All Forum Posts by: Kai Kopsch

@Ezra Henderson congrats on your first Fix & Flip before getting a HELOC or HML loan I would chat to a few independent mortgage brokers in your area/and or a local credit union and check you're conventional options. conventional and rehab loans are a lot cheaper at HELOC or HML. For Flips, a business line of credit from a credit union is a lot cheaper option. Good luck with your journey!

@Essam A. I would recommend contacting a german speaking Realtor in Atlanta who has experience in foreign national Investments and a team in place. You can open an LLC easily online but most local banks prefer you open a bank account in person due to money laundry laws. The same for rehabbing doing this out of the country is extremely difficult in our hot market especially if you're not familiar with local laws and permitting. Are you familiar with FIRPTA Withholding for foreign national Investments?

@Shera Ewing to win in this hot market you need a great team to score. If you're current agent and lender let you go with FHA run! Look for an agent with a track record in the past 12 months and go with their team (prefer Lender/ Inspectors) There are lenders who can close within 20 days just 3-5% down and you can have a cash backup offer with ribbon for example. Those are the offers that get accepted besides all cash.

@Julia Beresfoes it always depends on the type of transaction. For most flips that involve renovation HELOC is the best option same for apartment student housing. If you plan on long-term SFH investment and you're under 4 properties go conventional so long the interest rate is still low.

95% of all Wholesaler classes / coaches / mentors are not legit. There teach you how to deal with distressed sellers! this was working in 2009 but not in a seller's market in 2022. Besides most wholesale approaches they teach are illegal in most states. Wholesaling is one exit strategy for a legit investor how has the portage power to finance the deal  

yes, it's getting tough to find off-market deals in our market. A lot of investors do their marketing like it is still 2010! Cold calling, bandit signs, mailing lowball offers don't work in a Seller's market as good it was 10 years ago. I work only over the MLS past 3 years and my buy-and-hold clients are very happy with their appreciation. There are deals on the MLS you just need to be on top of things every day, I helped a Bigger Pockets member buy a property on Lake Norman last November for potential short-term rental. This home appraised 150K over accepted offer not bad for 4 weeks. I'm working on an MLS transaction for myself appraisal came back 40K over the accepted offer price.

Angel Oak home loans has a Foreign National Program program. Maximum LTV of 70%

87% of all new real estate agents fail within two years of being in the business and being a Realtor is easy compared to a wholesaler! Like every new business, you need to have access to funding before you start and know the local RE law about wholesaling. Wishing you an amazing start to your real estate investing career!

Having paid you're CC under 10% will help you get other funding with more options and less headache, and no high interest. For example, a renovation loan from Navy Fed up to 50K, business credits 

get a final and unconditional Lien Waiver signed before you make the final payment and before they start asking for their insurance.