All Forum Posts by: Eric Ray Foraker

The FBI has issued a warning about a new kind of scam — and it could impact your real estate transaction.

Scammers are now using artificial intelligence (AI) to clone voices of trusted professionals. That means a fraudster could use a fake voice that sounds exactly like your real estate agent, lender, or title company — all to trick you into sending money to a fake account.

Here’s how to protect yourself:

     Never trust wire instructions sent by email or phone. Always confirm through a verified phone number or in person.

     Be cautious of urgent or unexpected requests for payment. Scammers create pressure to act fast — don’t fall for it.

     Use secure, official portals for any financial transactions. If something feels off — stop and double check. 

A few extra minutes could save you from losing thousands. This technology is getting more advanced every day. Please stay vigilant, your safety comes first. While the article mentions fraudsters are specifically targeting government officials, it's only a matter of time before the pivot to real estate transactions. Read the full FBI warning here

https://hackread.com/fbi-warn-ai-voice-scams-impersonate-us-...

Eric Foraker

eXp Realty

302-685-8458

 Yes, but that's easier said than done most of the time. 

In this case we bought from a landlord who was selling his entire portfolio to get out of the business completely. This was the last property he had and he just wanted out. It was actually listed at $70,000 and we offered 10k over asking, no contingencies

It's few and far between but when something like this comes up it pays to have all your financials in order to be ready to pounce on it

Quote from @Jaycee Greene:

Quote from @Eric Ray Foraker:

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $32,500

This buy-and-hold flip is a textbook example of strategic real estate investing done right. Acquired for just $80,000, with $32,500 in targeted renovations, this property has been fully repositioned and now boasts a market value of $245,000.

Not only did this deal generate significant equity on the back end, it also delivers strong monthly performance—with $1,850 in gross monthly income.

✔️ Purchase Price: $80,000
✔️ Rehab: $32,500
✔️ All-In: $112,500
✔️ Current Value: $245,000
✔️ Monthly Income: $1,850
✔️ Strategy: Buy. Renovate. Rent. Hold.

This is the kind of long-term wealth-building opportunity that shows why buy-and-hold investing remains one of the most powerful plays in real estate.

How did you finance this deal?

Hard money for rehab, once rehab was complete refi'd using a 30yr DSCR loan

How did you add value to the deal?

Targeted renovations
Full Kitchen remodel, full bath remodel
New floors (LVT)
Paint

What was the outcome?

Significant equity as well as a strong cash flow position from monthly rents

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Our hard money lender was amazing on this deal. They got it closed in under 30 days and were very easy to work with. DM me for his contact info

Hey @Eric Ray Foraker, welcome to the BP Forum! How long ago was this completed and what was the actual ARV?

 Hey @Jaycee Greene

We completed the project in December of 2024, so just a few months ago. ARV/appraisal was $245k as of January 2025 when we did the refi. Tenant moved in also in January '25

I should have mentioned that in the initial post, will keep that in mind going forward 

Eric

Here are some before photos

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $32,500

This buy-and-hold flip is a textbook example of strategic real estate investing done right. Acquired for just $80,000, with $32,500 in targeted renovations, this property has been fully repositioned and now boasts a market value of $245,000.

Not only did this deal generate significant equity on the back end, it also delivers strong monthly performance—with $1,850 in gross monthly income.

What made you interested in investing in this type of deal?

✔️ Purchase Price: $80,000
✔️ Rehab: $32,500
✔️ All-In: $112,500
✔️ Current Value: $245,000
✔️ Monthly Income: $1,850
✔️ Strategy: Buy. Renovate. Rent. Hold.

This is the kind of long-term wealth-building opportunity that shows why buy-and-hold investing remains one of the most powerful plays in real estate.

How did you finance this deal?

Hard money for rehab, once rehab was complete refi'd using a 30yr DSCR loan

How did you add value to the deal?

Targeted renovations
Full Kitchen remodel, full bath remodel
New floors (LVT on first floor, carpet tiles 2nd floor)
Paint

What was the outcome?

Significant equity as well as a strong cash flow position from monthly rents

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Our hard money lender was amazing on this deal. They got it closed in under 30 days and were very easy to work with. DM me for his contact info

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $32,500

This buy-and-hold flip is a textbook example of strategic real estate investing done right. Acquired for just $80,000, with $32,500 in targeted renovations, this property has been fully repositioned and now boasts a market value of $245,000.

Not only did this deal generate significant equity on the back end, it also delivers strong monthly performance—with $1,850 in gross monthly income.

✔️ Purchase Price: $80,000
✔️ Rehab: $32,500
✔️ All-In: $112,500
✔️ Current Value: $245,000
✔️ Monthly Income: $1,850
✔️ Strategy: Buy. Renovate. Rent. Hold.

This is the kind of long-term wealth-building opportunity that shows why buy-and-hold investing remains one of the most powerful plays in real estate.

How did you finance this deal?

Hard money for rehab, once rehab was complete refi'd using a 30yr DSCR loan

How did you add value to the deal?

Targeted renovations
Full Kitchen remodel, full bath remodel
New floors (LVT)
Paint

What was the outcome?

Significant equity as well as a strong cash flow position from monthly rents

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Our hard money lender was amazing on this deal. They got it closed in under 30 days and were very easy to work with. DM me for his contact info

I’m thrilled to join this network of like-minded professionals. My name is Eric Foraker, and I’m a Realtor and real estate investor based in Wilmington, Delaware. I bring a unique perspective to the world of real estate, having transitioned from a successful career as a network security engineer into this dynamic field. My background in technology has equipped me with problem-solving skills, strategic thinking, and a results-oriented mindset that I apply to every deal.

As a Realtor, I specialize in serving residential and commercial investors as well as homebuyers, delivering personalized guidance and innovative solutions. As an investor myself, my primary focus is on acquiring large multifamily properties (12+ units) and small to medium retail/mixed-use properties. My target markets include Delaware, Philadelphia County (PA), Delaware County (PA), and Chester County (PA).

My investment strategy is straightforward but effective: buy undervalued properties, stabilize them to maximize their potential, and ultimately sell at a premium. I am passionate about creating value while fostering growth in the communities I invest in.

I’m here to connect, share insights, and learn from this amazing community. If you’re looking for a driven, strategic partner for your next investment project, feel free to reach out—I’d love to collaborate! I'm also looking for private money lenders, so if you have an existing relationship with anyone please let me know!

Here’s to growth, opportunity, and success for all of us.

I'm currently licensed in Delaware, but will be taking the PA sales exam in a few days and have applied for NJ as well.

Thanks for taking the time to learn more about me!

Eric