred bucks. A local appliance store is best for appliances. You can get open box, scratch and dent or trade in deals for savings. At least you'll have someone to go back to if they don't work when you initially turn them on. Hope this helps

@Ben G. @Ryan Ahlgrim Thanks guys. Looking to do the same in January. Very helpful. Like the absentee owner idea.

Ben, have you mailed to that same list again after the 1st time? If so how was the response the 2nd time?

Also, what are you guys mailing out? Yellow letters, postcards, etc?

Thank you Dev!