All Forum Posts by: Devon Kincaid
Devon Kincaid has started 1 posts and replied 6 times.
Post: Brokering or Wholesaling Notes
- Mcallen, TX
- Posts 7
- Votes 9
Originally posted by @Marco Bario:
I've recently had a great deal of success marketing to seller-financed noteholders. I send 300 letters a week. Each batch results in 1 - 3 replies. Of those replies, I'm trending on closing 30% - 50% from the replies I receive. That's a very good ratio. I started doing this about a year ago, got discouraged (it happens), but decided three months ago to re-focus. October has been a good month.
With interest rates low and probably headed lower, institutional investors who purchase notes, banks, in particular, have access to low-cost capital and have been increasing their purchase prices. My model is to add what I can to my own portfolio and broker the rest.
Check out the Note Inc podcast (free) and Note Investing Tools (very fairly priced) if you'd like to learn more. Jeff Armstrong (Armstrong Capital) has a lot of information as well. He also does speaking appearances.
Most of the work is marketing, and with success speaking to note holder leads, obtaining quotes, then facilitating deal closings.
The part I enjoy most is speaking with noteholders. I'm a big fan of seller financing because it cuts out the big banks and there's a story behind every note.
Happy to answer other questions you might have.
Marco thanks for the info. Your website is awesome! Personally, I would prefer building relationships with asset managers from small regional banks, but from the outside looking in it appears that your killing it in your niche!
Gotta love seller financing, bank free transactions, and getting to cut them out (and all of their BS).
Post: Brokering or Wholesaling Notes
- Mcallen, TX
- Posts 7
- Votes 9
Wow. Thanks for proving my point! I never said it was easy, but to everyone following this once lifeless now active thread, real estate investing at its core is simple. "Buy low sell high", and yes I know there's more to it than that, like knowing how to properly assess risk, deal analysis, and all the legal crap in the state you operate in, but its doable! And Jay I have known plenty of very successful people that do things the right way and get sued frequently, that's american culture. But sadly many people don't understand the best course of action in those circumstances and have not prepared for worst case senarios. But to be honest the same risks come up in ANY business! I'm not advising against precautions and getting some education, prior to engaging in flipping notes, but hey after you have that knowledge don't be paralyzed by fear.
Are there risks... yes, are there chances of rewards... yes, but you can't swim until you jump in!
Post: Investor friendly realtor - DFW
- Mcallen, TX
- Posts 7
- Votes 9
Hey @Daniel Ordonez if your still interested pm me. Always looking for investors to help, plus I come across some amazing deals in the area.
Post: Clayton Morris / Morris Invest House of Cards starting to fall.
- Mcallen, TX
- Posts 7
- Votes 9
The first time I heard Clayton talking about buying a house for 35k and renting it out for $1300, I knew something was up. Not to down play anyone's investing troubles, but this why we always say investing in real estate is risky. Its especially risky when you're completely hands off.
Post: How much money do you think BiggerPockets made last year?
- Mcallen, TX
- Posts 7
- Votes 9
I know this is old, but Levi I believe you may be a little surprised by the actual revenue. Inc estimates bp brought in $6.9 million in 2017. This is a big community with over 6k daily visits, and loads of YTube views. It just goes to show consistency is key.
Post: McAllen GREEN 4-plex
- Mcallen, TX
- Posts 7
- Votes 9
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $131,000
Cash invested: $30,000
4 plex, Current value based on rents $215,000
Lessons learned? Challenges?
Expect unseen issues when properties are 30+ years old!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, this was before I had my license. I worked with my good friend Matthew Neie, who was an all around rockstar!