All Forum Posts by: John Morgan

MLS

We have done foundation repairs before and not scared of them. When it comes to foundation companies that quote and come do a free quote we don't trust a single one of them. Most foundation companies send out salesman who dont know anything but what they learned in a two week training. If it does have structural damage and it sounds like it does spend the $500 to get a structural engineer out there to give you the solution to the problem. They will be honest and tell you what the fix is. Then call the foundation companies to fix what the structural engineer said. 

Most HML can roll a rehab loan into a year long bridge loan for seasoning. It will be higher rates but for only a year. THen go to a local bank for best rates.

Yes. They have done close to 40 deals for me and I work with them closely. Great rates and great service. 

What Brian said. If you are looking for a portfolio of properties, call landlords. Most banks list individual properties on mls. Banks will send portfolios to investors they have worked with in the past and know though. Not really a way to get on their lists unless you have a relationship with them. But those portfolios are multimillion $ ones. 

contact Residential Capital in Dallas. Still lending 100% of 65%ARV.

Yes but not without large amounts of cash and a lower LTV. Days of 80-85% over

Home spec 

When you are trying to convince yourself it is a good deal and will work, RUN! 

I actually bought a franchise about a year and a half ago. Wife and I are doing it full time together and just got our 25th house under contract. It has changed our life