All Forum Posts by: Jon Lee

What is the one thing that drives you crazy as an investor about real estate agents?  What do you wish that real estate agents understood better about investors?  

Disclosure:  I was a licensed agent for 3 years....I understand both sides of the equation here.

Hey @Chris Sean...some folks like to pay all cash for properties but I like to use leverage wisely to maximize cash on hand while allow the most flexibility. If you get financing (institutional or private) you can open yourself up to acquiring more properties faster which if done strategically; creates a larger ROI. The more ways you can master leveraging property, the more flexibility you have and the more profitable your portfolio can become. Your question was somewhat vague so my answer is a very general statement but I hope it helps give you other considerations. Best of luck to you!

@Macie Moore...your assumption about no money down is absolutely correct!

Tomorrow is the day folks!!! Whether your a new investor or an experienced investor in Las Vegas you don't want to miss the August Outback Investor Meeting. The Outback is not your average REIA...the content and networking you will have the chance to experience can take your business to another level. If you haven't already...remember to pre-register online for the discount fee of $20 before 5pm Thursday or you will have to pay $30 at the door! Tomorrow night is going to be full of OMG content about and the demonstration of great conversations with sellers by Coach Collard! If you have any questions at all call or text me at my number below. See you all tomorrow night!

Hi @Macie Moore...one of the details you never mentioned is how much you have to put down on the package of properties.  You spoke of wanting to have a great equity position but never stated what number you intended to put down.  Would be great to know.

Second...since the properties are under a blanket loan; if the terms are great (ie...small payment/great cashflow) an option could be to place all three propertied in a trust and then have your grandfather sell the trust to you.  That's probably the best way to ensure you don't trigger the due in sale clause.  

Hope these two considerations help...PM me if you want to discuss this a little deeper.  I don't want to write a novel for a post.  ;-)

@Becky Engel....Questions:

1) What is the actual price that will cause the condo to move the fastest in your area (30 day sell price)?

2) How much equity do you have in the condo & how much of that do you NEED back?

3) Do you need the loan payed off to move on?

4) Are you OK with getting your equity out AND doing subject-to transaction or wrap with a buyer who wants to make it their primary residence?

Hey @Trevor Shuler...Welcome to BP & the investing game!  

Taking into account your duty schedule; I recommend that you and/or you wife take the opportunity to attend many of the REIA's and/or investor meetup groups around town to network and meet in person the folks who are making things happen locally. It's also the best way to get a real sense of what's going on in the SD market. If you have specific questions about wholesaling or investing in general; just PM me and we can schedule a phone call. Best of luck to you!

@Khalid Powell....fortune favors the bold. Mailers don't hurt but you can also try to find who the members of the LLC are to contact then directly. use a skip tracing service if you have to.

Likewise @Christian Funicelli...PM me and I can do the same.  Best of luck!

Hi @Daniel Beltran...welcome to the investing game.  Like @Robert Rayford said, back in the day the HOA foreclosure was ideal for the many buy & hold investors because the cost was so low it mitigated much of the risk. That being said, things have changed some and only the most experienced investors are working with them (without losing multiple properties to the banks). The issue is that you have to satisfy the bank debt AND still get a disclaimer deed form the original seller before the title company can even consider issuing traditional title insurance. Mt partner and I still acquire HOA properties (at the right price) and work with a couple of investors who take in the risk (with lots of attorneys on there team). If you want to connect with me about it to explore what's possible...just reach out to me at my contact information below.