All Forum Posts by: Eliott Elias

I would take a look at it before you sign the assignment of contract. You can look at it after, once it is open with title as well. 

Your lender will only lend on the appraised value. If it appraises for less than your purchase price, you either negotiate further with the seller or come out of pocket the difference.

If it appraises for over, you might as well keep the purchase price the same, but you can purchase the property for the higher appraised value. 

Are you referring to licensed inspectors or just someone physically being there assessing the condition? You can pay a realtor a flat fee for every property they walk for you, preferably someone who is investor friendly and understands construction. Or other wholesalers you JV with.

Have a good opener. Most of these homeowners get hundreds of cold calls a week and hang up in their face right away. You want to be unique and grasp their attention immediately.

For a rental you want to take into consideration vacancy, property manager fees, maintenance and mortgage. 

Who is lending money to you at 6%?

It sounds like you’re dealing with professional squatters, not the cockroaches who flee when you make noise. Hire a lawyer.

What makes you an attractive candidate for a mentor? Mentors are not bending over backwards to look for their mentees. Even the paid ones.

Most hard money lenders qualify the property rather than the borrower. Your interest-rate and points may differ depending on your level of experience.

Depending on the state, you can not split commissions with a realtor. What you can do is charge a finders fee.