All Forum Posts by: Dennis Williams

Yes that is it.

Thanks Bill for your response. It was very informative. Ann, I do not remember the law coming out in 2014 he spoke of, but it sounded like Doug Law or something beginning with a D.

Hi BP family,

I spoke to a lending broker today and wanted to know if you herd that Hard Money/Private money lending will discontinue in 2014? Is this true?

Wayne,

It is 373 properties. We can do a 10 day do diligence contract with $500K in escrow. The list is out to other investors at the moment I just received the information tonight.

J Scott first of all, I love the books and learning a great deal from them. To answer your questions:

- Gross annually $1,380,000

- The properties are in different cities in Florida (i.e Tampa,Jacksonville, Ocala,Winter Haven, and a few more) I have a spread sheet that identifies all the properties locations.

- All the properties are single family homes

-Majority of the homes are rented, some are being rehabbed, and the rest are vacant at the moment.

-My friend would be the cooperating broker in the deal (representing the buyer)

I would be more than happy to send the sheet to anyone serious about buying a portfolio.

Is there any investor looking for a portfolio that cash flows $115K monthly? Asking price is $8.9M true value around $15M. All properties are in FL. PM me asap if you are interested. I received this info from a friend.

I'm about to buy my first flip next month. I wanted to know if a private investor is funding 80% of ARV, where is the extra money kept for rehab cost?

For example, if I buy a $60,000 property with an ARV of $130K, where is the remaining $44,000 kept? In my account or an escrow account?

I want to use transactional funding to acquire an REO property. What are some things I should include in the contract outside of them allowing me to show the property while under contract? What things may the bank want from me?

Okay thanks Wayne. Sounds like I will just maintain a license as a sales associate.

I am a licensed sale associate in FL and my goal is to be a full time investor. Is there a big benefit if I get my brokers license next year even if I plan to do more investor deals than agent deals? Or should I just maintain my license so that I can buy, sell, and have access to the MLS?