All Forum Posts by: Eliott Elias

The commercial space is going to be tough because most properties are held under an LLC. Skiptracing companies are a lot harder than skiptracing non-LLC owners.

Also, taking over debt subject to for commercial real estate is a lot more risky with these commercial lenders. I would target single-family.

If you have connections to a realtor friend, or investor who buys off market properties, ask them to guide you through this process. You can involve a realtor without the seller paying the commissions. I would tred lightly if you are new and have no idea how to navigate this process. A good realtor is worth their weight in gold.

Even if you negotiate a deal with no money down. They are going to be closing costs involved.

What are your plans with this vacant lot? Considering you have no money.

Spend as much time as you do looking for deals, in finding money. All that work is for nothing if you do not have the money to fund them. 

There are many investors sitting on the sidelines right now looking for deals. You will not have a hard time finding them.

Conventional is far superior. You get better interest-rates, and little to no points. They are much harder to qualify for. If you can find a lender who can get you accepted for conventional financing on your LLC, use it.

I am happy to put you in touch with the photographer I use. Shoot me a DM.

Hard money is your best bet to be as little out of pocket as possible on a project you are acquiring that needs rehab. The max loan to cost you will find is 90%. Beware, these are high interest-rate and short term loans.

If you are looking for deals to buy, and have no money, you are a wholesaler. Unless you can partner with someone who does have the capital to invest in the deal with you.

On top of the lien, you are going to have to have a promissory note with all the terms laid out. A real estate attorney can help with this.

Reach out to realtors to find end buyers.