All Forum Posts by: John Mathewson

@Nicholas Miller Bro that's awesome I love stories like these. I tell people all of the time there problem is not funding there problem is the deal itself. if the deal is good enough then the funding can be found. Keep up the work and keep educating yourself. 

@John Moon You bring up a great point and honestly one of the reasons I got licensed myself. Of course legally they are bound to submit the offer but you and I both know that doesn't mean they always do. 

Side note: for homepath offers your agent uploads the offer to fannie mae's website itself. So the listing agent doesn't really even have a choose to present it or not it goes straight to the seller. So the selling agent saying that would be hard to believe for me. 

If you really wanted proof then you could ask them for a screenshot from the fannie mae website showing your offer was submitted. 

So ARV stans for After Repair Value so that can be after you put 5K into the house or after you put 55K into the house. You are the only one that knows how much and what exactly you are doing to the property. So you have to explain that to whoever is running comps for you. Tell them this is what i'm looking to do to the property how much ill its be worth when the repair are done.

For BRRRR you need to know what the house is going to appraise for as this is what you base your LTV on and everything. So if you are only down got much to the unit then those are the comps you look for. You can't use the comps that are flips or high end unless that is what you put into the property.

Hope this helps not sure if that's what you are looking for really. Let me know if you have other questions or if I can help. 

Awesome numbers sounds like a great deal for you. keep it up this year!

@Samantha Klein I'm curious if you use or have a home depot pro account? Reason I'm asking is because I heard before that using gift cards like that affects the pro account or something? Any ideas?

@Carlos Cardenas We use Google Drive every single day non stop. We use spreadsheets for our proformas, running the numbers quickly, tracking offers... It is a huge tool that we use every day. 

@Peter Sik biggest things for me when it comes to older homes are the electric, has it been updated since then? If not that could be costly. Obviously windows too if those are original that could add up pretty quick. 

@Catherine Hepler This is an awesome site to get started with. There is a ton of information on here as well as some awesome connections. For me the best decision I made getting started was getting my real estate license. This is a great step in getting some great knowledge and then gives you access to real numbers for investing. If I can help at all please let me know. 

Welcome to the site @Lauren Reed There is a ton of information on here as well as some amazing connections. Stay active on here and try to network like crazy. Best of luck If I can ever help in any way please let me know. 

Welcome to the site! There is a ton of great information on here as well as some awesome contacts. most the data I pull is from the MLS but a lot of what you are looking for can't be found there. Curious as well where you would find that information. I know that I have dug into cities a little deeper using i think citydata.com