All Forum Posts by: Luke Petrozza

@Jamie Parker Thanks for the info! Group Access request sent! You mention white letters - any idea on who to market to with these? I was thinking of attorneys, brokers, relocation companies(?)....I'd be very interested if you hear of anyone else who has done these types of deals.

 All brick 4 BR one-story home situated on beautifully large lot and fantastic yard! MOVE IN WITHOUT NEEDING BANK APPROVAL! This house is Priced to Sell and may be financed through Rural Housing Program with 0% down. UGLY CREDIT? OWNER FINANCING AVAILABLE!!!! Enjoy relaxing or barbecuing on the wood deck off the back. The quaint covered front porch accents this lovely home. OWN THIS HOME TODAY BEFORE SOMEONE ELSE DOES!

Facts

• Lot: 9,583 sqft
• Single Family
• Built in 1971

Features

• Barbecue
• Deck

• Flooring: Hardwood
• Lawn

• Patio
• Unfinished basement

Additional Features

• LEASE OPTION/PURCHASE

• OWNER FINANCING

• or BANK QUALIFIED USDA RURAL HOUSING 0% DOWN LOAN

Appliances Included

• Dishwasher

• Refrigerator

Room Types

• Dining room
• Family room

• Laundry room
• Master bath

Construction

• Exterior material: Brick
• Roof type: Shake Shingle

• Stories: 1

Property Details Price: $97,900 Purchase Price / Rent To Own $1150 per month Address: 1915 Warwick St City: Camden State: SC Zip Code: 29020 Year Built: 1971 Terms: For Sale Property Type: Home Square Feet: 1,325 Bedrooms: 4 Bathrooms: 1 Lot Size: 9,583 Const. Type: Brick

Hello All!

I was wondering what others use to market/display their properties, specifically on some type of flyer/piece of paper that can be left places where people who may be interested in purchasing would be. 

The current property is a higher end luxury home that has all the bells and whistles, but is open to terms. There is a good chunk of equity in the property as well.  Please share any marketing advice you have for these types of properties. Where to find terms buyers for higher end homes? Websites? Property Sheet generator? Good contacts for these types of people?

Thanks!!

Luke

Originally posted by @Zackery Ward:

Hello everyone, I'm Zack!  I'm active duty Navy studying nuclear power in Goose Creek, SC.  My dream is to generate passive income through buy and hold real estate investing.  I'm really interested in meeting investors in South Carolina, or any who are willing to talk online.  I'm looking for like minded individuals who are doing what I want to be doing.  I'd like to be involved with real estate in any way possible given my circumstances and schedule.  I'm 19 with only 6 months of credit history and a 690 credit score.  I'd like to find investing clubs, events, or just meetings in my area.  I'd love to be involved in any hands-on type of experience as well.  My weekends are free.  Don't be shy, message me!  Any other young people who see this should also add me as a colleague.  Thanks for reading

 Hi Zackery! I'm not too far away in the Columbia area. I have a NucE background as well if you wanna reach out. Good luck!

Originally posted by @Andrew Spriensma:

Hello,  My name is Andrew Spriensma.  I stumbled onto this community last night when looking for reviews of the "Success Path" seminar, and this already saved me a whole afternoon or more!  I am a captain and chaplain in the U.S. Army.  My wife and I have 5 young children.  My goal is to slowly build an inventory of rental properties for additional income when we are out of the military.   We bought our first home while stationed in Columbia, SC.  We rented the guest house out while we lived there.  Then when the Army moved us, we rented the whole house out and bought another home in Clarksville, TN.  Now we have saved up enough to put a down payment on a third house.   I realized at this point, I should get some education in the matter and would love to meet people that are local to me who have experience in this already, or are trying to learn just like me and we can learn from each other.  We are not trying to finance several houses at once, but hope to have a slower snowball effect of income and avoid a great deal of debt.    

 Welcome Andrew! I'm local to the Columbia, SC area and although you're not located here anymore let me know if you have any questions!

Originally posted by @Kerry Baird:

Well, I might coach them through it, make a list of questions for homeowner, and they can ask directly. Or I could ask them to sign a specific (to that property and mortgage) POA and have that notarized. I have called up to talk to the workout department and had to hold on the line while faxing a POA in. Then they would talk with me. I haven't done these for a couple of years, but those are two methods that I've used. Post back what works for you!

Kerry - Thanks for the informartion! I'll probably try to coach them through it at first. Do you have any strong points that worked well for you when you negotiated with lenders previously? Any help would be greatly appreciated.

Hello All!

I am looking for some advice on how to discuss a mortgage that an owner is going to leave in his name as i buy the property "subject to". 

The owner is looking for payment relief as the $1200 payment is @ a very high interest rate on only $73k principle. What would I need to be able to legally talk to the bank on the owners behlf to see if I can negotiate a lower monthly payment?

Is this a good idea to try to get some cash flow out if the deal as well?

Thanks!

Luke

Hi Marcus! Welcome to BP. I'm in Columbia as well and there are certainly opportunities. Let me know what youre looking for! Also, the BiggerPockets beginners guide is a great resource for getting started if you havent checked it out already.

Kyle,

I assume youre talking about some type of owner financing/lease option with the landlord? If so, I usually emphasize the benefits for the landlord working with you and a tenant buyer. 

Longer term tenants, who maintain the property as it is their own. Think of your tenant buyers as future homeowners. How would you treat a home that you wanted to eventually purchase?

In addition, mention that your buyer will have significant "skin in the game" as they say.

These are a few of the highlights I go over in my conversations, but it is also up to you to deliver on your word as best you can to deliver a quality tenant buyer. I like building good relationships with landlords as they may be repeat customers for other properties they own.

Hope this helps!

Luke

Has anyone heard of the site/group called Property MOB? It's a paid monthly service that seems to target automation on wholesale transactions. I'd live to hear about anyone who has tried this previously! 

Thanks,

Luke