All Forum Posts by: Danny Cerecedes

No I didn't move forward with them.  We incorporated with a company called Incorp. Hope that helps!!

Thanks Mandelo....can you recommend some resources to reach out to to find REO's?

Archie,

Thanks for the info..I'm an agent as well but honestly don't deal much with Short Sales or REO's. On the investment side of things I would love to make as many connections as possible with agents to get a stream of properties that have good spreads for rehabbing and flipping...then again who isn't right...lol!!!

I will totally take you up on the offer to get some potentially good REO's or Short sale properties that are prime rehab properties. Sounds like your broker has a lot of experience. We have investors and are ready to pull the trigger on the right property.

What Real Estate Brokerage are you with?

What areas do you work?

Talk soon!!

Hi BP....so can anyone give some direction as the best way to create relationships with real estate agents who specialize in short sales and REO's. My business partner and I want to start flipping properties and considering how competitive the market is that we live any advice or direction would be greatly appreciated.

Thanks in advance!!

 Hey Christopher,

I used Norada Real a Estate. I was really trying to narrow down where I wanted to invest out of state and I came across Norada from a Podcast I listened to. I thought I would give them a shot and good thing I did. They help narrow down geographical areas that makes sense. Here are some numbers:

Cash on cash return- 24%

Rent to value- 1.3

Positive net cash flow per month $524

I don't touch any of the net profits setting it aside for any unexpected expenses.

Hopefully this helps. I like the KC area because of its population growth, strong job market, education and low unemployment just to name a few.

Congrats Ken!! I also bought Turnkey out of state and man it is totally addicting. All I think about is creating additional passive income and building long term wealth!! I'm focusing on the KC area. I bought my first rental about 4 months ago and things are going great...knock on wood. Looking to get another before the end of the year and then the plan is to acquire one each year at a minimum. Being positive cash flow from the beginning is huge!!!

Good luck

 Hey Jason thanks for the reply.

So how do you structure your deals if you don't mind  measking. If I have investors willing to put money in on a flip do I give them a certain % they should expect to get back?

I've heard 8% annualized is common but I guess it all depends.

I also can acquire hard money loans but want to limit that if I can and just use private money and personal capital.

Any advice is appreciated?

 Daniel,

Thanks so much for your feedback. I totally agree with you not to get caught up analyzing it to much because there is no one way to slice it.

Definitely appreciate your advice!!

 Chris thank you for the info....much appreciated.