All Forum Posts by: Geoffrey Pierce

I've got a friend looking for rehab money for a free and clear triplex in Warren, MI, but he says he can't find anyone lending in Detroit, so I'm seeing if I can't help him find someone.

His property:
       3 Units
       8075 Packard Ave, Warren MI 48089

Free and clear. Asking for 60k rehab. His valuation $140k ARV.

He's the founder of https://www.economicdevelopmentministry.com/ and an experienced rehabber and contractor in and around San Diego, New Mexico and Arizona. He's doing amazing work for the community.

If interested I'll connect you. I'm not in the middle. Just a friend helping a friend.

Thanks.

@Adam Adams, @Chris Seveney, @Wayne Snell Thank you all. I'm getting the picture and definitely cognizant of the inadequacy of seminarland.

Can you describe the pressure events and timeline? Are you talking risk tolerance pressure, plate spinning pressure or clock's ticking we need an answer pressure?

Greetings, forum. I'm peeking over the fence to see what all the fuss is about. One aspect I'm reading about is how notes are hard work, entail lots of phone calls, and feels like an being an administrative assistant, but it's unclear in what perspective that's painted. Are you talking tedium hard, or "Sell, Mortimer! Sell!" precarious hard, or calculus hard, or no life outside notes hard, or ...?

Books, tapes and seminars won't cover the actual day to day lifestyle, so I thought I'd ask for your experience as part of the whole picture. 

Thank you.

 Eric, (or anyone for that matter) can you define your idea of fantastic vs acceptable deals? I'm trying to re-calibrate coming from the San Diego market.

Imagine speaking three dictionary words to your navigation device and getting directions to any 10' x 10' square in the world. 

How will this affect Real Estate? Dunno exactly, but it's coming. It will have the most direct impact in 2nd and 3rd world countries, but maybe we'll get some use out of it one day. 

It's accurate enough to not only identify which building you want, but precisely which door you want them to use. The window next to it has a different address. Each apartment door has it's own address; including the back sliders. You can order deliveries be dropped exactly where you want them; like in a specific spot in a huge development project that's still all dirt. Dominoes will know you're at the dock on the lake behind the house, and how to get there. Your kid can tell you precisely where they are if they're lost. 

Your parking spot has a unique three word address. Every parking spot in the world does. The remotest cabin in the deepest woods has an address that any delivery service or drone can find even if google's mapping cars have never been there. Secret fishing holes or tree stands have an address you can share with your buddies accurate to 10'; no streets necessary. Every 10' x 10' square in the ocean has a three word address.

This has already revolutionized undeveloped countries; they've already bypassed phone lines and went directly to cellphones. Now they're bypassing street address and using three word addresses. 

Watch the TED Talk here: https://www.youtube.com/watch?v=a4ZBzM3L6ws&featur...

Then go here to find out what your front door address is: https://sxm.what3words.com/. Just follow the instructions on the right.

Try a few adjacent squares until you find a catchy address you like.

Definitely dialog with them and ask them to explain their cost and practices. You'll either like what you hear or you'll get more experience sniffing out scammers. Don't just walk away. Interrogate them and learn!

Anyone have feedback on RP Funding program that's paying all closing costs for refi's? 

Partner is quoting 7k rehab, 435 arv, so conservatively say 400 value today -272 = 128k. 
The 29k "profits" are I'm assuming a family arrangement and payable separately. That said, I'm out. 

Thanks all.