All Forum Posts by: Gordon Cuffe

@Dantonio AlvarezI am a mortgage broker in California. We have a lender that does blanket loans for investors that need financing for many homes at one time. You can pm me and I can give you an idea on rates and terms. 

@Kuba F.This looks great. hopefully you can add the ability to pull up addresses so that investors can mail or contact the property owners to create leads for their business. 

Getting a hold of the seller and getting them to accept a price that makes sense is 100 times harder than finding the buyer. Spend 99% of your time getting a accepted contract 

@Garrett Amundsonsend them a letter. if no response. skip trace and see if you get a correct phone number and call.  When you look up their info, you will know if they receive mail at the location or not. You can try dropping off a letter also. You will find out that you need to try everything to locate them to see if they want to sell or not. I sent letters to the owner of a vacant house for 2 years. Every type of letter. I finally lost out on the deal because a new investor found her phone number and called and asked if she wanted to sell. For some reason over the phone ,she said yes I want to sell. 

@Account ClosedI just sent you a pm with info. 

@Joshua IbarraIf it is zoned residential and it will really appraise for 200k ,you should be able to get a local mortgage broker who will refinance it.  The tough part for the appraiser is finding comps since most properties within a mile are just one home on a lot. Find a mortgage broker or local appraiser to see if they can appraise it for an amount to pay off your hard money lender. 

@Nick WilsonI am a mortgage broker in Sacramento who invests out of state. I will agree with the other two people in that you might think of staying away from the 40k to 60k price range unless you are buying at a discount, then rehabbing the property and then getting a new appraisal and pulling your cash back out. If you ever have questions about the Kansas City market, you can send me a pm. The property manager is the most important part of any out of state investing. My first property manager in St Louis was a crook who took thousands from many investors but only $500.0 dollars from me.  

@Loan DoanThere is a saying live where you work and invest where it makes sense. There are people who invest 2 hours from where they live and some who invest across the country. If you invest far away, you will just need honest property managers, realtors, home inspectors. I originate loans in the Sacramento area and also look for off market properties around Sacramento. I also buy in the Kansas City market because the prices are so much lower and I can find positive cash flow properties. You will just have to research what you can buy with the money that you have for the down payment. Once you know the max amount that you want to purchase. Do the research on how much rents you will get at that purchase price. Then you can decide if you feel comfortable with that mix of rents vs mortgage payment.    

You might want to get a job lined up before you move.  It is hard to live and invest without a monthly income. After you have a income, you can do side jobs like looking for fixer upper houses and build up a savings account until you have enough money to buy your own property. The lowest priced homes are 200k around sacramento so if it is a fixer upper, you will need a 10% down payment to buy it. 

@Nick MeyerThere is a small town 40 minutes from Downtown Sacramento where you still can buy a duplex in the mid 200k range.  A new Hard Rock casino and hotel is currently being built just outside of Marysville. Dont tell too many people or that will drive the prices up too much.