All Forum Posts by: Jordan Woolf

@Travis Mullenix it’s cheaper than a partner.

Hi @James Solis I am an engineer and actually working on something part time right now. I also have a couple of other potential ideas.

Are you looking to contribute to something or build your own product?

@Marcus Auerbach I am finding a lot of properties that would qualify as a BRRR but I am just having a hard time figuring out how to get them to cash flow. I have two flips right now where I could pull all of my cash out and more but the cash flow would not be there.

@Jared Haxton think of it from a lender standpoint. If you were going to lend someone money, what kind of team would you want them to have? I was say a good attorney, agent, property manager, and contractor is a good starting point. It wouldn’t hurt to have 3 or more of each. You don’t need a deal lined up to build relationships with these people.

When I approach a lender I show them what types of deals that I have done, I sell my team and the years experience they have, and I sell my competitive advantages. I.e my rehab costs are typically 40% lower than other investors. I have buyers lined up ready to buy houses on land contract. If rates increase I can pass that on to the end buyer. I sell that security to the lenders/ investors so that they know their capital is safe with me.

@Jared Haxton one thing that helped me raising money for deals was to sell my team and not focus on myself. I didn’t have much experience when I first began talking with private lenders so I had to show them I had a great team and systems in place so they would be comfortable working with me.

@Klavish Faraj the lenders money would be protected by a mortgage on the property. Some private lenders also require the lender to obtain life insurance as added protection.

@Sam Bhattacharya I was discussing finding a private lender with my agent and come to find out she was looking to become a private lender.

@Jessie Kristie we have bought 8 the past 2 months and still buying.

As @Caleb Bryant mentioned sellers are starting to realize the market is shifting. One seller told me today that he thinks he missed his window to sell.

A lot of homeowners have large amounts of equity and locked in low interest rates. Just a guess but I believe there will be opportunity from investors that overpaid and have balloon payments due.

@Fernando Enrile we are buying houses and then owner financing them to people at a higher interest rate, higher price, and down payment.

@James Hamling you forgot to mention all the tech debt that comes from outsourcing across seas… I have seen multiple companies outsource their systems only to pay multiples to have those same systems redone. Just like anything else you pay for what you get …