All Forum Posts by: Jonathan Garrett

Hello BP Family, my name is Jonathan Garrett and I will like to acquire these two duplexes. The one duplex purchase price is 125k and the other is 35k. The 125k is occupied and needs 10k in work. The 35k  is vacant and needs 20k atleast. 

My problem is I do not have the capital to purchase these properties let alone one. I cannot get a conventional loan because of my business filing a loss for 2017. I do have a credit score of 740. I'm thinking my only option is hard money. Does anyone have a cheaper option? If not, what's the average rates and other standard qualifications?

@Jeff Dulla thanks for taking the time to answer my question. Can I ask a regular institution to provide this kind of loan?

Hello BP Family, thank you for taking the time to read and answer my questions.

My name is Jonathan and I have a dilemma. I own a cleaning company and I do pay myself as well. Welp, I filed my 2017 1120S and filed as a loss. So, I was DENIED the loan. My credit is a 745 on credit karma. I do not pay myself much but I can have a co-signer. Quicken Loans said it still could not put my name on the loan.

Any suggestions?

Have you tried advertising on a Facebook group? I found a lot of my buyers while doing that. 

@Brian Woods-You did not just jumped in, you helped with questions I was about to ask Mike Pastor. Thanks for the jump in.

@Mike Pastor-Thank you for your time again. I believe this is the second time you have helped me. 

@Mike Pastor- I will get that. What CRM are you using? 

@David Weinstraub- I tried calling the county tax collector and they said they had to send it to the property because I did not own it. I think I just go to the county court house and look through the gigantic books. 

Thank you so much!

First of all Chinmay J, thank you for taking the time to respond. I try not to make this complicated but I do not want to create a name for myself as a shady businessman. When I start to negotiate, I already have my maximum offer price in mind. Its just, some of these leads have been well below my offer prices. I understand I'm in this business to make money but these people who I talk to generally want some compensation. I have not came across anyone who owe mortgages. I currently have came across sellers who have other liens such as property tax.

Hello BiggerPocket family! My name is Jonathan Garrett and I have been marketing to get leads and convert them into deals. I just really shook off my sickness of "analysis paralysis" and jumped all in. I got a deal under contract currently and I am in the process of getting 2 more. Only thing is, a lot of motivated sellers don' know what they owe on the property. I feel like I might be offering to high and leaving money on the table. In some instances, I don't believe I am giving them enough to walk away with.

So my question is: Is there a software or website I can use to find out what is owed on the property? Or is a title company my only option? 

Also, has anyone found out the DocuSign is a lot better than emailing contracts back and forth to get signed?

Thank you for time!

My guess is Reading is generally small. Has a lot of gang activity. If it has class B areas I have not heard of anything. As for Lancaster, I believe it has more crime than an average city for its size. Since your interested in Eastern PA, try Wilkes-barre and Scranton. I heard good things. Again all off speculation because I wholesale in Pittsburgh only, currently.