All Forum Posts by: Daniel Gonzalez

I had to take some time off due to some personal issues I was dealing with. Now that I am back on my feet, I have been investing to buy and hold but looking to start flipping again.

I noticed in my area of Miami, properties are scarce. Any others experiencing this dilemma in your neck of the woods?

I wouldnt worry so much about qualifying for a loan. See if you can have a loan officer write you a letter saying you are qualified if possible, lline up a hard money lender, then have your buyer in place before you even close so you can do a simultaneous closing. Unless you plan on holding onto the property and using it as a rental. I wouldnt especially if you have to do repairs. Just line your buyers up so you can close and make nice profit!

I am not going to write everything I just did in the MENTORS post. So if you choose to go and read. Oh and by the way, I will change my signature for you and really make you skeptical!

Cant wait to see what you boys have to say, cuz I can see the wheels turning in your minds...

:violin:

Check my post again and you will see I have gone back and changed my own post. By the way, I am not in here trying to recruit. I actually came here to network with other investors for some wholesale deals and see what everyone else is doing and to offer any help in the short sale department. If someone wants to invest their money, time, and energy getting educated whether you agree with it or not, dont be that road block for someone who wants to learn and make money either doing real estate deals and/or marketing the education. Have you had a chance to see what kind of education we provide? Have you experienced anything that NR has to offer?

Why be biased to people having more than one income stream? Why the block on people who want to be able to get educated in over 30 strategies in real estate and be able to run a business from home that will make them $8,000 - $9,750, - $12,000 - $20,000 - $30,000 and up a month? Let me ask you something, when did you make $30,000 in one month that does not include your real estate? I am sure you do great on your deals, but was it like that when you first started off as a newbie investing in real estate? Perhaps you succeeded with little or no struggle or did it take you sometime and was it hard?

Listen, I am sure you have read, listened, done the seminar thing, coaching, etc...to invest in yourself to learn real estate and I do apologize for knocking that. I have invested in myself with other programs and have read books, listened to audios, seen videos, done the seminar thing, blah blah blah and have had no success. I have read the free books and audios, etc... and for some people it works, for others it doesnt. Again, go back and see the post I have been posting to other investors and helping them out with short sales and other areas.

As far as the classes at Nouveau Riche, they are not seminars that you normally see with other programs. If you had all the information that you needed to talk about NR you will see that the classes are designed as if you were attending a normal university/college class. The way it is structure to learn real estate investing supercedes all the other stupid seminar guru type crap that is out there. Why I know, because I have been there and done that.

I see that this site is great and I have been able to connect with several great individuals. And I am sure the haters are good people too! Probably have been taken by the seminar crap and has left a bad taste in their mouth. Listen, what NR has to offer isnt for everyone, but if someone wants to go that route and have exposure to it, don't stop someone from finding and having success whatever way they can get it.

If I wasnt exposed to Nouveau Riche 8 months ago, I would have never been in the position that I am at now going the way I was going then. My wife and I work this business full time from home, helping other students position themselves to very shortly quit their full time jobs and work this business full time, $15k in 2 weeks and another $30k coming to me in 3 weeks from my business and 3 short sales that are in route to close. Profiting no less than $20k on each and several REO packages in place with buyers and other developments I am working on to wholesale. Multi-family will come later on this year when I am prepared mentally to go that route.

second that one... :wink:

Is this your first real estate deal you are doing? You said you are new to this, does that mean buying and holding multi-family or just in any part of real estate?

What are the average rents in the area? What kind of price have other buildings sold for in the area? I don't want to discourage, but all you have is $11k in the bank and you want to buy 3 buildings?

I hope this works out for you and your wife! You guys definitely are looking towards a brighter future, but you need some serious cash flow to begin with whether it is from other smaller rei's or your business. If I were you, I would start small then work your way up to the big boy toys.

Ya the banks are stiffining up a bit. They realize they can still sell as an REO especially if they offer it as packets of properties to investors that liquid. Keep doing what your doing. Some happen some dont!

You should be atleast clearing no less than $20k on each short sale or else your wasting time....just my 2 cents.

Hey check your PM!!!

You dont have to wait 90 days to perform a short sale especially in todays economy. They can be one day late and you can perform the process. Just like mercury mentioned, tell him he has everything to loose and nothing to gain if he doesnt agree to allow you to purchase his property and perform a short sale.

If you perform a short sale and it goes through it will save his credit, he wont have a foreclosure tied to his name, you will pay any leins or back taxes on the property, etc...

hope this helps!

And they say us NR people arent educated...inside joke to another post!

Anyways, yes the loss mitigation will send you to the actual person handling the account. Once you fax over everything, then you will see a response from them. Typically it will be that they send out a BPO to the property by a local appraiser or realtor who can perfom BPO's. The lenders that you will deal with ususally are far far away...

Once you are going to make your offer, offer 70% from loan amount if property needs any type of repair. 80% if it doesnt need repairs. This will put you in a good price point with the bank because they know what they can go to as far as price is concerned. Sometimes you can get away with lower prices but this also depends on the FMV of the area and what properties have closed for in the last 6 months.

Closings: You can close with either a title agent or an attorney. Make sure either one can perform a double closing (simultaneous closing) and just incorporate their fees into your HUD form along with the other fees.

I hope this helps and hope that I answered your questions!
:mrgreen:

:lol: :lol: :lol:

All to funny! I dont mind if you guys poke fun, its a-okay with me. I respect you guys and I won't bad mouth like some certain individuals in here....(old guy in the suit). Careful, nucleaur cockroaches are dangerous! :mrgreen:

I will change my signature for you boys...