All Forum Posts by: Ian Henley

In particularly for a property that is distressed by either the property or owner. Because at that point it’s really not a sellers market anymore

Thanks for the response. Much appreciated. I didn’t mean concessions are purely money at closing. But other options to ask for such as seller financing, less earnest money deposit, home warrantee included, closing date moved, possibly short term rent to the owner if they need time to move out. And so on. Just looking for creative solutions to add value to the seller to get something of value in return. 

Warren Buffet

"If you don't find a way to make money while you sleep, you will work until you die.”

I've read a few books on Negotiation and am interested to finding very creative ways to structure a deal on a rental property using seller concessions. I was wondering what recent seller concessions everyone has asked for that helped make the deal work for both parties. Any particular strategies you used in the process? Thanks in advance. 

Are you paying cash or financing, and if so, what does the mortgage payment look like, or private money interest look like. 

I invest in Amarillo but live out of state and heres how I started. 

The big things you need to get before you start.

1) deal finder (real estate agent or wholesaler, anybody who gets you a deal below market value that cash flows)

2) Lender, or private money/hard money. Because regardless of how much money you have, you WILL run out. Have a backup lender and ask the lender what you need to do in order to make sure you qualify.

3) Property manager- interview them and make sure they have your interests and you can trust them, unless you manage yourself then skip this step. Try to get a  property manager who has a very good team of contractors.w 

4) Landlord insurance company. Make sure to ask around and find a couple who give great deals, so that you can have them run the numbers before you even make an offer. Every once in a while a home will not qualify for insurance without major renovations, so make sure they can insure your property.

5) network, network,network. Amarillo has a real estate investment group REIG. Add them on facebook and you will get deals, referals and a good network to run ideas through. 

If you can create a team with rock star members in these categories, who understand what you need because the team is also investors, it will be so much easier. 

If you already have all of these in place, your confidence will be very high, and your stress very low. Dont try and find a deal without having any of these in place. Be prepared and you will succeed. Good Luck.

Thank you Andrew. Very generous. I will send you an email tonight With the property

Ive currently been doing all of mine with 20-25 percent down. But running out of capital that way. Looking to use private money to fund some wholesale deals that I have been getting preferably 90 percent Ltv and I’ll pay the rehab. refinance 7 months later and pay back the basis on the loan. In short, to be able to brrrr and get my roi much lower than conventional loans. 

Hello Everyone. I currently have four rental properties in Texas. Looking to expand further and seeking additional help financing some duplexes. Which Hard Money Lenders or Private Money Lenders do you recommend? I tried a few Hard Money lenders and most charged around 12 percent, plus points, plus around 5,000 in closing costs and I cant justify spending that on duplexes in the 90-100k range. Are there any Private Money Lending websites with very little fees associated with the loan? Thank you for all your help.