All Forum Posts by: Joseph Pytcher

Anyone doing a R/T 30 year up to 80% LTV?

I own a real estate investment company here in Dallas (we flip single family properties) and I have a full time W2 employee that acts as an acquisitions manager that finds deals through wholesalers however he is unlicensed but I am licensed. Does anyone know the rule on calling wholesalers directly for deals if you don't have a license even though he is a W2 employee? He is finding properties for myself to buy, not for someone else. Just need clarification on this rule. 

Reason why I ask is because this is done extremely often in our business. Wholesalers cold call sellers directly to negotiate contracts and buy/assign deals without a real estate license all the time however the state of Texas requires a license for any type of solicitation.

Any legal work around that I am missing so I am compliant on this issue? Last thing I want to do is not be in compliance with TREC so I want to make sure we're good. 

Thanks,

Joseph

I flip a lot of homes up here in DFW and am thinking about expanding to another market and possibly San Antonio. Do yo guys feel SA is too saturated with investors or are there still a lot of deals out there? I flip 3-5 homes a month here in DFW but still feel it's very saturated but can't imagine it's less competitive than DFW. Any thoughts? 

Hey Brendan, I might be expanding my business from Dallas to another market. Up to what LTV and LTC will you lend? I currently have hard money loans up to 78% and 100% LTC. Can you match that if I decide to expand to another market?

Here in Dallas, we know when a property is better torn down. I build new construction spec homes here in Dallas in the $1.4mm range and that's all I look for is tear downs, but only in certain areas of North Dallas. Other areas of Dallas it doesn't make sense. 

I have a rental property with a 12 month term lease that I need to get funding for 12 months. This will be a rate and term refinance, needing about $107k. This loan will be secured by a deed of trust and closed through a title company. I'm paying 7.25% interest only with a one year PPP. Preferably needing someone with a self directed IRA or someone who wants a safe investment for a year. Contact me if interested or if you have any questions. Needing to refinance as soon as possible.

Thanks! 

Joseph Pytcher

I have a rental property that is occupied that I need to refinance out of a hard money loan. Needing a term loan for about 10 months and I'm willing to borrow at a rate of 7% with a 30 year amortization or a 7.5% interest only. The loan will be secured by a deed of trust and will be a rate and term refinance. I will not be taking any cash out. Transaction will be handled through a title company here in Texas. 

Loan amount (payoff amount) - $107k, value is about $140k. Tenant just signed a one year lease paying $1,250. 

Please contact me if you have any questions. 

Joseph

I know exactly which house this is. It's listed for $500k and you're going to wholesale it for $499,900? 

I have access to a 106 unit property in Dallas near brand new large commercial buildings in North Dallas. This property needs to be completely overhauled and increase rents with turn over. I am estimating this property to need about $2.5mm in renovations. The list price is $5,300,000 however I recommend a much lower price of around $4.3mm. Once stabilized, the NOI of this property will be about $600k with a value up towards $10mm.

We can provide all the renovations and property management for you once purchased. We are a full service brokerage in Dallas for property investors.

Please message me for more information and I'll e-mail you the spreadsheet on this property. 

**Please note, I am not the listing agent, I would represent you as your buyers agent locally in Dallas.

This is a great rental duplex in Arlington, TX. One unit is vacant and the other unit is being leased for $795 until Feb of 2018. Both units need about $15k per unit (which we can provide at that price) and we can also manage the property at 8% per month of gross leases plus 30% of the first months rent ONLY. Market rents for these units are $950-975 per unit. 

We require cash or hard money only. This is double closing. Closing is September 12th. $5k deposit with the title company.