All Forum Posts by: Frank Geiger

You won't make any commissions. It's like you are a typical investor with direct access to good comps. The wholesaler should have contract paperwork for you to sign. But be mindful that they usually waive all your due diligence contingencies. 

Not likely but it is getting more competitive in that space. On another thread, one investor said he could get a newbie 90% LTV (which is insane in my mind). I paid 75% for my first few. Although it doesn't answer your question, keep networking with Lenders and you may find something that pops up.

Lol you have an admin fee, processing fee, and doc preparation fee. Which all in my mind are the same thing. It is a little high...

My guess is you'll struggle finding any new commercial tenant with broken glass on the front of the building. Doesn't scream a professional service. Should fix it quick and re-rent asap. Might take a while to find someone to fill the space. 

Personal Loan or PLOC? Might still need to sprinkle some cash in there.

Is it more risky? Yes. But it has some benefits as well. It forces you to think smarter and do some higher level thinking, work on your business; not in it, and build relationships. All you have to do is integrate someone's strategy that has already done it. That's what I did.

You can just remove it. They will get tired of replacing their signs.

Is there any way to increase your income or change careers? House hacking will add substantially towards your savings but it may take a super long time to grow a decent sized portfolio with 15k a year. Also buying in rougher areas can be more like a "two steps up, one step back" kind of deal. 

Stay motivated and keep after it!

House looks great! 100k profit, awesome!

So you want 100% of the risk to be on the Lender. Good luck with finding that. If @David Pere can link you up with his buddy, that's a great deal. I'd say realistic is 10%-12%, 80%, and 1-2 points.