All Forum Posts by: John O'Leary

If buyers require financing, it could present challenges if you're the listing agent. Many hard money lenders (HMLs) tend to avoid properties with significant fire damage, unless the damage is minor or limited to a small area. 

I recommend focusing on targeted lists for lead generation and training some cold callers. Absentee owners are a great target, especially in the Northeast. Consider reaching out to 'reverse snowbirds' who may be looking to sell. I would also be well versed in creative financing options to maximize opportunities.For MLS listings, target homes that have been listed for 60-90 days. Look for potential seller financing or Sub2 opportunities among these properties. Like @David Ramirez said it takes time, and you can't be afraid to spend a little money.

Below is who we use on our wholesale deals in FL.

1 Source Title and Escrow, LLC
(o) 615.527.5891 (c) 615.971.1962 | www.1sourcetitle.com

Welcome Elmer, 

I'm in FL, and do some wholesaling. Would love to connect. 

You can find private/hard money, but they typically don't take second lien positions. Consider a using HML to buy the property and have the seller finance the down payment with a silent second secured via promissory note. This works with turn key purchase, not so much with rehabs.

Hey Karin,

This might be difficult. You would need to see if there are any seasoning requirements with your HML. They might allow for a no seasoning rate and term refinance, but that would have you bringing your closing costs and and lender fees to the table. Then you would need to refinance again into your long term debt. If you close into a 30 year loan from the get go you will most likely pay a pre payment penalty of 3-5% so that strategy wouldn't make sense. If you have enough equity you might just need to wait 3-6 months to do the refinance. Feel free to DM me if you need more clarity.

Welcome Mike!

investorlift.com 

Find a wholesaler on investorlift.com in that area and JV with them. Offer a Dispo fee.

Podio and Soho are two.