All Forum Posts by: Encarnacion Gutierrez

I used to use Zabbasearch...but now it is the same as all the paid sites like Intellius.i do not search often enough to pay for something like property radar. Is there still a good, free people search for finding phone numbers of absentee owners ? Anybody know any good sites?

I used to use Zabbasearch...but now it is the same as all the paid sites like Intellius. I do not search for people often enough to justify paying for a service such as property radar. Does anybody know where I can still do it free people search that is useful?

I used to use Zabbasearch...but now it is the same as all the paid sites like Intellius.

I do not search for people often enough to justify paying for something like property radar.

Is there still a good and free people search for tracking down absentee owners? Anybody know any good sites?

@Terry Dunlap

You should analyze the desk the same way you would any deal and go through all the same motions. Inspections, escrow, visit the property, look at comparables. Don’t be paranoid, just analyze the deal.

@Pedro Padierna

Personally, I don’t think a truck in the driveway next-door is going to deter your potential tenants from moving in if the rest of the area is as good as you say.

My advice would be to drop the rent once you have a renter there for a year you can ring the rent back up.

Also, 29 days is not that long ...drop the rent and test my theory and gauge it based on actual applications not just theoretical ideas. I’m speaking from my personal experience but every location is different.

@Evan Evans

I don’t think that will work. At min you will need 20% down for each property, you likely won’t be able to buy 10 houses with only $50k down.

Plus, after the 4th loan it will be almost impossible to get a 5th loan. Regardless of the FHA guidelines that allow for 10 loans, most banks will turn you down because it will be too high risk. It has happened to me and other investors who have tried. That used to work in the past but it does not anymore.

Have you looked at units? Maybe buy one building? Or even one sfr. Don’t focus on how many properties, focus on the cash flow. You may be better off buying one house free and clear that has a high amount of cash flow, then having 10 houses to manage even if the cash flows the same.

@Jerrel Jones

No it does not make sense. There needs to be more equity.

You have to learn to get a tighter price range for the value. Most people learn to appraise a property using the same methods bank and lenders use. Your range is too broad, doesn’t really make sense if you can properly estimate the comparable value of a home.

@Timmy Fritz

Seller financing usually only pencils out if

1. The property is free and clear or virtually free and clear.

2. The first loan has a low interest payment.

If his existing has a low interest rate on the first,

You could use a “wrap.” He can carry a note on a higher interest rate, and the difference between his first and your second is his profit.

The rents sound strong enough here, run your numbers to be sure you will have enough cash flow and make sure you don’t have a prepay penalty so you can refi later if you need

@Amy Dugan

Target anyone who recorded over 20 years ago and has not refinanced.

Tell them how much more money they can make with seller financing, i.e. you can make 3x the value of the property with seller financing without having to do any Propert Mgmt

@Jacob Rzewnicki

1 method is you would have to do a “wrap” on top of the existing mortgage. You will get a mortgage with an interest rate higher than the existing rate. The difference in payments is the profit to the seller.