All Forum Posts by: Gordon Cuffe

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $300,000
Cash invested: $42,500
Sale price: $400,000

I purchased a home within my self directed IRA. It just needs work in the house so I gutted both bathrooms and the kitchen and put in everything new. I obtained a buyer before I listed the house on MLS.

@Lionel Quiambaosure send me a dm. here is your first free tip. Right now I am trying to contact people who have not paid their real estate taxes in 5 years. That is the definition of a motivated seller. There is so much information out there that people get overwhelmed and confused. The only focus for a new person is to locate a off market great deal and go from there. 

@Danushka AbeyasekeraHave you tried to find off market properties in your desired area?  look for wholesalers in the area you are focusing on and get on their lists. The properties will need work but it is a way to get a off market property and below value.  It is crazy how different CA markets are compared to the midwest. I just funded a deal for a client on a 12 unit apartment in kansas city for 640k. He only had to put 20% down.

@Lionel QuiambaoToo bad you didnt post this before you spent all that money. I would have told you what to do

in exchange for a split of the first deal. You would then be on your own. I am here in Sacramento. Wholesaling, fixing and flipping. 

@Lerone Banksif he can afford the mortgage payment plus $500.0, why doesnt he just buy the house himself? There are many low down payment programs or even zero down payment programs in some situations. Ask yourself what will you do if he decides he can not afford the $500.0 per month anymore?   I am a local mortgage broker and if you ever have questions about financing the deal just send me a PM. 

@Nathaniel YipYou probably just dont have enough income just yet.That has nothing to due with your credit.  I am a local mortgage broker so if you ever want to find out exactly what you need to do to qualify for a larger loan, you can always send me a dm. 

@Carmella LombardiIf you can find their phone number, just call them and ask if they would like to sell. It is either yes or no. simple. if they say no, politely ask why they are keeping the house. Maybe they want to give to children. if that is the case then it doesnt matter what it is worth. they will never sell. Maybe they will say something else and you can start a conversation. ask them if they would like a passive income and they can sell with seller financing. I tried for years to get ahold of a owner of a vacant house and it is strange to me that people would keep a house vacant. I have contacted neighbors of my friend. They have owned a vacant home for around 7 years. They inherited it from their father. They said they will never sell and continue to leave it vacant yet they pay rent for their adult son. I am in rocklin also if you ever have questions about finding off market properties. 

@Autumn Maullerdo you have any good hvac people?  any other people who can work on homes?  I am looking to buy a house in raytown right now.

Callrail gives people many phone number to tract incoming phone calls and voicemail. There are many other choices also. just put it in google and watch all the choice come up. 

@Tammy Townsend Your in the St Louis area which is known for a great cash flow area. Why not look into a 4 plex or look into a property up to a 8 plex.