All Forum Posts by: Kyle Cabral

Interesting scenario. My fiance' and I bought a SFR in our home town which is new construction. We went there, picked out the lot, the exact layout of the house (these were predetermined, about 10 selections) signed off, went through P&S, earnest deposit, all the hoops and whistles. They started building excavating and we noticed that it took a while, so we had my fiances father (real estate agent) contact the seller and after some shady digging, they told us that they had to change the layout of the garage from a facing entry to a side entry....

question, can the seller do this? they never spoke to me, telling me about their plans to alter the garage or layout.  I'm bothered by this because the house is oversized for the lot and there is not much lawn AT ALL.  By it being a side entry driveway, more concrete, less grass, and I almost want to say tougher for me to resell the house if I wanted because the lack of a yard.

This bothers me and they are planning to pour foundation this week...

Any suggestions, what do you think about this situation? What type of leverage do I have.

Thanks for the insight as always.

Kyle

Also, if the deal goes through and partnership is accepted.  What is next steps? What kind of contract is signed so all members assume liabilities for what is agreed upon in the terms?  Sorry for all the questions!

Hi All,

I've been about on the forums recently and have been networking and doing my due diligence on strengthening my week ties. I guess it's paid off. Out of curiousity, I texted a friend of mine about his interest in REI and he has the same passion as I do but a completely different skillset. Long story short, we are finishing up a confirmation of a dinner with a potential financing partner to fund our first project in mass. To all the BP members, in your experience, what is the most important thing when selling your idea, work habits, and passion to a partner/investor with the cash needed to start off.

1.) If you are willing to lend money to someone, what are you looking for in a dinner?
2.) What are you NOT looking for?
3.) How likely would you be willing to lend money by the end of the dinner?

I'm working on a business plan as we speak, very detailed but what else could I do to separate and gain trust.  He knows my close friend but i'm just another face.

Thanks,

Kyle

@Gerald Harris This could not have come at a better time.  Thanks a ton for this awesome information!

@Gavin Welch great entry. Do you or anyone else on this thread have any resources, or could point me in the direction of what an "LLC" really is and the benefits when real estate investing. I'm almost looking for an LLC 101.

Kyle

Hi,

I am currently listening to the flipping 101 podcast with @JScott and he mentions identifying persons whom are underwater on their mortgages and sending "yellow letters".  How would one identify the population of people whom are currently "under water"?

Thanks!

Awesome! Thanks a ton @Larry Chafe 

Hi!

Does someone mind offering insight to the value of a mortgage release, in the perspective of a lender as opposed to letting a house go to foreclosure or offering it up as a short sale.

Here is a link to the description I read surrounding mortgage releases.

http://knowyouroptions.com/avoid-foreclosure/optio...

Also, to perspective buyers, can you attempt to buy a property from original owner even when the mortgage has been released or would you have to somehow contact the bank?

Thanks!

Kyle

@Wayne Brooks thanks wayne, great insight... i'll try and do more research

kyle

Hi All,

Quick question.  In your opinion, what is the best medium to find good, fair contractors that are willing to work with you and build a lasting relationship.  Do you utilize sites like angieslist? Are there other sites available? Word of mouth? Also, on average how long has it taken some members here with successful flips/real estate stories to get a solid contact list for the necessities to make you successful in real estate flipping/investing.

Thanks!

Kyle