All Forum Posts by: Jordan Woolf

I was wondering if anyone had an extra ticket for the Nashville conference tomorrow? Just heard about it in an old podcast and would love to go. Thanks!

@Elliott Elkhoury

I checked out the properties today. One of the tenants is a hoarder who occasionally gets behind on rent. The two properties I am paying for are actually in great shape and are already tenant proof. I am just going to have to get the hoarder out which may be troublesome. The “free” property just needs a lot of work. I think these three properties are their least profitable but for $65,000 and a total rent of $1450 a month it will be a great first investment for myself. I may end up selling one of the properties at market value to reduce pay off the seller financed down payment and may some profit right from the start.

@Heather Greene

My father in-law made it seem like that was the reason they were giving the property to me and that asbestos is bad. Now that I have done more research I am starting to understand it a bit more and I don’t think that is the case.

@James Martin thanks for the insight. I don’t think I will be removing this stuff my self. 

@Will Fraser yea it is a pretty sweet deal. I accidentally sent direct mail to the owner of a different house I was initially interested in. This person ended up being an investor that has had all his properties for about 20 years and is looking to liquidate. I am getting the houses at a good rate plus the free house. 

I have been looking more into it and some people just cover the siding with vinyl. I’m not sure if that would do much for the value of the house though.

@Joel Owens

No I am not licensed, I have decided to go the route of the finders fee.

A seller is offering to give me a house if I buy two of his other properties. The house he is offering to give me has asbestos siding. It is a large sturdy house and is about 1800 sq. Has anyone had any experience with asbestos siding? I heard it could cost $30,000+ to get the siding removed, is there anything else I should think about that would come with removing this siding? Would it be work removing if I am getting the house for free?

I have a buyer looking for 20 acres of property an are willing to pay up to $250,000. I have a property in mind. Should I negotiate a contract for the property and then transfer it to the buyer, or should I approach the buyer with a finders fee contract and just take a percentage of the deal?

@Peter McDonough I am not sure if it is an agency loan. The rate we discussed were 5.5%. I spoke with another investor from the area and he knows someone who has completed 15 deals and uses this bank.

@Peter McDonough premier bank of the south. 

@Caleb Bryant

I have found a local HML to work with as well. They claim they can close in 3-5 days with 12% interest.

@Jerry Counslor

I have a connection to a women in Jackson TN that went through the Lee Arnold program and has a network of investors she works with. She does 90% ltv at 12% interest. Not the best rate but it is better than nothing. If you are interested dm me and I can give you her number. I am in Huntsville, AL also looking for private lending. I have a local bank that will refi at 80% APV with no holding period. I just need to get the initial capital and I would be set. I am considering working with her but I plan on searching some more for the initial capital.