All Forum Posts by: John Webster

as far as where to find deals. Being a veteran doesn't mean anything. Many veterans still use own money and want to be hands on. Many look in same places. Foreclosure lists, go to courthouse and get list of deals etc. Bandit signs good problem is many write same stuff we buy houses etc, what will make a homeowner choose one over another. Same with direct mail many send many letters to get a few leads. Time consuming and expensive. Many just throw away when they receive. Many are looking and doing what everybody else is doing. Need to hit the hidden hidden markets. Tax liens great many know about that. Want to get into areas with little competition. I tell veterans some places I find deals they go wow never thought about that. Veteran is just time but they have bad habits/ same habits as anybody else. Some of my deals I get same as anybody else but some very little think about.

To be honest i dnt see how a person can do a flip and only make 10k to 15k lol. It shows me people have no clue where to look or are over rehabbing. I do biz in many states myself and others have never made a profit anywhere near that low. Part of it starts with where people get materials many places cheaper than traditional hardware stores. Many replace things that dnt need to be. Learning areas to save money. For example, depending on condition of kitchen cabinets etc i just stain or paint and put new fixtures. Counter tops i get sheets if granite and get it cyt etc. Usually have enough for kitchen and bathroom . Cheaper than buying already cut etc. Tile for floor you can get not expensive put diagonal and give a expensive look. I got the next to cheapest tile did that looked like a million bucks lol. Home buyers blown away. Perception. Like anything dnt work 100% but works alot

realestate depends on where you are looking. Majority say ain't no deals because people have no clue where to look. People look same places. Many deals in hidden markets. One way I get deals is almost never tapped. All about education. Another thing I see is people grow slowly many times because people want to be hands on much. Fine at the start but all about leveraging others. Why rich grow so fast.

As far as blue collar some wholesale some deals then use that to cover percent loan doesn't. Could even transactional fund some deals very low percent and no points. I transactional funded and co wholesaled some deals before I started flipping to have money. I was broke as a joke at the beginning. Not a lender but done enough deals can do blindfolded. Just added more lenders 100% purchase and rehab along with holding costs. Not carrying costs though. I know several that hooks up newbies. My first lenders cane from a local networking group.

10%, but 0 if good deal. Except your carrying costs.biggest mistake people make is not asking for enough money, not calculating for unknowns and not having enough reserves, usually 3 months worse to cover carrying costs. Number one reason people get rejected. Only really need one deal some require more. 3.5% origination fee, 9 to 12 points also depends on credit. Draws would go directly to contractors once their info is received. Many lenders are asset based, depends on deal.

contract genie makes sense they already have contracts all they are doing is putting together a program. Why they can charge 54 bucks or 150. Lawyers already looked at contracts etc. Very smart. They are just passing along what they already have. Anything they charge is pure profit.

i wouldn't go by complaints on BBB anybody can post a complaint. What I have seen many put very little effort into realestate and wonder why they get no where. I have many friends and business associates dibble and dabble. Dnt work like that lol. Wonder why they get no where then post on these platform. I see people always say I can get for free instead of paying these gurus then done 2 or no deals. Why not alot more?

I hate how i am trying to login connected investors. It tells me my account is registered yet wont let me onto my site. What is up with this crap?

Lee arnold and them work the same as all hard money lenders. None use their own money they use money of others. broker for 4 other companies they all work the exact same way except they dnt require for you to get certified. Therefore, has nothing to do legal stuff. They would be shut down like the rest of hard money lenders they dnt need legal license. Main difference is they offer funding for thing outside realestate and make you pay to get certified. They pay a referral fee when people use their service. Paid network marketing. That is legally by the govt. Paid network marketing became legal in like 99 or so. Govt ones who approved. Common sense would tell you they would be shut down along with everybody else if illegal. Govt made it legal. Legal to pay a referral if only money is made. Been around for years.

As far as covered cost several pay all costs except carrying costs. If deal is very good. You get good agents, wholesalers you are in business. For example, got a deal from one of my agents. I got for 485k put 52k in it and sold for 825k. They funded that so fast it was crazy. you can do a lien embankment get deals for next to nothing some cases for free when you get good and just get a rehab loan, transactional fund or wholesale it. Not coming out of pocket That much. I am nt talking about tax liens.