All Forum Posts by: Javier Marchena

@Alberto Stein Rios 

If they are not willing to sign off that form in order to pull their credit... well, look for another tenant. That one may be hiding something.

If it was that easy, everybody will try to find these markets and not even deal with tenants and flips at 15-30% ROI.

Big investors would not entertain with 7-9% caps if they can double their money somewhere else for sure.

In my town, Utility companies get a big deposit on users with bad credit history or with no history at all. This deposit is void if you have good credit.

Why would the landlord is responsible for this? He/she did not requested it, nor benefit from it. Landlord get paid for providing a safe residence, not the water or electricity. 

Utilities companies get paid for providing these services and need to implement a process that prevent them from loosing money. 

Welcome to BP and good luck on you new investment!!!

@Dan Sieg undefined

As a RE Agent, I would not take an offer to my seller without proof of funds. Seller needs to make sure you have more than just intention to buy the property.

Show me the money, first. Then we will consider your offer.

Find a preapproval letter from a bank, or a bank statement if cash. 

Unless you are buying from an uninformed FSBO, you will need to prove you have the means to pay for this property.

@Michael Hicks 

The risk is not the same. I promise 10% annual to one investor, no matter how much profit I make (or not). Similar to a Hard Money Lender but without the points and the paperwork.

The other gets 50% of the profit, sometimes the profit is better than others. The risk is higher because the profit can be 0 or we can loose money (this has never happened yet but it can).

Hi @Michael Hicks , 

I do some deals with private money for my flips.

On the ones I share 50/50 with the investors I will show them all the numbers. That way they know they are getting 50% of the profits.

The ones that do not want the risk and prefer a 10% annual interest, I do not need to show any numbers or how much profit I get.

Nice work, 

Could you update your before and after drop box link?

I would really like to see more "after" pictures !!!

Most of the best contractors are busy enough that they do not need to pay a fee on these websites in order to get work.

Try to find a contractor recommended by a happy costumer. 

Word of mouth is the best advertisement.

You will need a pre-approved letter from the bank before you can make an offer in a property. Sellers would like to verify you have buying power before getting into a contract with you.

Pre-approved letters do expire, but you can always comeback to the bank and ask for a new one.