All Forum Posts by: Clifton Kaderli

This is a great rental deal with seller financing available. I would love it, but it is too far away. 

Property is vacant, needs renovation. Could be used for up to four units - per owner. Confirm this with local authorities. 

Will finance with 15K up front. 

To finance the remaining 40K seeking monthly payments of $415 for 10 years. 

PM, call or text

540-664-6499 cell

I am seeking properties in several counties in Northern Virginia area surrounding DC. I will generate a drive list, map, and training. I need 3-5 team members that will door knock properties in pre-foreclosure. If vacant, then we will skip trace and pursue. If occupied, you will be trained how to close to a consultation. If a deal is reached, I can pay you for the lead, or I can work the deal with you. This is a great way to train and build your business. Call, text, or PM. 540-664-6499. 

Excellent discussion. I was familiar with the strategy but not the term. 

I imagine this would apply to using a house for some sort of short term rental. If anyone is in Austin, TX (everyone has a place to rent for SXSW). 

Does this term apply to transitioning a SFR into a resort rental use? I am asking so that I can adjust my keywords with accuracy. Great topic!

A call to the Secretary of State of Texas will give you the assistance for forming your LLC. I'm not an attorney. I do operate in TX with an out of state corporation though.

If you start a TX LLC you will need a registered agent. There are companies that provide this service such as National Registered Agents. They charge a minimal annual fee. My thoughts are that you would not want the subject property as the address.

If you start your LLC in another state, then you will need to register as a foreign entity. SOS of TX will help with that too. You will need a registered agent for that as well.

Not sure if you are doing this in your IRA? Quest is a custodian that is strong in the TX market. They provide good networking and consultation.

You will need non-recourse lenders, like B2R, or other private money partners. 

The business in the market is good. The biggest hurdle is the human element. Make sure you have accountability in place. Trust, but verify anyone doing anything. 

We populate pre-forclosure lists by mining data from all of the trustee websites in our area. This is a large number of properties throughout Northern Virginia (metro area around DC). If anyone would like to JV in prospecting these leads, happy to discuss.

I know that some states like Texas have the foreclosures on one day every month. In cases like this, most metro areas have 1-3 list providers that publish data and a very clean format. 

I spent some "curiosity money" and quickly unsubscribed. Very underwhelmed, and the leads did not seem quality. I didn't spend and extensive amount of time with it. If someone else has a different experience, please let me know. 

Thanks to those who can't attend that have already reached out to connect. Yes, this will be VERY informal. I am hoping to hear more from buyer wanting deals, and bird dogs that can help find them. 

This is my REO listing. Seller says I must hold an open house, so I want to welcome the community to network and see this house in need of rehab. I am seeking to add team members in NOVA, and what a better time to talk? See you there. Call or text 540-664-6499

Certainly. The more options that you can present to someone seeking to take the property, the stronger your position. If you negotiate seller finance... then assign the terms (or similar) you can demand more with terms. Ask around at your local REIA about who does this in your area. Happy hunting!

I have used this technique. Think of an LLC as Tupperware. You put a house in it, then sell the container and the contents.

A retail end user will likely not understand or want the LLC. If your property is likely to be a good rental, then a business-minded landlord, may jump at it.

@shawn 

@Shawn ThomYou are correct in the need to make sure that no baggage has been accumulated by the LLC. If the LLC is created fresh and clean, just for this property, then problems are less likely. Definitely have language in your assignment of LLC documents that clarify this issue.

Good question!