All Forum Posts by: Niki Cunningham

@Rick Harmon and @J Scott

Well then it looks like I would be looking for two types of money people...

One to help create the deal/note (partner with) and then my note buyer: someone who has money in the bank or a self-directed IRA collecting little to no interest and would like a long term note making 10% interest.

The first money person would be very short term, then second my long term note buyer.

This note terms could be set up different if my note buyer wanted more monthly. I could seller finance with shorter terms for a higher monthly payment. I would be trying to compete with local rents, but allow someone to buy instead of rent.

Just curious to see if the following would appeal to any private money investors:

Purchase a property all cash for $35,000. Fix it up for an additional $2,500. Offer it with seller financing for $65,000 with at least $10,000 down payment and the balance of $55,000 with a monthly payment at 10% interest for 20 yr. amortization = $530.76 or 30 yr. amortization = $482.66.

Add $35 per month to the payment for escrow service. Buyer is responsible for insurance & taxes which the escrow service can escrow as well.

Note collateralized by the property.

Exit strategy: Either keep for long term payments or sell the note to cash out.

Am I missing anything??... Please poke holes through this investment strategy!

A partner and I are looking into a residential residence that has been zoned commercial/warehouse in Irving, TX and since commercial property valuation is not an area I have experience in, we could really use some help to see if we have a deal or not. If you know the Irving, TX commercial industry, please reach out!

Thank you!

Definitely not Los Angeles!

Hi all,

I'm about to get a little house under contract in LA and already have a buyer lined up for it. The house needs to be moved which the buyer knows and is responsible for. My questions, how do I put a movable house under contract since it's not staying at it's current address? Also, the buyer is out of town, so what is the safest way to receive payment... have the funds wired to my bank account? Anyone who deals in buying and selling houses that have to be moved, I could really use some help.

Thanks,
Niki

Hey Alexander! I agree, tonight was great. Enjoyed meeting some local investors and am looking forward to building some lasting relationships in this exciting business!

Carlos F., thanks for the invite, I'm planning to come. I'll see if Pat would like to come as well.

I'm very happy to report the owner of the YL company has been working with me today to provide a resolution I am very satisfied with. I really appreciate their willingness to work with me and hopefully I can report some YL success stories soon.

Seth, I appreciate your feedback and I'm willing to work to get a good list. I will check into getting records from my county. Thank you for the advice as I'm really trying to learn from those of you who have figured out how to market successfully to reach your goals.

@ Carlos, as much as I would like to say the company, I've filed a dispute with my credit card and I want to wait and see if this can be resolved first. A new development though, ever since the phone call to the YL company when I discovered they gave me the wrong list and were marketing to the wrong list, it seems they stopped sending out my weekly dose of letters (at least their website doesn't indicate any letters went out this past week). So it appears they sent out 200 of the 500 I had ordered. Which I'm fine with them stopping if they would redo the YL to my new list I just purchased from Listsource. But I haven't received any communication from them indicating they want to try to resolve this situation.
Kelly, I'm still hopeful with yellow letters in general because so many investors say they work, but I also understand the importance of a good list. I'm hoping one day I can also say YL were a success for me too, however, I can't say that right now.