All Forum Posts by: Kyle Mccaw

If you are managing for a third party you need to have a license and sponsored by a broker. The most common contract is written by the Board of Realtors' attorneys. I recommend using it as it is the best I have seen.

Put together a plan and work it. I focused on what created the most cash for me. Then used that money to buy cash flowing assets. I did a lot of wholesaling, flips and have a property management company that provided the ability to acquire rentals. 

See if there are any local hard money lenders at your local real estate investor club. Someone may do it.

Go for it! As long as the numbers work. I have clients purchase with HELOC or margin accounts all the time.

True. I had a potential deal that was going to auction the next week. I make the owner a fair offer that would give him money at closing. You told me with a straight face that he felt the bank would let me stay in the house. We're in Texas. You don't get to stay in the house after it sales at auction. Period. Completely delusional.

Just remember no two firms are the same. So you can't go 100% off of price. I know PMI Georgia has a great reputation in Atlanta and the owners of the company are investors also. It is always good to use a manager that owns rentals. This way they know the pain of vacancies and other expenses.

REO listing agents do not typically get paid as much as a traditional listing. They are also working many listings at one time and have to work within their client's directive. So basically they are over worked and under paid. Make the transaction as easy as possible for them and they will love you. Banks want to sale AS-IS WHER-IS WITH ALL DEFAULTS. Cash and hard money transactions are what they generally expect.

This needs to take into consideration location. In Texas the numbers are very different and do not support solar upgrades. 

Orange peel.

Or for houses that we only need to partially drywall we go with what is already there.

I'm in Texas. Other parts of the country my have a different taste.

@Shital Thakkar very expensive is a relative term. The values have gone up over the time. Generally they are less expensive than McKinney. Saginaw and Haslet fall into the area I mentioned.